Short Interest in Dare Bioscience, Inc. (NASDAQ:DARE) Decreases By 32.4%
by Scott Moore · The Cerbat GemDare Bioscience, Inc. (NASDAQ:DARE – Get Free Report) saw a significant drop in short interest in the month of December. As of December 31st, there was short interest totaling 314,953 shares, a drop of 32.4% from the December 15th total of 466,123 shares. Approximately 2.3% of the shares of the company are short sold. Based on an average daily trading volume, of 202,947 shares, the days-to-cover ratio is currently 1.6 days. Based on an average daily trading volume, of 202,947 shares, the days-to-cover ratio is currently 1.6 days. Approximately 2.3% of the shares of the company are short sold.
Dare Bioscience Trading Down 1.0%
Shares of DARE stock traded down $0.02 during trading hours on Friday, hitting $1.93. The company had a trading volume of 58,512 shares, compared to its average volume of 96,940. The stock has a market capitalization of $27.58 million, a PE ratio of -1.03 and a beta of 0.78. 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 fifty-two week low of $1.61 and a fifty-two week high of $9.19. The company’s fifty day moving average is $1.95 and its 200 day moving average is $2.11.
Dare Bioscience (NASDAQ:DARE – Get Free Report) last issued its quarterly earnings results on Thursday, November 13th. The biotechnology company reported ($0.28) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.33) by $0.05. The business had revenue of $0.00 million for the quarter, compared to analysts’ expectations of $0.01 million. Research analysts expect that Dare Bioscience will post -0.49 earnings per share for the current fiscal year.
Wall Street Analysts Forecast Growth
A number of research analysts have weighed in on the stock. Weiss Ratings reiterated a “sell (e+)” rating on shares of Dare Bioscience in a research report on Wednesday, October 8th. HC Wainwright reaffirmed a “buy” rating and issued a $12.00 price target on shares of Dare Bioscience in a report on Tuesday, December 2nd. Two investment 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, Dare Bioscience has a consensus rating of “Hold” and a consensus price target of $10.00.
Check Out Our Latest Analysis on DARE
Hedge Funds Weigh In On Dare Bioscience
Several hedge funds have recently added to or reduced their stakes in DARE. Raymond James Financial Inc. raised its position in Dare Bioscience by 810.6% in the 3rd 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. Virtu Financial LLC purchased a new stake in shares of Dare Bioscience in the third quarter valued at about $37,000. Finally, AMH Equity Ltd boosted its stake in shares of Dare Bioscience by 17.8% during the second quarter. AMH Equity Ltd now owns 193,603 shares of the biotechnology company’s stock worth $463,000 after buying an additional 29,301 shares during the period. 6.70% of the stock is currently owned by hedge funds and other 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.