Dare Bioscience (NASDAQ:DARE) Stock Crosses Below 200 Day Moving Average – What’s Next?

Dare Bioscience, Inc. (NASDAQ:DARE)’s share price passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $1.97 and traded as low as $1.65. Dare Bioscience shares last traded at $1.72, with a volume of 123,858 shares traded.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on DARE. HC Wainwright reaffirmed a “buy” rating and issued a $12.00 target price on shares of Dare Bioscience in a report on Tuesday, December 2nd. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Dare Bioscience in a research note on Wednesday, January 21st. Two investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $10.00.

Dare Bioscience Price Performance

The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.18 and a current ratio of 1.18. The company has a market cap of $24.58 million, a P/E ratio of -0.92 and a beta of 0.93. The firm’s fifty day moving average is $1.89 and its two-hundred day moving average is $1.97.

Institutional Trading of Dare Bioscience

Several institutional investors and hedge funds have recently added to or reduced their stakes in DARE. LPL Financial LLC purchased a new position in Dare Bioscience in the 4th quarter worth approximately $28,000. Raymond James Financial Inc. raised its position in shares of Dare Bioscience by 810.6% during 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 during the last quarter. Virtu Financial LLC purchased a new position in shares of Dare Bioscience in the third quarter worth $37,000. Finally, AMH Equity Ltd boosted its position in shares of Dare Bioscience by 17.8% during the second quarter. AMH Equity Ltd now owns 193,603 shares of the biotechnology company’s stock worth $463,000 after acquiring an additional 29,301 shares during the last quarter. Institutional investors 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.