Dare Bioscience, Inc. (NASDAQ:DARE) Sees Significant Decrease in Short Interest
by Michael Walen · The Markets DailyDare Bioscience, Inc. (NASDAQ:DARE – Get Free Report) was the recipient of a significant 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 company’s shares are sold short. Based on an average trading volume of 79,738 shares, the short-interest ratio is presently 3.9 days. Based on an average trading volume of 79,738 shares, the short-interest ratio is presently 3.9 days. Approximately 2.3% of the company’s shares are sold short.
Wall Street Analysts Forecast Growth
DARE has been the topic of several research analyst reports. Weiss Ratings reissued a “sell (e+)” rating on shares of Dare Bioscience in a research note on Wednesday, January 21st. HC Wainwright reissued a “buy” rating and set a $12.00 price objective on shares of Dare Bioscience in a research report on Tuesday, December 2nd. Two investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $10.00.
Read Our Latest Stock Analysis on DARE
Dare Bioscience Stock Down 1.2%
Shares of DARE stock traded down $0.02 during mid-day trading on Tuesday, reaching $1.68. 24,121 shares of the company’s stock traded hands, compared to its average volume of 68,551. The company’s 50-day moving average price is $1.96 and its 200-day moving average price is $2.00. The company has a market cap of $24.01 million, a P/E ratio of -0.90 and a beta of 0.93. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.06. Dare Bioscience has a 12 month low of $1.61 and a 12 month high of $9.19.
Hedge Funds Weigh In On Dare Bioscience
Institutional investors and hedge funds have recently made changes to their positions in the business. Raymond James Financial Inc. increased its position in shares of Dare Bioscience by 810.6% during the third quarter. Raymond James Financial Inc. now owns 15,334 shares of the biotechnology company’s stock valued at $32,000 after acquiring an additional 13,650 shares in the last quarter. LPL Financial LLC bought a new position in Dare Bioscience in the 4th quarter valued at approximately $28,000. Virtu Financial LLC purchased a new stake in Dare Bioscience during the 3rd quarter valued at $37,000. Finally, AMH Equity Ltd increased its holdings in shares of Dare Bioscience by 17.8% in the 2nd quarter. AMH Equity Ltd now owns 193,603 shares of the biotechnology company’s stock worth $463,000 after purchasing an additional 29,301 shares in the last quarter. Institutional investors own 6.70% of the company’s stock.
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.