Short Interest in Sunshine Biopharma, Inc. (NASDAQ:SBFM) Drops By 45.0%

Sunshine Biopharma, Inc. (NASDAQ:SBFM) was the recipient of a large drop in short interest during the month of July. As of July 15th, there was short interest totaling 62,455 shares, a drop of 45.0% from the June 30th total of 113,463 shares. Currently, 12.5% of the company’s shares are sold short. Based on an average daily trading volume, of 48,069 shares, the days-to-cover ratio is presently 1.3 days.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Zacks Research raised Sunshine Biopharma to a “hold” rating in a research note on Wednesday, May 27th. Weiss Ratings restated a “sell (e+)” rating on shares of Sunshine Biopharma in a report on Friday, July 17th. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Sunshine Biopharma has an average rating of “Hold” and a consensus target price of $70.00.

Institutional Trading of Sunshine Biopharma

A number of hedge funds have recently modified their holdings of the business. Citadel Advisors LLC increased its stake in shares of Sunshine Biopharma by 23.1% in the 3rd quarter. Citadel Advisors LLC now owns 78,087 shares of the company’s stock worth $116,000 after acquiring an additional 14,656 shares in the last quarter. Virtu Financial LLC bought a new position in shares of Sunshine Biopharma during the fourth quarter valued at approximately $29,000. Finally, Two Sigma Investments LP bought a new position in shares of Sunshine Biopharma during the third quarter valued at approximately $32,000. Institutional investors own 41.98% of the company’s stock.

Sunshine Biopharma Trading Down 14.0%

Sunshine Biopharma stock traded down $0.20 during trading hours on Wednesday, hitting $1.23. 73,308 shares of the stock traded hands, compared to its average volume of 712,526. Sunshine Biopharma has a one year low of $1.23 and a one year high of $24.30. The firm’s 50-day moving average price is $2.40 and its two-hundred day moving average price is $7.89. The company has a market cap of $615,000.00, a PE ratio of -0.10 and a beta of 1.13.

Sunshine Biopharma (NASDAQ:SBFM) last announced its earnings results on Wednesday, May 13th. The company reported ($0.25) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.60) by $1.35. Sunshine Biopharma had a negative return on equity of 27.75% and a negative net margin of 18.45%.The firm had revenue of $8.09 million during the quarter, compared to analyst estimates of $9.20 million. On average, sell-side analysts expect that Sunshine Biopharma will post -6.3 earnings per share for the current fiscal year.

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.