Sunshine Biopharma (NASDAQ:SBFM) Shares Down 1.7% – Here’s What Happened

Sunshine Biopharma, Inc. (NASDAQ:SBFM)’s stock price was down 1.7% during trading on Thursday . The company traded as low as $2.22 and last traded at $2.26. Approximately 50,679 shares were traded during trading, a decline of 41% from the average daily volume of 85,539 shares. The stock had previously closed at $2.30.

Analysts Set New Price Targets

Separately, Aegis restated a “buy” rating and issued a $15.00 price target on shares of Sunshine Biopharma in a research report on Thursday, December 5th.

Sunshine Biopharma Stock Performance

The firm has a market cap of $2.72 million, a P/E ratio of -0.01 and a beta of 1.33. The business’s fifty day moving average is $2.78 and its 200-day moving average is $2.84.

Institutional Trading of Sunshine Biopharma

An institutional investor recently bought a new position in Sunshine Biopharma stock. Connective Capital Management LLC purchased a new stake in Sunshine Biopharma, Inc. (NASDAQ:SBFM) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 11,345 shares of the company’s stock, valued at approximately $34,000. Connective Capital Management LLC owned about 0.93% of Sunshine Biopharma at the end of the most recent quarter. Institutional investors own 41.98% of the company’s stock.

About Sunshine Biopharma

Sunshine Biopharma, Inc, a pharmaceutical company, focuses on the research and development of life-saving medicines in various therapeutic areas, including oncology and antivirals in the United States and Canada. It operates in two segments, Prescription Generic Pharmaceuticals and Nonprescription Over-The-Counter Products.