Dare Bioscience (NASDAQ:DARE) Stock Crosses Below 200-Day Moving Average – Here’s What Happened

Dare Bioscience, Inc. (NASDAQ:DARE) passed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $1.93 and traded as low as $1.16. Dare Bioscience shares last traded at $1.16, with a volume of 83,518 shares traded.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Weiss Ratings restated a “sell (e+)” rating on shares of Dare Bioscience in a research report on Friday, July 17th. Wall Street Zen raised Dare Bioscience to a “hold” rating in a research report on Saturday, May 23rd. Two analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $10.00.

Dare Bioscience Trading Down 2.1%

The firm’s fifty day moving average price is $1.97 and its 200 day moving average price is $1.93. The firm has a market capitalization of $17.49 million, a PE ratio of -1.22 and a beta of 1.03.

Dare Bioscience (NASDAQ:DARE) last posted its quarterly earnings results on Thursday, May 14th. The biotechnology company reported ($0.20) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.33) by $0.13. The company had revenue of $0.15 million during the quarter, compared to analyst estimates of $0.03 million. As a group, research analysts expect that Dare Bioscience, Inc. will post -0.97 EPS for the current year.

Institutional Investors Weigh In On Dare Bioscience

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Virtu Financial LLC bought a new stake in shares of Dare Bioscience in the 3rd quarter valued at approximately $37,000. Raymond James Financial Inc. raised its position in 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. Finally, LPL Financial LLC acquired a new stake in Dare Bioscience in the fourth quarter valued at approximately $28,000. 6.70% of the stock is 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.