Dare Bioscience, Inc. (NASDAQ:DARE) Short Interest Up 110.4% in April

Dare Bioscience, Inc. (NASDAQ:DARE) was the target of a large growth in short interest during the month of April. As of April 30th, there was short interest totaling 358,082 shares, a growth of 110.4% from the April 15th total of 170,167 shares. Currently, 2.6% of the shares of the stock are short sold. Based on an average trading volume of 1,546,863 shares, the days-to-cover ratio is currently 0.2 days.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. LPL Financial LLC acquired a new stake in Dare Bioscience during the fourth quarter valued at $28,000. Raymond James Financial Inc. boosted its position in 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 purchasing an additional 13,650 shares during the last quarter. Virtu Financial LLC acquired a new stake in Dare Bioscience during the third quarter valued at $37,000. Finally, AMH Equity Ltd boosted its position 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 during the last quarter. Hedge funds and other institutional investors own 6.70% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Dare Bioscience in a report on Monday, April 20th. Two research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Dare Bioscience has a consensus rating of “Hold” and a consensus target price of $10.00.

Dare Bioscience Stock Performance

Shares of DARE stock traded up $0.01 on Monday, reaching $2.18. 201,635 shares of the company’s stock traded hands, compared to its average volume of 404,189. Dare Bioscience has a 12-month low of $1.27 and a 12-month high of $9.19. The company has a market capitalization of $32.58 million, a P/E ratio of -2.28 and a beta of 1.09. The business’s 50 day moving average price is $1.99 and its two-hundred day moving average price is $1.92.

Dare Bioscience (NASDAQ:DARE) last issued its quarterly earnings results on Thursday, May 14th. The biotechnology company reported ($0.20) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.33) by $0.13. The business had revenue of $0.15 million for the quarter, compared to analysts’ expectations of $0.03 million. Research analysts predict that Dare Bioscience will post -1.5 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.