Sunshine Biopharma, Inc. (NASDAQ:SBFM) Short Interest Down 41.5% in August

Sunshine Biopharma, Inc. (NASDAQ:SBFM) was the target of a large decrease in short interest during the month of August. As of August 14th, there was short interest totaling 73,942 shares, a decrease of 41.5% from the July 30th total of 126,399 shares. Approximately 1.9% of the company’s shares are short sold. Based on an average daily volume of 1,475,299 shares, the short-interest ratio is presently 0.1 days.

Institutional Investors Weigh In On Sunshine Biopharma

Several large investors have recently added to or reduced their stakes in SBFM. Two Sigma Investments LP purchased a new stake in shares of Sunshine Biopharma in the third quarter valued at $32,000. Citadel Advisors LLC boosted its holdings in 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 acquiring an additional 14,656 shares during the period. Finally, Virtu Financial LLC bought a new position in Sunshine Biopharma in the 4th quarter valued at $29,000. 41.98% of the stock is owned by institutional investors.

Sunshine Biopharma Stock Performance

Shares of NASDAQ SBFM traded down $0.01 during midday trading on Monday, hitting $1.14. 147,816 shares of the company traded hands, compared to its average volume of 787,445. Sunshine Biopharma has a 12-month low of $1.01 and a 12-month high of $24.30. The firm has a market cap of $4.42 million, a P/E ratio of -0.11 and a beta of 1.16. The stock has a 50-day moving average price of $1.61 and a 200 day moving average price of $6.08.

Sunshine Biopharma (NASDAQ:SBFM) last issued its quarterly earnings data on Thursday, August 13th. The company reported ($1.15) EPS for the quarter, topping the consensus estimate of ($1.20) by $0.05. The business had revenue of $9.26 million during the quarter, compared to analyst estimates of $8.70 million. Sunshine Biopharma had a negative net margin of 17.94% and a negative return on equity of 26.36%. As a group, equities analysts expect that Sunshine Biopharma will post -1.95 earnings per share for the current year.

Wall Street Analysts Forecast Growth

SBFM has been the topic of a number of recent analyst reports. Zacks Research upgraded Sunshine Biopharma to a “hold” rating in a research report on Wednesday, May 27th. Wall Street Zen upgraded Sunshine Biopharma to a “hold” rating in a report on Saturday, August 15th. Finally, Weiss Ratings raised Sunshine Biopharma from a “sell (e)” rating to a “sell (e+)” rating in a research note on Tuesday, August 25th. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Sunshine Biopharma 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.