Short Interest in Sunshine Biopharma, Inc. (NASDAQ:SBFM) Rises By 102.4%

Sunshine Biopharma, Inc. (NASDAQ:SBFM) was the recipient of a large increase in short interest in the month of July. As of July 31st, there was short interest totaling 126,399 shares, an increase of 102.4% from the July 15th total of 62,455 shares. Approximately 25.3% of the company’s stock are sold short. Based on an average daily trading volume, of 153,914 shares, the days-to-cover ratio is presently 0.8 days.

Sunshine Biopharma Stock Performance

Sunshine Biopharma stock opened at $1.15 on Friday. Sunshine Biopharma has a 52 week low of $1.10 and a 52 week high of $24.30. The firm has a market capitalization of $576,150.00, a PE ratio of -0.11 and a beta of 1.16. The business’s 50-day simple moving average is $1.82 and its 200-day simple moving average is $6.90.

Sunshine Biopharma (NASDAQ:SBFM) last announced its earnings results on Thursday, August 13th. The company reported ($1.15) earnings per share for the quarter, beating the consensus estimate of ($1.20) by $0.05. The firm had revenue of $9.26 million during the quarter, compared to the consensus estimate of $8.70 million. Sunshine Biopharma had a negative return on equity of 27.69% and a negative net margin of 17.94%. Research analysts forecast that Sunshine Biopharma will post -6.3 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the stock. Wall Street Zen raised shares of Sunshine Biopharma to a “hold” rating in a research note on Saturday. Weiss Ratings downgraded Sunshine Biopharma from a “sell (e+)” rating to a “sell (e)” rating in a research note on Tuesday. Finally, Zacks Research raised Sunshine Biopharma to a “hold” rating in a research report on Wednesday, May 27th. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $70.00.

Hedge Funds Weigh In On Sunshine Biopharma

A number of institutional investors and hedge funds have recently bought and sold shares of SBFM. Virtu Financial LLC bought a new stake in Sunshine Biopharma in the 4th quarter valued at $29,000. Two Sigma Investments LP bought a new position in shares of Sunshine Biopharma during the 3rd quarter worth about $32,000. Finally, Citadel Advisors LLC raised its position in shares of Sunshine Biopharma by 23.1% during the third quarter. Citadel Advisors LLC now owns 78,087 shares of the company’s stock valued at $116,000 after buying an additional 14,656 shares during the last quarter. Institutional investors own 41.98% of the company’s stock.

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.