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

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 mid-day trading on Thursday, reaching $0.32. 10,390,359 shares of the company were exchanged, compared to its average volume of 8,131,556. The firm has a market cap of $1.59 million, a price-to-earnings ratio of -0.25 and a beta of 1.37. The firm’s 50-day simple moving average is $0.90 and its 200 day simple moving average is $1.16. Sunshine Biopharma has a 1 year low of $0.28 and a 1 year high of $2.43.

Sunshine Biopharma (NASDAQ:SBFM) last posted its quarterly earnings data on Wednesday, May 13th. The company reported ($0.25) earnings per share for the quarter, missing analysts’ consensus estimates 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%.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Sunshine Biopharma in a report on Tuesday, April 21st. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, Sunshine Biopharma presently has a consensus rating of “Hold” and a consensus target price of $7.00.

Institutional Investors Weigh In On Sunshine Biopharma

Hedge funds have recently added to or reduced their stakes in the business. Two Sigma Investments LP acquired a new stake in Sunshine Biopharma during the 3rd quarter worth approximately $32,000. Virtu Financial LLC acquired a new stake in Sunshine Biopharma during the 4th quarter worth approximately $29,000. Finally, Citadel Advisors LLC lifted 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 buying an additional 14,656 shares in the last quarter. 41.98% of the stock is currently owned by institutional investors and hedge funds.

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.