Sunshine Biopharma (NASDAQ:SBFM) Trading Down 3.1%

Shares of Sunshine Biopharma, Inc. (NASDAQ:SBFM) were down 3.1% on Tuesday . The company traded as low as $3.02 and last traded at $3.08. Approximately 82,076 shares were traded during trading, a decline of 72% from the average daily volume of 290,862 shares. The stock had previously closed at $3.18.

Sunshine Biopharma Price Performance

The firm has a 50 day moving average price of $2.25 and a 200-day moving average price of $0.87. The firm has a market cap of $3.76 million, a price-to-earnings ratio of -0.24 and a beta of 1.36.

Sunshine Biopharma (NASDAQ:SBFM) last released its earnings results on Friday, August 16th. The company reported ($9.94) earnings per share (EPS) for the quarter. The business had revenue of $9.30 million for the quarter. Sunshine Biopharma had a negative net margin of 12.07% and a negative return on equity of 16.09%.

Hedge Funds Weigh In On Sunshine Biopharma

An institutional investor recently raised its position in Sunshine Biopharma stock. Armistice Capital LLC raised its holdings in shares of Sunshine Biopharma, Inc. (NASDAQ:SBFM) by 118.7% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 2,130,000 shares of the company’s stock after acquiring 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. Institutional investors and hedge funds own 41.98% of the company’s stock.

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.