Sunshine Biopharma (NASDAQ:SBFM) Stock Price Down 2% – Should You Sell?

Shares of Sunshine Biopharma, Inc. (NASDAQ:SBFM) were down 2% during mid-day trading on Tuesday . The stock traded as low as $1.00 and last traded at $1.00. Approximately 31,005 shares changed hands during trading, a decline of 16% from the average daily volume of 36,894 shares. The stock had previously closed at $1.02.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Sunshine Biopharma in a report on Thursday, January 22nd. One investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $7.00.

Sunshine Biopharma Stock Down 2.0%

The stock has a 50 day moving average of $1.17 and a 200 day moving average of $1.40. The company has a market capitalization of $4.91 million, a price-to-earnings ratio of -0.98 and a beta of 1.51.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of SBFM. Citadel Advisors LLC increased 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 worth $116,000 after buying an additional 14,656 shares during the period. Two Sigma Investments LP acquired a new position in Sunshine Biopharma in the third quarter valued at $32,000. Finally, Virtu Financial LLC acquired a new position in Sunshine Biopharma in the fourth quarter valued at $29,000. Institutional investors and hedge funds own 41.98% of the company’s stock.

About Sunshine Biopharma

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.