Sunshine Biopharma (NASDAQ:SBFM) Shares Down 3.1%

Sunshine Biopharma, Inc. (NASDAQ:SBFM) was down 3.1% during trading on Tuesday . The company traded as low as $3.02 and last traded at $3.08. Approximately 82,076 shares traded hands 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 Trading Down 3.1 %

The stock has a fifty day moving average of $2.25 and a two-hundred day moving average of $0.87. The stock has a market capitalization 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 quarterly 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 during 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 lifted its stake in Sunshine Biopharma, Inc. (NASDAQ:SBFM) by 118.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,130,000 shares of the company’s stock after purchasing an additional 1,156,000 shares during the period. Armistice Capital LLC owned 8.29% of Sunshine Biopharma worth $578,000 at the end of the most recent quarter. 41.98% of the stock is currently owned by 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 in the United States and Canada. It operates in two segments, Prescription Generic Pharmaceuticals and Nonprescription Over-The-Counter Products.