Regencell Bioscience (NASDAQ:RGC) Shares Climb 6.6% – Still a Buy?

Regencell Bioscience Holdings Limited (NASDAQ:RGC)’s stock price rose 6.6% during mid-day trading on Tuesday. The company traded as high as $7.57 and last traded at $7.6040. 18,438 shares traded hands during trading, a decline of 93% from the average session volume of 280,606 shares. The stock had previously closed at $7.13.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. Wall Street Zen downgraded Regencell Bioscience from a “hold” rating to a “sell” rating in a report on Saturday, July 18th. Weiss Ratings restated a “sell (e+)” rating on shares of Regencell Bioscience in a report on Monday, September 21st. One equities research analyst has rated the stock with a Sell rating. According to MarketBeat.com, Regencell Bioscience has a consensus rating of “Sell”.

Regencell Bioscience Stock Performance

The firm has a 50 day simple moving average of $6.00 and a 200 day simple moving average of $14.55.

Regencell Bioscience (NASDAQ:RGC) last posted its quarterly earnings results on Wednesday, October 7th. The company reported ($0.01) earnings per share for the quarter.

Hedge Funds Weigh In On Regencell Bioscience

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Seven Fleet Capital Management LP purchased a new stake in shares of Regencell Bioscience during the 4th quarter valued at about $92,000. Amundi bought a new stake in shares of Regencell Bioscience in the first quarter worth approximately $219,000. Finally, Bank of America Corp DE raised its holdings in shares of Regencell Bioscience by 59,113.8% during the first quarter. Bank of America Corp DE now owns 17,172 shares of the company’s stock valued at $437,000 after purchasing an additional 17,143 shares during the last quarter. Institutional investors own 0.13% of the company’s stock.

About Regencell Bioscience

Regencell Bioscience Holdings Limited is a clinical-stage biotechnology company focused on developing traditional Chinese medicine (TCM) treatments for neurocognitive disorders and degenerative conditions. Its research has centered primarily on conditions such as dementia and attention-deficit/hyperactivity disorder (ADHD), with the goal of developing herbal formulations that may address underlying symptoms and disease-related challenges.

The company’s product development programs include proprietary TCM formulations intended for neurological and cognitive conditions.