Dare Bioscience, Inc. (NASDAQ:DARE) Sees Significant Drop in Short Interest

Dare Bioscience, Inc. (NASDAQ:DARE) was the target of a large decrease in short interest during the month of January. As of January 30th, there was short interest totaling 310,398 shares, a decrease of 14.1% from the January 15th total of 361,373 shares. Approximately 2.3% of the shares of the stock are sold short. Based on an average trading volume of 79,738 shares, the days-to-cover ratio is presently 3.9 days. Based on an average trading volume of 79,738 shares, the days-to-cover ratio is presently 3.9 days. Approximately 2.3% of the shares of the stock are sold short.

Hedge Funds Weigh In On Dare Bioscience

A number of large investors have recently bought and sold shares of DARE. LPL Financial LLC purchased a new stake in shares of Dare Bioscience during the fourth quarter valued at approximately $28,000. Raymond James Financial Inc. raised its holdings in Dare Bioscience by 810.6% during the 3rd quarter. Raymond James Financial Inc. now owns 15,334 shares of the biotechnology company’s stock valued at $32,000 after buying an additional 13,650 shares during the last quarter. Virtu Financial LLC bought a new stake in Dare Bioscience during the 3rd quarter valued at $37,000. Finally, AMH Equity Ltd boosted its position in Dare Bioscience by 17.8% during the 2nd quarter. AMH Equity Ltd now owns 193,603 shares of the biotechnology company’s stock valued at $463,000 after buying an additional 29,301 shares during the period. 6.70% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have issued reports on DARE shares. Weiss Ratings reiterated a “sell (e+)” rating on shares of Dare Bioscience in a research report on Wednesday, January 21st. HC Wainwright reaffirmed a “buy” rating and set a $12.00 price objective on shares of Dare Bioscience in a report on Tuesday, December 2nd. Two analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Dare Bioscience presently has an average rating of “Hold” and a consensus target price of $10.00.

Dare Bioscience Trading Down 1.2%

Dare Bioscience stock traded down $0.02 during mid-day trading on Tuesday, hitting $1.68. The company’s stock had a trading volume of 24,121 shares, compared to its average volume of 68,551. The business has a 50 day moving average price of $1.96 and a 200-day moving average price of $2.00. 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 has a 12 month low of $1.61 and a 12 month high of $9.19. The stock has a market cap of $24.01 million, a price-to-earnings ratio of -0.90 and a beta of 0.93.

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.