Sunshine Biopharma, Inc. (NASDAQ:SBFM) Short Interest Down 35.0% in June

Sunshine Biopharma, Inc. (NASDAQ:SBFM) saw a significant decrease in short interest during the month of June. As of June 30th, there was short interest totaling 113,463 shares, a decrease of 35.0% from the June 15th total of 174,691 shares. Approximately 22.7% of the company’s stock are sold short. Based on an average daily volume of 128,062 shares, the short-interest ratio is currently 0.9 days.

Institutional Investors Weigh In On Sunshine Biopharma

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Citadel Advisors LLC boosted its holdings 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 valued at $116,000 after acquiring an additional 14,656 shares during the period. Virtu Financial LLC purchased a new position in shares of Sunshine Biopharma during the fourth quarter worth approximately $29,000. Finally, Two Sigma Investments LP purchased a new position in shares of Sunshine Biopharma during the third quarter worth approximately $32,000. Hedge funds and other institutional investors own 41.98% of the company’s stock.

Wall Street Analyst Weigh In

SBFM has been the subject of several recent analyst reports. Zacks Research upgraded shares of Sunshine Biopharma to a “hold” rating in a research report on Wednesday, May 27th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Sunshine Biopharma in a research report on Tuesday, April 21st. 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 data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $70.00.

Sunshine Biopharma Price Performance

Shares of SBFM traded down $0.02 during midday trading on Friday, reaching $1.81. 16,638 shares of the stock were exchanged, compared to its average volume of 750,817. Sunshine Biopharma has a twelve month low of $1.80 and a twelve month high of $24.30. The company has a market capitalization of $903,500.00, a price-to-earnings ratio of -0.14 and a beta of 1.13. The business’s 50-day moving average price is $3.23 and its 200 day moving average price is $8.52.

Sunshine Biopharma (NASDAQ:SBFM) last announced its earnings results on Wednesday, May 13th. The company reported ($0.25) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.60) by $1.35. The firm had revenue of $8.09 million during the quarter, compared to analysts’ expectations of $9.20 million. Sunshine Biopharma had a negative return on equity of 27.75% and a negative net margin of 18.45%. As a group, equities research analysts expect 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.