Dare Bioscience (NASDAQ:DARE) Stock Crosses Below 200 Day Moving Average – Should You Sell?

Shares of Dare Bioscience, Inc. (NASDAQ:DARE) crossed below its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $1.95 and traded as low as $1.56. Dare Bioscience shares last traded at $1.57, with a volume of 47,187 shares changing hands.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. Weiss Ratings reissued a “sell (e+)” rating on shares of Dare Bioscience in a research report on Wednesday, January 21st. HC Wainwright reiterated a “buy” rating and set a $12.00 target price on shares of Dare Bioscience in a research note on Tuesday, December 2nd. Two analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Dare Bioscience presently has an average rating of “Hold” and an average price target of $10.00.

Dare Bioscience Price Performance

The company has a market cap of $21.86 million, a price-to-earnings ratio of -0.82 and a beta of 0.96. The company’s 50 day moving average price is $1.81 and its 200 day moving average price is $1.95. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.06.

Hedge Funds Weigh In On Dare Bioscience

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. LPL Financial LLC purchased a new position in shares of Dare Bioscience during the 4th quarter worth approximately $28,000. Raymond James Financial Inc. boosted its stake in shares of 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 buying an additional 13,650 shares in the last quarter. Virtu Financial LLC acquired a new position in Dare Bioscience during the third quarter worth $37,000. Finally, AMH Equity Ltd raised its position in Dare Bioscience by 20.0% in the third quarter. AMH Equity Ltd now owns 232,373 shares of the biotechnology company’s stock worth $488,000 after acquiring an additional 38,770 shares in the last quarter. 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.