Short Interest in Dare Bioscience, Inc. (NASDAQ:DARE) Expands By 142.1%

Dare Bioscience, Inc. (NASDAQ:DARE) saw a significant increase in short interest in the month of December. As of December 15th, there was short interest totaling 466,123 shares, an increase of 142.1% from the November 30th total of 192,561 shares. Based on an average trading volume of 373,845 shares, the days-to-cover ratio is presently 1.2 days. Approximately 3.4% of the company’s stock are sold short. Approximately 3.4% of the company’s stock are sold short. Based on an average trading volume of 373,845 shares, the days-to-cover ratio is presently 1.2 days.

Hedge Funds Weigh In On Dare Bioscience

A number of hedge funds have recently bought and sold shares of DARE. 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 worth $32,000 after purchasing an additional 13,650 shares in the last quarter. Virtu Financial LLC purchased a new stake in Dare Bioscience during the 3rd quarter valued at about $37,000. Finally, AMH Equity Ltd raised its holdings in Dare Bioscience by 20.0% in the 3rd quarter. AMH Equity Ltd now owns 232,373 shares of the biotechnology company’s stock valued at $488,000 after acquiring an additional 38,770 shares during the last quarter. Hedge funds and other institutional investors own 6.70% of the company’s stock.

Dare Bioscience Stock Performance

NASDAQ:DARE traded down $0.06 during trading hours on Friday, hitting $2.11. 57,957 shares of the company were exchanged, compared to its average volume of 461,736. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.18 and a quick ratio of 1.18. The company’s 50 day moving average price is $1.95 and its 200-day moving average price is $2.21. Dare Bioscience has a 52-week low of $1.61 and a 52-week high of $9.19. The stock has a market capitalization of $30.15 million, a price-to-earnings ratio of -1.13 and a beta of 0.77.

Dare Bioscience (NASDAQ:DARE) last issued its earnings results on Thursday, November 13th. The biotechnology company reported ($0.28) EPS for the quarter, beating analysts’ consensus estimates of ($0.33) by $0.05. The firm had revenue of $0.00 million during the quarter, compared to analysts’ expectations of $0.01 million. As a group, research analysts forecast that Dare Bioscience will post -0.49 earnings per share for the current year.

Analyst Ratings Changes

Several research firms have recently commented on DARE. HC Wainwright restated a “buy” rating and issued a $12.00 price target on shares of Dare Bioscience in a report on Tuesday, December 2nd. Maxim Group raised shares of Dare Bioscience from a “hold” rating to a “buy” rating and set a $8.00 price objective for the company in a research note on Thursday, September 4th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Dare Bioscience in a report on Wednesday, October 8th. Two analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Dare Bioscience presently has a consensus rating of “Hold” and an average target price 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.