Short Interest in Sunshine Biopharma, Inc. (NASDAQ:SBFM) Increases By 894.9%

Sunshine Biopharma, Inc. (NASDAQ:SBFM) was the recipient of a significant growth in short interest during the month of June. As of June 15th, there was short interest totalling 1,570,000 shares, a growth of 894.9% from the May 31st total of 157,800 shares. Currently, 8.3% of the shares of the stock are sold short. Based on an average daily trading volume, of 4,090,000 shares, the days-to-cover ratio is presently 0.4 days.

Hedge Funds Weigh In On Sunshine Biopharma

A hedge fund recently raised its stake in Sunshine Biopharma stock. Armistice Capital LLC lifted its stake in shares of Sunshine Biopharma, Inc. (NASDAQ:SBFM) by 118.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,130,000 shares of the company’s stock after purchasing an additional 1,156,000 shares during the period. Armistice Capital LLC owned approximately 8.29% of Sunshine Biopharma worth $578,000 at the end of the most recent reporting period. 41.98% of the stock is currently owned by hedge funds and other institutional investors.

Sunshine Biopharma Stock Performance

Sunshine Biopharma stock traded down $0.02 during trading hours on Friday, hitting $0.42. 1,500,644 shares of the stock were exchanged, compared to its average volume of 2,242,385. The stock has a market capitalization of $7.91 million, a P/E ratio of -0.03 and a beta of 1.51. Sunshine Biopharma has a 12 month low of $0.28 and a 12 month high of $64.50. The business’s 50-day moving average is $0.72 and its two-hundred day moving average is $10.43.

Sunshine Biopharma (NASDAQ:SBFM) last issued its quarterly earnings data on Monday, May 20th. The company reported ($2.00) earnings per share for the quarter. The firm had revenue of $7.54 million for the quarter. Sunshine Biopharma had a negative return on equity of 17.95% and a negative net margin of 15.29%.

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.