Sunshine Biopharma (NASDAQ:SBFM) Shares to Reverse Split on Wednesday, April 17th

Shares of Sunshine Biopharma, Inc. (NASDAQ:SBFM) are going to reverse split on the morning of Wednesday, April 17th. The 1-100 reverse split was announced on Wednesday, April 17th. The number of shares owned by shareholders will be adjusted after the market closes on Wednesday, April 17th.

Sunshine Biopharma Stock Down 8.0 %

SBFM stock opened at $0.08 on Friday. Sunshine Biopharma has a 12 month low of $0.04 and a 12 month high of $1.40. The firm has a market cap of $7.97 million, a P/E ratio of -0.42 and a beta of 1.17. The company’s 50-day moving average price is $0.09 and its two-hundred day moving average price is $0.21.

Institutional Investors Weigh In On Sunshine Biopharma

A number of hedge funds have recently made changes to their positions in SBFM. Armistice Capital LLC boosted its stake in shares of Sunshine Biopharma by 118.7% in the 4th quarter. Armistice Capital LLC now owns 2,130,000 shares of the company’s stock valued at $578,000 after purchasing an additional 1,156,000 shares in the last quarter. Citadel Advisors LLC acquired a new stake in shares of Sunshine Biopharma in the 4th quarter valued at approximately $50,000. Two Sigma Investments LP acquired a new stake in shares of Sunshine Biopharma in the 3rd quarter valued at approximately $29,000. Virtu Financial LLC boosted its stake in shares of Sunshine Biopharma by 242.8% in the 2nd quarter. Virtu Financial LLC now owns 47,861 shares of the company’s stock valued at $52,000 after purchasing an additional 33,898 shares in the last quarter. Finally, Bank of Montreal Can acquired a new stake in shares of Sunshine Biopharma in the 2nd quarter valued at approximately $40,000. 41.98% of the stock is currently 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. 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.