Sunshine Biopharma, Inc. (NASDAQ:SBFM) Sees Large Growth in Short Interest

Sunshine Biopharma, Inc. (NASDAQ:SBFM) saw a large growth in short interest in the month of March. As of March 15th, there was short interest totalling 971,000 shares, a growth of 118.1% from the February 29th total of 445,300 shares. Based on an average daily trading volume, of 14,760,000 shares, the days-to-cover ratio is presently 0.1 days. Currently, 1.1% of the shares of the company are short sold.

Sunshine Biopharma Stock Performance

Sunshine Biopharma stock remained flat at $0.06 during trading hours on Thursday. 13,169,106 shares of the company’s stock were exchanged, compared to its average volume of 16,179,803. The stock has a market capitalization of $1.70 million, a PE ratio of -0.04 and a beta of 1.13. The company’s 50-day moving average price is $0.12 and its 200 day moving average price is $0.23. Sunshine Biopharma has a 52 week low of $0.04 and a 52 week high of $1.40.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Jane Street Group LLC acquired a new stake in Sunshine Biopharma in the first quarter valued at $31,000. Virtu Financial LLC acquired a new position in Sunshine Biopharma during the first quarter worth $34,000. Bank of Montreal Can acquired a new position in shares of Sunshine Biopharma during the 2nd quarter worth $40,000. Two Sigma Investments LP purchased a new stake in shares of Sunshine Biopharma in the 3rd quarter worth about $29,000. Finally, Armistice Capital LLC increased its holdings in Sunshine Biopharma by 118.7% during the 4th quarter. Armistice Capital LLC now owns 2,130,000 shares of the company’s stock valued at $578,000 after acquiring an additional 1,156,000 shares in the last quarter. 41.98% of the stock is owned by hedge funds and other institutional investors.

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. The company is developing Adva-27a, a GEM-difluorinated C-glycoside derivative of podophyllotoxin to treat leukemia, lymphoma, testicular, lung, brain, prostate, bladder, colon, ovarian, liver, and other forms of cancers, as well as kills multidrug resistant cancer cells, including pancreatic cancer, breast cancer, small-cell lung cancer, and uterine sarcoma cells; SBFM-PL4, an anti-coronavirus treatment compound; and K1.1 mRNA molecules used as anti-cancer agents.