Sunshine Biopharma (NASDAQ:SBFM) Trading Down 3.8% – Here’s What Happened

Sunshine Biopharma, Inc. (NASDAQ:SBFM)’s stock price fell 3.8% during trading on Monday . The company traded as low as $2.03 and last traded at $2.05. 72,764 shares traded hands during trading, a decline of 93% from the average session volume of 999,015 shares. The stock had previously closed at $2.13.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Sunshine Biopharma in a research note on Tuesday, April 21st. Zacks Research raised shares of Sunshine Biopharma to a “hold” rating in a research note on Wednesday, May 27th. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Sunshine Biopharma has an average rating of “Hold” and an average price target of $70.00.

Sunshine Biopharma Price Performance

The firm has a fifty day moving average of $5.95 and a 200-day moving average of $9.93. The firm has a market cap of $1.02 million, a P/E ratio of -0.16 and a beta of 1.12.

Sunshine Biopharma (NASDAQ:SBFM) last announced its quarterly earnings data on Wednesday, May 13th. The company reported ($2.50) earnings per share for the quarter, missing the consensus estimate of ($1.60) by ($0.90). The firm had revenue of $8.09 million for the quarter, compared to the consensus estimate of $9.20 million. Sunshine Biopharma had a negative return on equity of 27.75% and a negative net margin of 18.45%. Sell-side analysts anticipate that Sunshine Biopharma, Inc. will post -6.3 EPS for the current year.

Hedge Funds Weigh In On Sunshine Biopharma

Large investors have recently bought and sold shares of the business. Citadel Advisors LLC grew 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 acquiring an additional 14,656 shares during the period. Two Sigma Investments LP acquired a new position in shares of Sunshine Biopharma in the 3rd quarter valued at $32,000. Finally, Virtu Financial LLC bought a new position in shares of Sunshine Biopharma in the 4th quarter worth $29,000. 41.98% of the stock is currently owned by institutional investors and hedge funds.

Sunshine Biopharma Company Profile

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.