Dare Bioscience (NASDAQ:DARE) Stock Passes Below 200 Day Moving Average – Here’s Why

Dare Bioscience, Inc. (NASDAQ:DARE)’s stock price crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $2.10 and traded as low as $1.85. Dare Bioscience shares last traded at $1.95, with a volume of 78,714 shares changing hands.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on DARE shares. HC Wainwright reaffirmed a “buy” rating and set a $12.00 target price on shares of Dare Bioscience in a research report on Tuesday, December 2nd. Weiss Ratings restated a “sell (e+)” rating on shares of Dare Bioscience in a research note on Wednesday. Two research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $10.00.

Dare Bioscience Stock Down 1.0%

The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.06. The firm has a market capitalization of $27.87 million, a price-to-earnings ratio of -1.04 and a beta of 0.78. The stock has a 50 day moving average of $1.96 and a 200 day moving average of $2.09.

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

Institutional Trading of Dare Bioscience

A number of institutional investors and hedge funds have recently modified their holdings of the business. AMH Equity Ltd boosted its holdings in shares of Dare Bioscience by 20.0% in the 3rd quarter. AMH Equity Ltd now owns 232,373 shares of the biotechnology company’s stock valued at $488,000 after buying an additional 38,770 shares during the period. Virtu Financial LLC bought a new position in Dare Bioscience in the third quarter worth about $37,000. Finally, Raymond James Financial Inc. boosted its stake in Dare Bioscience by 810.6% in the third quarter. Raymond James Financial Inc. now owns 15,334 shares of the biotechnology company’s stock valued at $32,000 after acquiring an additional 13,650 shares during the period. 6.70% of the stock is owned by institutional investors and hedge funds.

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.