Sunshine Biopharma, Inc. (NASDAQ:SBFM – Get Rating) was the target of a large drop in short interest in the month of August. As of August 31st, there was short interest totalling 396,100 shares, a drop of 32.9% from the August 15th total of 590,700 shares. Currently, 2.5% of the company's shares are sold short. Based on an average daily volume of 1,100,000 shares, the days-to-cover ratio is currently 0.4 days.
Hedge Funds Weigh In On Sunshine Biopharma
Institutional investors have recently bought and sold shares of the stock. Jane Street Group LLC purchased a new position in Sunshine Biopharma in the 1st quarter worth about $31,000. Virtu Financial LLC purchased a new position in Sunshine Biopharma in the 1st quarter worth about $34,000. Bank of Montreal Can purchased a new position in Sunshine Biopharma in the 2nd quarter worth about $40,000. Finally, Empery Asset Management LP purchased a new position in Sunshine Biopharma in the 1st quarter worth about $1,104,000. Hedge funds and other institutional investors own 3.90% of the company's stock.
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Sunshine Biopharma Price Performance
Shares of SBFM opened at $1.04 on Wednesday. The business's 50-day moving average price is $1.14 and its 200 day moving average price is $1.98. Sunshine Biopharma has a 1-year low of $1.01 and a 1-year high of $29.80.
About Sunshine Biopharma
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Sunshine Biopharma, Inc, a pharmaceutical and nutritional supplement company, focuses on the research and development of anticancer drugs. 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; and SBFM-PL4, an anti-coronavirus treatment compound.
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