Dare Bioscience (NASDAQ:DARE) Shares Pass Below 200-Day Moving Average – Here’s Why

Dare Bioscience, Inc. (NASDAQ:DARE)’s stock price passed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $2.41 and traded as low as $1.88. Dare Bioscience shares last traded at $1.89, with a volume of 162,748 shares changing hands.

Analyst Ratings Changes

Several brokerages have recently weighed in on DARE. Wall Street Zen raised Dare Bioscience to a “hold” rating in a research report on Saturday, August 16th. Weiss Ratings reissued a “sell (e+)” rating on shares of Dare Bioscience in a research report on Wednesday, October 8th. Finally, Maxim Group raised shares of Dare Bioscience from a “hold” rating to a “buy” rating and set a $8.00 price objective for the company in a research report on Thursday, September 4th. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $10.00.

Dare Bioscience Price Performance

The stock has a market capitalization of $25.48 million, a price-to-earnings ratio of -0.88 and a beta of 1.14. The firm’s fifty day moving average is $2.06 and its 200-day moving average is $2.41.

Dare Bioscience (NASDAQ:DARE) last released its earnings results on Thursday, November 13th. The biotechnology company reported ($0.28) earnings per share for the quarter, topping the consensus estimate of ($0.33) by $0.05. The company had revenue of $0.00 million during the quarter, compared to the consensus estimate of $0.01 million. On average, sell-side analysts expect that Dare Bioscience, Inc. will post -0.49 EPS for the current year.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Dare Bioscience stock. AMH Equity Ltd lifted its holdings in shares of Dare Bioscience, Inc. (NASDAQ:DARE) by 17.8% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 193,603 shares of the biotechnology company’s stock after buying an additional 29,301 shares during the period. AMH Equity Ltd owned 2.14% of Dare Bioscience worth $463,000 at the end of the most recent reporting period. 6.70% of the stock is currently owned by hedge funds and other institutional investors.

Dare Bioscience Company Profile

Daré Bioscience, Inc, a biopharmaceutical company, identifies, develops, and markets products for women's health in the United States. It develops therapies in the areas of contraception, reproductive health, menopause, fertility, and sexual and vaginal health. The company offers XACIATO for the treatment of bacterial vaginosis in female patients 12 years of age and older.