Dare Bioscience (NASDAQ:DARE) Stock Crosses Below Two Hundred Day Moving Average – Time to Sell?

Shares of Dare Bioscience, Inc. (NASDAQ:DARE) crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $1.93 and traded as low as $1.16. Dare Bioscience shares last traded at $1.16, with a volume of 83,518 shares changing hands.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on DARE shares. Wall Street Zen raised shares of Dare Bioscience to a “hold” rating in a research report on Saturday, May 23rd. Weiss Ratings reissued a “sell (e+)” rating on shares of Dare Bioscience in a report on Friday, July 17th. Two research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $10.00.

Dare Bioscience Trading Down 2.1%

The stock has a fifty day simple moving average of $1.97 and a 200-day simple moving average of $1.93. The stock has a market cap of $17.49 million, a price-to-earnings ratio of -1.22 and a beta of 1.03.

Dare Bioscience (NASDAQ:DARE) last issued its quarterly earnings results on Thursday, May 14th. The biotechnology company reported ($0.20) EPS for the quarter, topping analysts’ consensus estimates of ($0.33) by $0.13. The business had revenue of $0.15 million for the quarter, compared to analyst estimates of $0.03 million. Sell-side analysts forecast that Dare Bioscience, Inc. will post -0.97 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. LPL Financial LLC acquired a new position in shares of Dare Bioscience during the fourth quarter valued at about $28,000. Raymond James Financial Inc. increased its stake 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 acquiring an additional 13,650 shares during the period. Finally, Virtu Financial LLC acquired a new position in Dare Bioscience in the 3rd quarter valued at approximately $37,000. Institutional investors own 6.70% of the company’s stock.

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.