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

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

Institutional Trading of Dare Bioscience

Hedge funds have recently added to or reduced their stakes in the company. LPL Financial LLC acquired a new stake in Dare Bioscience in the fourth quarter valued at approximately $28,000. Raymond James Financial Inc. raised its holdings in 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 acquiring an additional 13,650 shares in the last quarter. Virtu Financial LLC acquired a new stake in Dare Bioscience in the third quarter valued at approximately $37,000. Finally, AMH Equity Ltd raised its holdings in Dare Bioscience by 20.0% in the third 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 in the last quarter. Institutional investors and hedge funds own 6.70% of the company’s stock.

Analysts Set New Price Targets

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

Dare Bioscience Stock Performance

Shares of DARE traded down $0.69 during mid-day trading on Friday, hitting $2.17. 1,217,264 shares of the company’s stock were exchanged, compared to its average volume of 1,377,150. The stock’s 50-day moving average is $1.99 and its 200-day moving average is $1.92. The company has a market cap of $31.60 million, a price-to-earnings ratio of -2.28 and a beta of 1.09. Dare Bioscience has a fifty-two week low of $1.27 and a fifty-two week high of $9.19.

Dare Bioscience (NASDAQ:DARE) last issued its earnings results on Thursday, May 14th. The biotechnology company reported ($0.20) earnings per share for the quarter, beating the consensus estimate of ($0.33) by $0.13. The firm had revenue of $0.15 million during the quarter, compared to analyst estimates of $0.03 million. As a group, equities research analysts anticipate that Dare Bioscience will post -1.5 EPS for the current year.

Dare Bioscience Company Profile

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.