Dare Bioscience, Inc. (NASDAQ:DARE) Short Interest Up 110.4% in April

Dare Bioscience, Inc. (NASDAQ:DARE) was the target of a significant growth in short interest during the month of April. As of April 30th, there was short interest totaling 358,082 shares, a growth of 110.4% from the April 15th total of 170,167 shares. Currently, 2.6% of the shares of the stock are short sold. Based on an average daily trading volume, of 1,546,863 shares, the short-interest ratio is presently 0.2 days.

Dare Bioscience Stock Performance

Shares of NASDAQ DARE traded down $0.69 during mid-day trading on Friday, reaching $2.17. The company’s stock had a trading volume of 1,217,264 shares, compared to its average volume of 1,377,150. Dare Bioscience has a 1-year low of $1.27 and a 1-year high of $9.19. The stock has a 50-day moving average of $1.99 and a two-hundred day moving average of $1.92. The stock has a market capitalization of $31.60 million, a P/E ratio of -2.28 and a beta of 1.09.

Dare Bioscience (NASDAQ:DARE) last announced its quarterly earnings data on Thursday, May 14th. The biotechnology company reported ($0.20) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.33) by $0.13. The firm had revenue of $0.15 million during the quarter, compared to analysts’ expectations of $0.03 million. Analysts predict that Dare Bioscience will post -1.5 EPS for the current fiscal year.

Institutional Investors Weigh In On Dare Bioscience

Hedge funds have recently modified their holdings of the company. LPL Financial LLC purchased a new stake in shares of Dare Bioscience in the fourth quarter valued at about $28,000. Raymond James Financial Inc. grew its holdings in shares of Dare Bioscience by 810.6% in the third 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 period. 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 Dare Bioscience by 20.0% during the third quarter. AMH Equity Ltd now owns 232,373 shares of the biotechnology company’s stock worth $488,000 after buying an additional 38,770 shares during the period. Hedge funds and other institutional investors own 6.70% of the company’s stock.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Dare Bioscience in a research report on Monday, April 20th. Two investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Dare Bioscience presently has an average rating of “Hold” and an average price target of $10.00.

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.