Sunshine Biopharma Inc. [NASDAQ: SBFM] loss -1.89% or -0.05 points to close at $2.60 with a heavy trading volume of 3197703 shares. The company report on April 28, 2022 that Sunshine Biopharma, Inc. Announces Closing of $19.5 Million Private Placement Priced At-the-Market.
Sunshine Biopharma, Inc. (NASDAQ: “SBFM” and “SBFMW”) (the “Company” or “Sunshine Biopharma”), a pharmaceutical company focused on the research, development and commercialization of oncology and antiviral drugs, today closed its previously announced private placement pursuant to a securities purchase agreement entered into on April 25, 2022 with certain institutional and accredited investors for aggregate gross proceeds of approximately $19.5 million, before deducting fees to the placement agent and other offering expenses payable by the Company.
In connection with the offering, the Company issued 4,862,845 units and pre-funded units at a purchase price of $4.01 per unit (or $4.009 per pre-funded unit), priced at-the-market under Nasdaq rules. Each unit and pre-funded unit consist of 1 share of common stock or common stock equivalent, and 2 non-tradable warrants, each warrant exercisable for one share of common stock for $3.76 (for a total of 9,725,690 shares underlying the warrants). The warrants have a term equal to five years from the issuance date. No actual units were issued in the offering.
It opened the trading session at $2.67, the shares rose to $2.84 and dropped to $2.54, the range by which the price of stock traded the whole day. The daily chart for SBFM points out that the company has recorded -84.71% loss over the past six months. However, it is still -72.19% lower than its most recent low trading price.
If we look at the average trading volume of 11.49M shares, SBFM reached to a volume of 3197703 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying about Sunshine Biopharma Inc. [SBFM]:
The Average True Range (ATR) for Sunshine Biopharma Inc. is set at 0.88, with the Price to Sales ratio for SBFM stock in the period of the last 12 months amounting to 94.12. The Price to Book ratio for the last quarter was 65.00, with the Price to Cash per share for the same quarter was set at 0.28.
Trading performance analysis for SBFM stock
Sunshine Biopharma Inc. [SBFM] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -13.62. With this latest performance, SBFM shares dropped by -53.65% in over the last four-week period, additionally sinking by -84.71% over the last 6 months – not to mention a drop of -90.64% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for SBFM stock in for the last two-week period is set at 42.28, with the RSI for the last a single of trading hit 37.70, and the three-weeks RSI is set at 43.74 for Sunshine Biopharma Inc. [SBFM]. The present Moving Average for the last 50 days of trading for this stock 3.21, while it was recorded at 2.75 for the last single week of trading, and 13.32 for the last 200 days.
Sunshine Biopharma Inc. [SBFM]: A deeper dive into fundamental analysis
Operating Margin for any stock indicates how profitable investing would be, and Sunshine Biopharma Inc. [SBFM] shares currently have an operating margin of -1068.24 and a Gross Margin at +42.84. Sunshine Biopharma Inc.’s Net Margin is presently recorded at -5444.41.
Sunshine Biopharma Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 22.90 and a Current Ratio set at 24.10.
An analysis of insider ownership at Sunshine Biopharma Inc. [SBFM]
There are presently around $0 million, or 0.03% of SBFM stock, in the hands of institutional investors. The top three institutional holders of SBFM stocks are: CAPTRUST FINANCIAL ADVISORS with ownership of 1,463, which is approximately New of the company’s market cap and around 12.41% of the total institutional ownership; NATIONAL BANK OF CANADA /FI/, holding 1,042 shares of the stock with an approximate value of $3000.0 in SBFM stocks shares; and SIGNATUREFD, LLC, currently with $1000.0 in SBFM stock with ownership of nearly New of the company’s market capitalization.
3 institutional holders increased their position in Sunshine Biopharma Inc. [NASDAQ:SBFM] by around 2,805 shares. Additionally, 0 investors decreased positions by around 0 shares, while 0 investors held positions by with 0 shares. The mentioned changes placed institutional holdings at 2,805 shares, according to the latest SEC report filing. SBFM stock had 3 new institutional investments in for a total of 2,805 shares, while 0 institutional investors sold positions of 0 shares during the same period.