Sunshine Biopharma (NASDAQ:SBFM) Stock Price Up 8% – Here’s Why

Sunshine Biopharma, Inc. (NASDAQ:SBFM)’s stock price was up 8% during mid-day trading on Monday . The stock traded as high as $1.36 and last traded at $1.35. Approximately 142,352 shares traded hands during trading, a decline of 76% from the average daily volume of 605,176 shares. The stock had previously closed at $1.25.

Sunshine Biopharma Stock Up 8.0%

The company has a fifty day simple moving average of $1.68 and a 200-day simple moving average of $2.37. The firm has a market cap of $3.65 million, a P/E ratio of -0.01 and a beta of 1.35.

Hedge Funds Weigh In On Sunshine Biopharma

An institutional investor recently bought a new position in Sunshine Biopharma stock. Connective Capital Management LLC acquired a new stake in Sunshine Biopharma, Inc. (NASDAQ:SBFM) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 11,345 shares of the company’s stock, valued at approximately $34,000. Connective Capital Management LLC owned approximately 0.93% of Sunshine Biopharma as of its most recent SEC filing. Hedge funds and other institutional investors own 41.98% of the company’s stock.

Sunshine Biopharma Company Profile

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.