Dare Bioscience, Inc. (NASDAQ:DARE) Short Interest Update

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

Wall Street Analysts Forecast Growth

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

Institutional Investors Weigh In On Dare Bioscience

A number of hedge funds have recently added to or reduced their stakes in DARE. AMH Equity Ltd boosted its position in Dare Bioscience by 20.0% in the 3rd quarter. AMH Equity Ltd now owns 232,373 shares of the biotechnology company’s stock valued at $488,000 after buying an additional 38,770 shares during the period. Virtu Financial LLC acquired a new stake in shares of Dare Bioscience in the third quarter valued at $37,000. Raymond James Financial Inc. raised 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 acquiring an additional 13,650 shares in the last quarter. Finally, LPL Financial LLC purchased a new position in Dare Bioscience in the fourth quarter valued at $28,000. 6.70% of the stock is currently owned by institutional investors and hedge funds.

Dare Bioscience Trading Up 18.8%

Dare Bioscience stock traded up $0.29 during midday trading on Monday, reaching $1.84. 367,599 shares of the stock traded hands, compared to its average volume of 83,433. The firm has a market cap of $26.82 million, a PE ratio of -1.49 and a beta of 0.96. The company has a 50-day simple moving average of $1.65 and a two-hundred day simple moving average of $1.88. Dare Bioscience has a 12-month low of $1.27 and a 12-month high of $9.19.

Dare Bioscience (NASDAQ:DARE) last issued its quarterly earnings results on Thursday, March 26th. The biotechnology company reported ($0.02) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.44) by $0.42. The business had revenue of $1.02 million for the quarter, compared to analysts’ expectations of $0.75 million. Equities research analysts anticipate that Dare Bioscience will post -0.49 earnings per share for the current year.

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.