Dare Bioscience (NASDAQ:DARE) Shares Cross Below 200 Day Moving Average – Here’s What Happened

Dare Bioscience, Inc. (NASDAQ:DARE)’s share price passed below its 200-day moving average during trading on Wednesday . The stock has a 200-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 trading hands.

Analysts Set New Price Targets

DARE has been the topic of a number of research analyst reports. Wall Street Zen raised shares of Dare Bioscience to a “hold” rating in a report on Saturday, May 23rd. Weiss Ratings reiterated a “sell (e+)” rating on shares of Dare Bioscience in a research note on Friday, July 17th. Two equities research 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, Dare Bioscience has a consensus rating of “Hold” and an average target price of $10.00.

Dare Bioscience Trading Down 1.6%

The business has a 50 day moving average of $1.94 and a 200-day moving average of $1.93. The stock has a market cap of $18.40 million, a PE ratio of -1.28 and a beta of 1.03.

Dare Bioscience (NASDAQ:DARE) last released its quarterly earnings results on Thursday, May 14th. The biotechnology company reported ($0.20) EPS for the quarter, topping the consensus estimate of ($0.33) by $0.13. The firm had revenue of $0.15 million for the quarter, compared to analyst estimates of $0.03 million. Research analysts expect that Dare Bioscience, Inc. will post -0.97 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Virtu Financial LLC purchased a new stake in shares of Dare Bioscience in the third quarter valued at about $37,000. Raymond James Financial Inc. increased its position in Dare Bioscience by 810.6% in the 3rd 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 during the period. Finally, LPL Financial LLC purchased a new stake in Dare Bioscience during the 4th quarter valued at approximately $28,000. 6.70% of the stock is currently owned by institutional investors and hedge funds.

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.