Sunshine Biopharma (NASDAQ:SBFM) Shares to Reverse Split on Monday, June 1st

Sunshine Biopharma, Inc. (NASDAQ:SBFM)’s stock is set to reverse split before the market opens on Monday, June 1st. The 1-10 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the closing bell on Sunday, May 31st.

Sunshine Biopharma Price Performance

Shares of NASDAQ:SBFM traded down $0.11 during trading on Thursday, hitting $0.32. 10,390,359 shares of the company were exchanged, compared to its average volume of 40,397,936. The stock has a market capitalization of $1.59 million, a P/E ratio of -0.25 and a beta of 1.37. Sunshine Biopharma has a 12-month low of $0.28 and a 12-month high of $2.43. The firm’s 50 day moving average price is $0.89 and its 200-day moving average price is $1.15.

Sunshine Biopharma (NASDAQ:SBFM) last issued its quarterly earnings data on Wednesday, May 13th. The company reported ($0.25) earnings per share for the quarter, missing the consensus estimate of ($0.16) by ($0.09). The company had revenue of $8.09 million for 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 anticipate that Sunshine Biopharma will post -0.63 EPS for the current year.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Sunshine Biopharma in a report on Tuesday, April 21st. One research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Sunshine Biopharma presently has an average rating of “Hold” and a consensus price target of $7.00.

Institutional Investors Weigh In On Sunshine Biopharma

Institutional investors have recently made changes to their positions in the stock. Two Sigma Investments LP purchased a new stake in shares of Sunshine Biopharma during the 3rd quarter worth $32,000. Virtu Financial LLC purchased a new stake in shares of Sunshine Biopharma during the 4th quarter worth $29,000. Finally, Citadel Advisors LLC boosted its position in shares of 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 purchasing an additional 14,656 shares in the last quarter. 41.98% of the stock is currently owned by hedge funds and other institutional investors.

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.