Short Interest in Sunshine Biopharma, Inc. (NASDAQ:SBFM) Decreases By 87.9%
by Amy Steele · The Cerbat GemSunshine Biopharma, Inc. (NASDAQ:SBFM – Get Free Report) was the target of a significant decrease in short interest in the month of June. As of June 15th, there was short interest totaling 174,691 shares, a decrease of 87.9% from the May 31st total of 1,443,031 shares. Based on an average trading volume of 1,382,111 shares, the days-to-cover ratio is currently 0.1 days. Approximately 35.0% of the company’s shares are short sold.
Hedge Funds Weigh In On Sunshine Biopharma
Hedge funds have recently added to or reduced their stakes in the stock. Citadel Advisors LLC raised its stake in shares of Sunshine Biopharma by 23.1% during 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 in the last quarter. Virtu Financial LLC bought a new position in Sunshine Biopharma in the fourth quarter worth approximately $29,000. Finally, Two Sigma Investments LP bought a new position in Sunshine Biopharma in the third quarter worth approximately $32,000. 41.98% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
A number of research firms recently commented on SBFM. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Sunshine Biopharma in a research note on Tuesday, April 21st. Zacks Research upgraded Sunshine Biopharma to a “hold” rating in a research report on Wednesday, May 27th. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Sunshine Biopharma has a consensus rating of “Hold” and an average target price of $70.00.
Read Our Latest Research Report on Sunshine Biopharma
Sunshine Biopharma Stock Performance
SBFM stock traded up $0.04 during midday trading on Friday, reaching $2.18. The company’s stock had a trading volume of 63,003 shares, compared to its average volume of 923,123. The stock has a fifty day simple moving average of $5.49 and a two-hundred day simple moving average of $9.70. Sunshine Biopharma has a 1 year low of $2.00 and a 1 year high of $24.30. The firm has a market capitalization of $1.09 million, a price-to-earnings ratio of -0.17 and a beta of 1.12.
Sunshine Biopharma (NASDAQ:SBFM – Get Free Report) last issued its earnings results on Wednesday, May 13th. The company reported ($2.50) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.60) by ($0.90). The company had revenue of $8.09 million for the quarter, compared to analysts’ expectations of $9.20 million. Sunshine Biopharma had a negative net margin of 18.45% and a negative return on equity of 27.75%. As a group, analysts forecast that Sunshine Biopharma will post -6.3 EPS 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.