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

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

Hedge Funds Weigh In On Sunshine Biopharma

Several large investors have recently modified their holdings of the business. Virtu Financial LLC bought a new stake in shares of Sunshine Biopharma in the fourth quarter worth $29,000. Two Sigma Investments LP bought a new position in Sunshine Biopharma during the 3rd quarter worth $32,000. Finally, Citadel Advisors LLC lifted 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 worth $116,000 after buying an additional 14,656 shares during the period. Institutional investors own 41.98% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on SBFM. Weiss Ratings lowered shares of Sunshine Biopharma from a “sell (e+)” rating to a “sell (e)” rating in a research report on Tuesday, August 11th. Wall Street Zen upgraded shares of Sunshine Biopharma to a “hold” rating in a report on Saturday. Finally, Zacks Research upgraded Sunshine Biopharma to a “hold” rating in a research note on Wednesday, May 27th. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Sunshine Biopharma presently has a consensus rating of “Hold” and an average price target of $70.00.

Sunshine Biopharma Stock Performance

Shares of SBFM stock opened at $1.15 on Monday. The firm has a market capitalization of $575,000.00, a price-to-earnings ratio of -0.11 and a beta of 1.17. The business’s 50-day moving average price is $1.82 and its 200-day moving average price is $6.86. Sunshine Biopharma has a 12 month low of $1.10 and a 12 month high of $24.30.

Sunshine Biopharma (NASDAQ:SBFM) last released its quarterly earnings data on Thursday, August 13th. The company reported ($1.15) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.20) by $0.05. Sunshine Biopharma had a negative return on equity of 26.36% and a negative net margin of 17.94%.The company had revenue of $9.26 million during the quarter, compared to the consensus estimate of $8.70 million. On average, sell-side analysts predict that Sunshine Biopharma will post -6.3 earnings per share for the current fiscal year.

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.