Dare Bioscience (NASDAQ:DARE) Stock Price Passes Below 200 Day Moving Average – Here’s Why

Dare Bioscience, Inc. (NASDAQ:DARE)’s share price passed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $1.96 and traded as low as $1.23. Dare Bioscience shares last traded at $1.25, with a volume of 418,278 shares changing hands.

Wall Street Analyst Weigh In

DARE has been the subject of a number of analyst reports. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Dare Bioscience in a report on Friday. Wall Street Zen raised shares of Dare Bioscience to a “hold” rating in a research note on Saturday, May 23rd. Two research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $10.00.

Dare Bioscience Trading Down 6.7%

The firm has a market capitalization of $18.73 million, a price-to-earnings ratio of -1.32 and a beta of 1.03. The stock has a fifty day moving average price of $2.11 and a 200-day moving average price of $1.96.

Dare Bioscience (NASDAQ:DARE) last announced its quarterly earnings results on Thursday, May 14th. The biotechnology company reported ($0.20) EPS for the quarter, beating the consensus estimate 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. On average, equities analysts expect that Dare Bioscience, Inc. will post -0.97 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in DARE. Virtu Financial LLC acquired a new stake in shares of Dare Bioscience in the 3rd quarter valued at $37,000. Raymond James Financial Inc. increased its position in shares of Dare Bioscience by 810.6% during the 3rd 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. Finally, LPL Financial LLC acquired a new stake in shares of Dare Bioscience during the 4th quarter worth about $28,000. 6.70% of the stock is owned by institutional investors.

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.