Short Interest in Sunshine Biopharma, Inc. (NASDAQ:SBFM) Decreases By 26.3%

Sunshine Biopharma, Inc. (NASDAQ:SBFM) was the target of a large decrease in short interest in the month of March. As of March 13th, there was short interest totaling 166,389 shares, a decrease of 26.3% from the February 26th total of 225,823 shares. Currently, 3.4% of the shares of the stock are sold short. Based on an average trading volume of 45,270 shares, the short-interest ratio is currently 3.7 days.

Wall Street Analyst Weigh In

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

Hedge Funds Weigh In On Sunshine Biopharma

A number of hedge funds and other institutional investors have recently bought and sold shares of SBFM. Citadel Advisors LLC raised its position in shares of Sunshine Biopharma by 23.1% during the 3rd 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 in the last quarter. Two Sigma Investments LP bought a new stake in shares of Sunshine Biopharma during the 3rd quarter worth $32,000. Finally, Virtu Financial LLC purchased a new position in Sunshine Biopharma in the fourth quarter worth $29,000. Hedge funds and other institutional investors own 41.98% of the company’s stock.

Sunshine Biopharma Trading Down 1.0%

Shares of NASDAQ SBFM opened at $1.01 on Tuesday. Sunshine Biopharma has a 12 month low of $1.00 and a 12 month high of $3.90. The firm has a market capitalization of $4.96 million, a price-to-earnings ratio of -0.99 and a beta of 1.50. The business has a 50-day moving average of $1.16 and a 200-day moving average of $1.39.

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.