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

Sunshine Biopharma, Inc. (NASDAQ:SBFM) saw a significant growth in short interest in July. As of July 31st, there was short interest totaling 126,399 shares, a growth of 102.4% from the July 15th total of 62,455 shares. Currently, 25.3% of the shares of the company are short sold. Based on an average daily volume of 153,914 shares, the short-interest ratio is presently 0.8 days.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Citadel Advisors LLC lifted its holdings in 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 purchasing an additional 14,656 shares in the last quarter. Two Sigma Investments LP purchased a new stake in Sunshine Biopharma during the 3rd quarter valued at approximately $32,000. Finally, Virtu Financial LLC purchased a new stake in Sunshine Biopharma during the 4th quarter valued at approximately $29,000. 41.98% of the stock is owned by hedge funds and other institutional investors.

Sunshine Biopharma Trading Down 4.2%

SBFM stock traded down $0.05 during trading on Friday, reaching $1.15. The company’s stock had a trading volume of 102,029 shares, compared to its average volume of 847,012. Sunshine Biopharma has a 1 year low of $1.10 and a 1 year high of $24.30. The company’s fifty day moving average is $1.82 and its 200-day moving average is $6.90.

Sunshine Biopharma (NASDAQ:SBFM) last announced its quarterly earnings data on Thursday, August 13th. The company reported ($1.15) EPS for the quarter, beating the consensus estimate of ($1.20) by $0.05. The business had revenue of $9.26 million for 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%. On average, analysts predict that Sunshine Biopharma will post -6.3 EPS for the current fiscal year.

Wall Street Analyst Weigh In

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

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.