Short Interest in Dare Bioscience, Inc. (NASDAQ:DARE) Expands By 142.1%

Dare Bioscience, Inc. (NASDAQ:DARE) saw a large increase in short interest in December. As of December 15th, there was short interest totaling 466,123 shares, an increase of 142.1% from the November 30th total of 192,561 shares. Currently, 3.4% of the company’s shares are sold short. Based on an average daily trading volume, of 373,845 shares, the days-to-cover ratio is currently 1.2 days. Based on an average daily trading volume, of 373,845 shares, the days-to-cover ratio is currently 1.2 days. Currently, 3.4% of the company’s shares are sold short.

Dare Bioscience Stock Down 2.8%

Shares of NASDAQ DARE traded down $0.06 during midday trading on Friday, hitting $2.11. 57,957 shares of the company’s stock were exchanged, compared to its average volume of 461,736. The firm’s fifty day simple moving average is $1.95 and its 200-day simple moving average is $2.21. The company has a market cap of $30.15 million, a PE ratio of -1.13 and a beta of 0.77. Dare Bioscience has a twelve month low of $1.61 and a twelve month high of $9.19. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.18 and a quick ratio of 1.18.

Dare Bioscience (NASDAQ:DARE) last announced its quarterly earnings results on Thursday, November 13th. The biotechnology company reported ($0.28) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.33) by $0.05. The company had revenue of $0.00 million during the quarter, compared to analysts’ expectations of $0.01 million. Research analysts predict that Dare Bioscience will post -0.49 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. AMH Equity Ltd lifted its stake in shares of Dare Bioscience by 17.8% in the 2nd 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 period. Virtu Financial LLC purchased a new position in shares of Dare Bioscience during the 3rd quarter worth approximately $37,000. Finally, Raymond James Financial Inc. raised its stake 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 buying an additional 13,650 shares in the last quarter. Institutional investors and hedge funds own 6.70% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Weiss Ratings reiterated a “sell (e+)” rating on shares of Dare Bioscience in a report on Wednesday, October 8th. Maxim Group raised shares of Dare Bioscience from a “hold” rating to a “buy” rating and set a $8.00 target price for the company in a research note on Thursday, September 4th. Finally, HC Wainwright reiterated a “buy” rating and issued a $12.00 target price on shares of Dare Bioscience in a report on Tuesday, December 2nd. Two investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Dare Bioscience currently has an average rating of “Hold” and a consensus 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.