Dare Bioscience (NASDAQ:DARE) Share Price Passes Above 50-Day Moving Average – What’s Next?

Dare Bioscience, Inc. (NASDAQ:DARE) shares crossed above its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of $1.93 and traded as high as $2.73. Dare Bioscience shares last traded at $2.63, with a volume of 606,777 shares changing hands.

Analyst Ratings Changes

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Dare Bioscience in a research note on Monday, April 20th. Two 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, the stock has an average rating of “Hold” and an average price target of $10.00.

Dare Bioscience Trading Up 4.4%

The company has a market capitalization of $38.29 million, a PE ratio of -2.10 and a beta of 1.09. The business’s 50-day simple moving average is $1.93 and its 200-day simple moving average is $1.91.

Dare Bioscience (NASDAQ:DARE) last released its quarterly earnings data 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 during the quarter, compared to analysts’ expectations of $0.75 million. Sell-side analysts forecast that Dare Bioscience, Inc. will post -1.5 EPS for the current fiscal year.

Institutional Investors Weigh In On Dare Bioscience

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. LPL Financial LLC purchased a new position in shares of Dare Bioscience during the 4th quarter valued at about $28,000. Raymond James Financial Inc. grew its holdings 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 worth $32,000 after acquiring an additional 13,650 shares during the period. Virtu Financial LLC acquired a new stake in Dare Bioscience during the third quarter worth about $37,000. Finally, AMH Equity Ltd raised 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 acquiring an additional 38,770 shares in the last quarter. 6.70% of the stock is owned by institutional investors and hedge funds.

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.