Short Interest in Sunshine Biopharma, Inc. (NASDAQ:SBFM) Rises By 78.1%

Sunshine Biopharma, Inc. (NASDAQ:SBFM) saw a large increase in short interest in March. As of March 15th, there was short interest totalling 113,100 shares, an increase of 78.1% from the February 28th total of 63,500 shares. Based on an average trading volume of 78,400 shares, the days-to-cover ratio is currently 1.4 days. Approximately 4.2% of the shares of the stock are short sold.

Sunshine Biopharma Stock Performance

Shares of Sunshine Biopharma stock traded down $0.10 on Friday, hitting $2.00. The stock had a trading volume of 22,287 shares, compared to its average volume of 280,942. The stock has a 50 day moving average of $2.43 and a 200 day moving average of $2.73. Sunshine Biopharma has a twelve month low of $1.90 and a twelve month high of $265.00. The firm has a market capitalization of $2.45 million, a P/E ratio of -0.01 and a beta of 1.35.

Wall Street Analysts Forecast Growth

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

Institutional Trading of Sunshine Biopharma

A hedge fund recently bought a new stake in Sunshine Biopharma stock. Connective Capital Management LLC acquired a new position in Sunshine Biopharma, Inc. (NASDAQ:SBFM) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 11,345 shares of the company’s stock, valued at approximately $34,000. Connective Capital Management LLC owned 0.93% of Sunshine Biopharma at the end of the most recent reporting period. 41.98% of the stock is owned by institutional investors and hedge funds.

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.