Short Interest in Sunshine Biopharma, Inc. (NASDAQ:SBFM) Increases By 376.4%

Sunshine Biopharma, Inc. (NASDAQ:SBFM) saw a large increase in short interest in the month of May. As of May 15th, there was short interest totaling 496,125 shares, an increase of 376.4% from the April 30th total of 104,141 shares. Based on an average daily volume of 321,722 shares, the days-to-cover ratio is currently 1.5 days. Currently, 9.9% of the company’s stock are short sold.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Weiss Ratings reissued a “sell (e+)” rating on shares of Sunshine Biopharma in a research note on Tuesday, April 21st. Zacks Research raised shares of Sunshine Biopharma to a “hold” rating in a research note on Wednesday. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Sunshine Biopharma has a consensus rating of “Hold” and a consensus price target of $7.00.

Sunshine Biopharma Trading Down 19.8%

NASDAQ:SBFM traded down $0.06 during trading hours on Friday, hitting $0.25. 6,385,922 shares of the stock traded hands, compared to its average volume of 40,926,240. The firm has a 50 day moving average price of $0.87 and a 200 day moving average price of $1.15. Sunshine Biopharma has a fifty-two week low of $0.25 and a fifty-two week high of $2.43. The firm has a market cap of $1.27 million, a price-to-earnings ratio of -0.20 and a beta of 1.37.

Shares of Sunshine Biopharma are scheduled to reverse split on Monday, June 1st. The 1-10 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the market closes on Sunday, May 31st.

Sunshine Biopharma (NASDAQ:SBFM) last posted its quarterly earnings results on Wednesday, May 13th. The company reported ($0.25) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.09). Sunshine Biopharma had a negative return on equity of 27.75% and a negative net margin of 18.45%.The company had revenue of $8.09 million during the quarter, compared to analyst estimates of $9.20 million. Research analysts predict that Sunshine Biopharma will post -0.63 EPS for the current year.

Hedge Funds Weigh In On Sunshine Biopharma

Hedge funds have recently modified their holdings of the stock. Citadel Advisors LLC increased its stake in shares of Sunshine Biopharma by 23.1% in the third quarter. Citadel Advisors LLC now owns 78,087 shares of the company’s stock worth $116,000 after acquiring an additional 14,656 shares during the last quarter. Two Sigma Investments LP acquired a new position in shares of Sunshine Biopharma in the third quarter worth $32,000. Finally, Virtu Financial LLC acquired a new position in shares of Sunshine Biopharma in the fourth quarter worth $29,000. 41.98% of the stock is owned by institutional investors and hedge funds.

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.