Short Interest in Dare Bioscience, Inc. (NASDAQ:DARE) Drops By 32.4%

Dare Bioscience, Inc. (NASDAQ:DARE) was the recipient of a significant decrease in short interest in the month of December. As of December 31st, there was short interest totaling 314,953 shares, a decrease of 32.4% from the December 15th total of 466,123 shares. Currently, 2.3% of the shares of the company are sold short. Based on an average daily volume of 202,947 shares, the days-to-cover ratio is currently 1.6 days. Based on an average daily volume of 202,947 shares, the days-to-cover ratio is currently 1.6 days. Currently, 2.3% of the shares of the company are sold short.

Dare Bioscience Stock Performance

DARE stock traded up $0.03 during trading on Friday, reaching $1.98. 21,806 shares of the stock were exchanged, compared to its average volume of 60,740. Dare Bioscience has a twelve month low of $1.61 and a twelve month high of $9.19. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.06. The company has a market capitalization of $28.22 million, a P/E ratio of -1.06 and a beta of 0.78. The stock has a 50 day simple moving average of $1.95 and a 200-day simple moving average of $2.11.

Dare Bioscience (NASDAQ:DARE) last announced its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $0.01 million. As a group, sell-side analysts anticipate that Dare Bioscience will post -0.49 earnings per share for the current year.

Hedge Funds Weigh In On Dare Bioscience

A number of hedge funds have recently made changes to their positions in DARE. Raymond James Financial Inc. lifted its holdings in shares of Dare Bioscience by 810.6% during the 3rd quarter. Raymond James Financial Inc. now owns 15,334 shares of the biotechnology company’s stock worth $32,000 after acquiring an additional 13,650 shares during the period. Virtu Financial LLC acquired a new position in Dare Bioscience in the third quarter worth about $37,000. Finally, AMH Equity Ltd boosted its holdings in Dare Bioscience by 20.0% during the third 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. Institutional investors and hedge funds own 6.70% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on DARE shares. HC Wainwright restated a “buy” rating and issued a $12.00 price objective on shares of Dare Bioscience in a research note on Tuesday, December 2nd. Weiss Ratings reiterated a “sell (e+)” rating on shares of Dare Bioscience in a report on Wednesday, October 8th. Two analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $10.00.

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.