Dare Bioscience, Inc. (NASDAQ:DARE) Sees Significant Decline in Short Interest

Dare Bioscience, Inc. (NASDAQ:DARE) was the target of a significant drop in short interest in the month of January. As of January 30th, there was short interest totaling 310,398 shares, a drop of 14.1% from the January 15th total of 361,373 shares. Currently, 2.3% of the company’s stock are sold short. Based on an average daily trading volume, of 79,738 shares, the days-to-cover ratio is currently 3.9 days. Based on an average daily trading volume, of 79,738 shares, the days-to-cover ratio is currently 3.9 days. Currently, 2.3% of the company’s stock are sold short.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. HC Wainwright reissued a “buy” rating and set a $12.00 price target on shares of Dare Bioscience in a research report on Tuesday, December 2nd. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Dare Bioscience in a research note on Wednesday, January 21st. Two research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $10.00.

Dare Bioscience Trading Down 1.8%

Shares of NASDAQ DARE opened at $1.67 on Wednesday. The firm’s 50 day moving average price is $1.96 and its 200-day moving average price is $1.99. Dare Bioscience has a 52-week low of $1.61 and a 52-week high of $9.19. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.18 and a current ratio of 1.18. The company has a market cap of $23.86 million, a PE ratio of -0.89 and a beta of 0.93.

Institutional Investors Weigh In On Dare Bioscience

Several large investors have recently bought and sold shares of DARE. AMH Equity Ltd lifted its stake in Dare Bioscience by 17.8% during the 2nd quarter. AMH Equity Ltd now owns 193,603 shares of the biotechnology company’s stock valued at $463,000 after acquiring an additional 29,301 shares during the period. Virtu Financial LLC purchased a new position in shares of Dare Bioscience during the third quarter valued at approximately $37,000. Raymond James Financial Inc. raised its holdings 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 purchasing an additional 13,650 shares during the last quarter. Finally, LPL Financial LLC bought a new position in Dare Bioscience during the fourth quarter valued at approximately $28,000. 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.