Short Interest in Sunshine Biopharma, Inc. (NASDAQ:SBFM) Drops By 45.0%

Sunshine Biopharma, Inc. (NASDAQ:SBFM) saw a large drop in short interest in July. As of July 15th, there was short interest totaling 62,455 shares, a drop of 45.0% from the June 30th total of 113,463 shares. Based on an average daily trading volume, of 48,069 shares, the short-interest ratio is currently 1.3 days. Approximately 12.5% of the company’s stock are sold short.

Sunshine Biopharma Stock Performance

Shares of NASDAQ:SBFM traded down $0.20 during trading on Wednesday, reaching $1.23. 73,308 shares of the stock traded hands, compared to its average volume of 712,526. The stock has a market cap of $615,000.00, a P/E ratio of -0.10 and a beta of 1.13. The stock has a 50-day moving average of $2.40 and a two-hundred day moving average of $7.89. Sunshine Biopharma has a 52-week low of $1.23 and a 52-week high of $24.30.

Sunshine Biopharma (NASDAQ:SBFM) last issued its earnings results on Wednesday, May 13th. The company reported ($0.25) EPS for the quarter, beating the consensus estimate of ($1.60) by $1.35. The business had revenue of $8.09 million for the quarter, compared to the consensus estimate of $9.20 million. Sunshine Biopharma had a negative return on equity of 27.75% and a negative net margin of 18.45%. Sell-side analysts expect that Sunshine Biopharma will post -6.3 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on SBFM shares. Zacks Research raised Sunshine Biopharma to a “hold” rating in a research note on Wednesday, May 27th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Sunshine Biopharma in a research note on Friday, July 17th. 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. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $70.00.

Hedge Funds Weigh In On Sunshine Biopharma

A number of hedge funds have recently bought and sold shares of SBFM. Citadel Advisors LLC raised its position 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 buying an additional 14,656 shares during the last quarter. Two Sigma Investments LP purchased a new stake in shares of Sunshine Biopharma during the 3rd quarter valued at about $32,000. Finally, Virtu Financial LLC bought a new stake in shares of Sunshine Biopharma in the fourth quarter worth approximately $29,000. Hedge funds and other institutional investors own 41.98% of the company’s stock.

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.