Short Interest in Dare Bioscience, Inc. (NASDAQ:DARE) Declines By 26.2%

Dare Bioscience, Inc. (NASDAQ:DARE) was the recipient of a large decline in short interest in March. As of March 13th, there was short interest totaling 214,286 shares, a decline of 26.2% from the February 26th total of 290,470 shares. Currently, 1.6% of the company’s stock are short sold. Based on an average trading volume of 59,106 shares, the short-interest ratio is presently 3.6 days.

Dare Bioscience Stock Up 2.6%

Shares of DARE stock traded up $0.04 during trading hours on Friday, reaching $1.55. 266,446 shares of the company’s stock were exchanged, compared to its average volume of 76,354. The stock’s 50 day moving average is $1.65 and its 200-day moving average is $1.88. The company has a market cap of $22.15 million, a price-to-earnings ratio of -1.24 and a beta of 0.96. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.06. Dare Bioscience has a fifty-two week low of $1.27 and a fifty-two week high of $9.19.

Dare Bioscience (NASDAQ:DARE) last posted its quarterly earnings data on Thursday, March 26th. The biotechnology company reported ($0.02) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.44) by $0.42. The business had revenue of $1.02 million during the quarter, compared to analyst estimates of $0.75 million. Analysts predict that Dare Bioscience will post -0.49 earnings per share for the current fiscal year.

Analyst Ratings Changes

DARE has been the topic of a number of recent research reports. HC Wainwright reaffirmed a “buy” rating and set a $12.00 price objective on shares of Dare Bioscience in a research report on Tuesday, December 2nd. Weiss Ratings reiterated a “sell (e+)” rating on shares of Dare Bioscience in a report on Wednesday, January 21st. Two research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $10.00.

Institutional Investors Weigh In On Dare Bioscience

A number of large investors have recently modified their holdings of the business. LPL Financial LLC acquired a new position in shares of Dare Bioscience during the fourth quarter valued at about $28,000. Raymond James Financial Inc. boosted its stake in Dare Bioscience by 810.6% in 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 in the last quarter. Virtu Financial LLC purchased a new stake in Dare Bioscience during the 3rd quarter worth approximately $37,000. Finally, AMH Equity Ltd increased its stake in Dare Bioscience by 20.0% during the 3rd quarter. AMH Equity Ltd now owns 232,373 shares of the biotechnology company’s stock valued at $488,000 after purchasing an additional 38,770 shares in the last quarter. Hedge funds and other institutional investors own 6.70% of the company’s stock.

About Dare Bioscience

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.