Dare Bioscience (NASDAQ:DARE) Stock Passes Below Two Hundred Day Moving Average – Here’s What Happened

Dare Bioscience, Inc. (NASDAQ:DARE)’s share price passed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $1.96 and traded as low as $1.23. Dare Bioscience shares last traded at $1.25, with a volume of 418,278 shares changing hands.

Analyst Ratings Changes

DARE has been the subject of a number of recent research reports. Wall Street Zen upgraded shares of Dare Bioscience to a “hold” rating in a report on Saturday, May 23rd. Weiss Ratings restated a “sell (e+)” rating on shares of Dare Bioscience in a report on Friday, July 17th. Two investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Dare Bioscience has a consensus rating of “Hold” and a consensus price target of $10.00.

Dare Bioscience Price Performance

The firm has a fifty day simple moving average of $2.08 and a 200 day simple moving average of $1.96. The company has a market cap of $19.00 million, a price-to-earnings ratio of -1.33 and a beta of 1.03.

Dare Bioscience (NASDAQ:DARE) last released its quarterly earnings results on Thursday, May 14th. The biotechnology company reported ($0.20) EPS for the quarter, beating analysts’ consensus estimates of ($0.33) by $0.13. The firm had revenue of $0.15 million during the quarter, compared to the consensus estimate of $0.03 million. Analysts expect that Dare Bioscience, Inc. will post -0.97 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Virtu Financial LLC acquired a new stake in shares of Dare Bioscience in the third quarter valued at about $37,000. Raymond James Financial Inc. lifted its position in shares of Dare Bioscience by 810.6% during the 3rd quarter. Raymond James Financial Inc. now owns 15,334 shares of the biotechnology company’s stock worth $32,000 after purchasing an additional 13,650 shares during the last quarter. Finally, LPL Financial LLC acquired a new position in shares of Dare Bioscience during the 4th quarter worth about $28,000. Institutional investors and hedge funds own 6.70% of the company’s stock.

Dare Bioscience Company Profile

Dare Bioscience, Inc is a clinical-stage biopharmaceutical company focused on developing innovative therapies for women’s reproductive health. The company’s flagship development candidate is Ovaprene, a monthly, self-administered, non-hormonal contraceptive vaginal ring designed to offer an alternative to traditional hormone-based birth control methods. Through its proprietary intravaginal drug delivery platform, Dare seeks to address unmet medical needs in gynecology and contraception with products that prioritize efficacy, safety and ease of use.

In addition to its lead contraceptive program, Dare is advancing a pipeline of early-stage assets aimed at treating gynecologic conditions through local, non-systemic drug delivery.