Sunshine Biopharma (NASDAQ:SBFM) Trading Down 2.8% – Here’s Why

Sunshine Biopharma, Inc. (NASDAQ:SBFM) shares were down 2.8% on Friday . The company traded as low as $1.03 and last traded at $1.05. Approximately 28,132 shares were traded during trading, a decline of 29% from the average daily volume of 39,881 shares. The stock had previously closed at $1.0799.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Sunshine Biopharma in a research report on Tuesday, April 21st. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $7.00.

Sunshine Biopharma Stock Down 2.8%

The stock has a market capitalization of $5.16 million, a price-to-earnings ratio of -0.71 and a beta of 1.37. The business’s 50-day moving average is $1.06 and its two-hundred day moving average is $1.29.

Sunshine Biopharma (NASDAQ:SBFM) last posted its quarterly earnings results on Friday, April 3rd. The company reported ($0.46) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.27) by ($0.19). The business had revenue of $8.58 million for the quarter, compared to analyst estimates of $10.00 million. Sunshine Biopharma had a negative return on equity of 27.14% and a negative net margin of 17.86%.

Hedge Funds Weigh In On Sunshine Biopharma

Several institutional investors and hedge funds have recently bought and sold shares of the company. Citadel Advisors LLC boosted its holdings in Sunshine Biopharma by 23.1% in the 3rd quarter. Citadel Advisors LLC now owns 78,087 shares of the company’s stock valued at $116,000 after purchasing an additional 14,656 shares during the last quarter. Virtu Financial LLC acquired a new position in Sunshine Biopharma in the 4th quarter valued at about $29,000. Finally, Two Sigma Investments LP acquired a new position in Sunshine Biopharma in the 3rd quarter valued at about $32,000. 41.98% of the stock is currently owned by institutional investors and hedge funds.

Sunshine Biopharma Company Profile

Sunshine Biopharma, Inc is a biotechnology company focused on the research, development and commercialization of novel drug candidates primarily for oncology. The company specializes in small-molecule therapeutics designed to overcome multidrug resistance and to target hard-to-treat cancers. Its preclinical pipeline emphasizes compounds that intercalate DNA and inhibit topoisomerase II, with the goal of advancing candidates into clinical trials for various solid tumors.

Among its lead programs, Sunshine Biopharma is advancing anthracycline-based compounds, including Bisantrene, which has demonstrated activity against breast and prostate cancer cell lines, and Adva-27a, a novel analog being evaluated for glioblastoma multiforme and other drug-resistant malignancies.