Short Interest in Dare Bioscience, Inc. (NASDAQ:DARE) Declines By 19.5%

Dare Bioscience, Inc. (NASDAQ:DARE) was the recipient of a significant decline in short interest in the month of April. As of April 15th, there was short interest totaling 170,167 shares, a decline of 19.5% from the March 31st total of 211,491 shares. Based on an average trading volume of 66,992 shares, the short-interest ratio is presently 2.5 days. Approximately 1.2% of the company’s shares are short sold.

Dare Bioscience Trading Up 2.6%

NASDAQ:DARE traded up $0.06 during trading hours on Friday, hitting $2.34. The stock had a trading volume of 351,417 shares, compared to its average volume of 914,422. The company has a market cap of $34.07 million, a PE ratio of -1.87 and a beta of 1.09. The business has a 50 day simple moving average of $1.78 and a two-hundred day simple moving average of $1.88. Dare Bioscience has a 1-year low of $1.27 and a 1-year high of $9.19.

Dare Bioscience (NASDAQ:DARE) last posted its earnings results on Thursday, March 26th. The biotechnology company reported ($0.02) EPS for the quarter, topping analysts’ consensus estimates of ($0.44) by $0.42. The firm had revenue of $1.02 million for the quarter, compared to analyst estimates of $0.75 million. Research analysts expect that Dare Bioscience will post -1.5 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Dare Bioscience in a research note on Monday, April 20th. Two analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $10.00.

Hedge Funds Weigh In On Dare Bioscience

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. LPL Financial LLC purchased a new stake in shares of Dare Bioscience during the fourth quarter worth about $28,000. Raymond James Financial Inc. boosted its holdings 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 purchasing an additional 13,650 shares during the last quarter. Virtu Financial LLC acquired a new stake in Dare Bioscience during the 3rd quarter valued at approximately $37,000. Finally, AMH Equity Ltd grew 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. 6.70% of the stock is owned by hedge funds and other institutional investors.

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.