Short Interest in Sunshine Biopharma, Inc. (NASDAQ:SBFM) Decreases By 87.9%

Sunshine Biopharma, Inc. (NASDAQ:SBFM) saw a large drop in short interest in the month of June. As of June 15th, there was short interest totaling 174,691 shares, a drop of 87.9% from the May 31st total of 1,443,031 shares. Approximately 35.0% of the company’s stock are short sold. Based on an average daily trading volume, of 1,382,111 shares, the short-interest ratio is currently 0.1 days.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on SBFM. Zacks Research raised shares of 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 research note on Tuesday, April 21st. One 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’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $70.00.

Sunshine Biopharma Trading Up 4.9%

Shares of NASDAQ:SBFM opened at $2.14 on Friday. The stock has a market capitalization of $1.07 million, a PE ratio of -0.17 and a beta of 1.12. Sunshine Biopharma has a 1 year low of $2.00 and a 1 year high of $24.30. The firm has a fifty day moving average price of $5.64 and a 200 day moving average price of $9.75.

Sunshine Biopharma (NASDAQ:SBFM) last posted its earnings results on Wednesday, May 13th. The company reported ($2.50) EPS for the quarter, missing the consensus estimate of ($1.60) by ($0.90). Sunshine Biopharma had a negative return on equity of 27.75% and a negative net margin of 18.45%.The business had revenue of $8.09 million for the quarter, compared to analyst estimates of $9.20 million. On average, sell-side analysts forecast that Sunshine Biopharma will post -6.3 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the stock. Two Sigma Investments LP bought a new position in shares of Sunshine Biopharma in the 3rd quarter valued at approximately $32,000. Citadel Advisors LLC boosted its position in 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 purchasing an additional 14,656 shares during the period. Finally, Virtu Financial LLC acquired a new position in Sunshine Biopharma during the fourth quarter valued at approximately $29,000. 41.98% of the stock is owned by institutional investors.

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.