Dare Bioscience, Inc. (NASDAQ:DARE) Short Interest Down 26.2% in March

Dare Bioscience, Inc. (NASDAQ:DARE) saw a significant drop in short interest in 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. Based on an average trading volume of 59,106 shares, the days-to-cover ratio is currently 3.6 days. Currently, 1.6% of the company’s stock are sold short.

Dare Bioscience Stock Up 18.1%

DARE stock opened at $1.83 on Tuesday. The stock’s 50 day moving average is $1.65 and its two-hundred day moving average is $1.88. Dare Bioscience has a 52-week low of $1.27 and a 52-week high of $9.19. The company has a market capitalization of $26.64 million, a PE ratio of -1.46 and a beta of 0.96.

Dare Bioscience (NASDAQ:DARE) last released its earnings results on Thursday, March 26th. The biotechnology company reported ($0.02) EPS for the quarter, beating the consensus estimate 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. As a group, sell-side analysts anticipate that Dare Bioscience will post -0.49 EPS for the current year.

Wall Street Analysts Forecast Growth

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

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Raymond James Financial Inc. grew its holdings in 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 in the last quarter. LPL Financial LLC acquired a new stake in shares of Dare Bioscience in the 4th quarter valued at about $28,000. Virtu Financial LLC acquired a new stake in shares of Dare Bioscience in the 3rd quarter valued at about $37,000. Finally, AMH Equity Ltd lifted its position in shares of Dare Bioscience by 20.0% during the third quarter. AMH Equity Ltd now owns 232,373 shares of the biotechnology company’s stock worth $488,000 after purchasing an additional 38,770 shares during the last quarter. 6.70% of the stock is currently owned by institutional investors.

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.