Dare Bioscience (NASDAQ:DARE) Shares Pass Above Fifty Day Moving Average – Here’s Why

Dare Bioscience, Inc. (NASDAQ:DARE)’s share price passed above its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of $1.65 and traded as high as $2.78. Dare Bioscience shares last traded at $2.72, with a volume of 3,140,361 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Dare Bioscience in a research report on Wednesday, January 21st. Two analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $10.00.

Dare Bioscience Trading Up 52.0%

The stock has a 50-day simple moving average of $1.65 and a 200 day simple moving average of $1.86. The company has a market cap of $39.60 million, a price-to-earnings ratio of -2.18 and a beta of 0.90.

Dare Bioscience (NASDAQ:DARE) last announced its quarterly earnings data on Thursday, March 26th. The biotechnology company reported ($0.02) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.44) by $0.42. The firm had revenue of $1.02 million during the quarter, compared to analysts’ expectations of $0.75 million. As a group, research analysts forecast that Dare Bioscience, Inc. will post -0.49 EPS for the current fiscal year.

Hedge Funds Weigh In On Dare Bioscience

Several institutional investors have recently made changes to their positions in the company. AMH Equity Ltd grew its position in Dare Bioscience by 20.0% during the third quarter. AMH Equity Ltd now owns 232,373 shares of the biotechnology company’s stock valued at $488,000 after buying an additional 38,770 shares during the period. Virtu Financial LLC acquired a new stake in Dare Bioscience during the 3rd quarter worth $37,000. LPL Financial LLC acquired a new stake in Dare Bioscience during the 4th quarter worth $28,000. Finally, Raymond James Financial Inc. lifted its stake in shares of Dare Bioscience by 810.6% in the third quarter. Raymond James Financial Inc. now owns 15,334 shares of the biotechnology company’s stock worth $32,000 after buying an additional 13,650 shares in the last quarter. 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.