Dare Bioscience (NASDAQ:DARE) Share Price Passes Above Fifty Day Moving Average – Here’s What Happened

Dare Bioscience, Inc. (NASDAQ:DARE) crossed above its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of $1.65 and traded as high as $2.78. Dare Bioscience shares last traded at $2.72, with a volume of 3,140,361 shares trading hands.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Dare Bioscience in a research note on Wednesday, January 21st. Two analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $10.00.

Dare Bioscience Stock Performance

The company has a market cap of $42.95 million, a P/E ratio of -2.36 and a beta of 0.90. The business’s 50-day moving average price is $1.68 and its 200 day moving average price is $1.87.

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 firm had revenue of $1.02 million during the quarter, compared to the consensus estimate of $0.75 million. Equities research analysts forecast that Dare Bioscience, Inc. will post -0.49 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Raymond James Financial Inc. increased its holdings 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 acquiring an additional 13,650 shares during the last quarter. LPL Financial LLC bought a new position in Dare Bioscience during the fourth quarter worth $28,000. Virtu Financial LLC bought a new position in Dare Bioscience during the third quarter worth $37,000. Finally, AMH Equity Ltd increased its holdings 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. 6.70% of the stock is currently owned by institutional investors.

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.