Dare Bioscience, Inc. (NASDAQ:DARE) Short Interest Down 19.5% in April

Dare Bioscience, Inc. (NASDAQ:DARE) saw a significant drop in short interest in April. As of April 15th, there was short interest totaling 170,167 shares, a drop of 19.5% from the March 31st total of 211,491 shares. Based on an average daily trading volume, of 66,992 shares, the short-interest ratio is presently 2.5 days. Approximately 1.2% of the shares of the stock are short sold.

Institutional Trading of Dare Bioscience

Several large investors have recently modified their holdings of DARE. AMH Equity Ltd grew its position in shares of Dare Bioscience by 20.0% in 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. Virtu Financial LLC acquired a new stake in shares of Dare Bioscience in the third quarter valued at approximately $37,000. LPL Financial LLC acquired a new stake in shares of Dare Bioscience in the fourth quarter valued at approximately $28,000. Finally, Raymond James Financial Inc. grew its position 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 purchasing an additional 13,650 shares during the last quarter. 6.70% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed 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 assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Dare Bioscience currently has a consensus rating of “Hold” and an average target price of $10.00.

Dare Bioscience Price Performance

Dare Bioscience stock traded up $0.06 during mid-day trading on Friday, reaching $2.34. The company had a trading volume of 351,417 shares, compared to its average volume of 914,422. Dare Bioscience has a 1 year low of $1.27 and a 1 year high of $9.19. The company has a market capitalization of $34.07 million, a P/E ratio of -1.87 and a beta of 0.90. The stock’s 50-day simple moving average is $1.78 and its 200-day simple moving average is $1.88.

Dare Bioscience (NASDAQ:DARE) last issued its earnings results on Thursday, March 26th. The biotechnology company reported ($0.02) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.44) by $0.42. The company had revenue of $1.02 million during the quarter, compared to analysts’ expectations of $0.75 million. On average, equities analysts forecast that Dare Bioscience will post -1.5 EPS for the current fiscal 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.