Regencell Bioscience (NASDAQ:RGC) Trading Down 7.2% – Here’s Why

Regencell Bioscience Holdings Limited (NASDAQ:RGC)’s share price traded down 7.2% on Wednesday . The stock traded as low as $5.69 and last traded at $5.6260. 63,258 shares traded hands during trading, a decline of 81% from the average daily volume of 324,480 shares. The stock had previously closed at $6.06.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on RGC shares. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Regencell Bioscience in a report on Wednesday, June 24th. Wall Street Zen lowered Regencell Bioscience from a “hold” rating to a “sell” rating in a research note on Saturday, July 18th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Regencell Bioscience presently has a consensus rating of “Sell”.

Regencell Bioscience Stock Performance

The firm’s 50-day moving average price is $14.55 and its 200 day moving average price is $23.69.

Regencell Bioscience (NASDAQ:RGC) last issued its earnings results on Friday, May 8th. The company reported ($0.00) EPS for the quarter.

Institutional Investors Weigh In On Regencell Bioscience

A number of hedge funds have recently modified their holdings of the business. BNP Paribas Financial Markets acquired a new position in Regencell Bioscience in the 2nd quarter worth $768,000. Squarepoint Ops LLC acquired a new stake in shares of Regencell Bioscience in the 2nd quarter valued at about $1,701,000. Bank of America Corp DE lifted its holdings in shares of Regencell Bioscience by 59,113.8% in 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 in the last quarter. Vident Advisory LLC lifted its holdings in shares of Regencell Bioscience by 65.7% in the fourth quarter. Vident Advisory LLC now owns 29,934 shares of the company’s stock valued at $629,000 after purchasing an additional 11,866 shares in the last quarter. Finally, Hudson Bay Capital Management LP acquired a new position in shares of Regencell Bioscience during the fourth quarter worth about $275,000. Institutional investors and hedge funds own 0.13% of the company’s stock.

About Regencell Bioscience

Regencell Bioscience Holdings Limited operates a Traditional Chinese medicine (TCM) bioscience company. It focuses on the research, development, and commercialization of TCM for the treatment of neurocognitive disorders and degeneration, primarily attention deficit hyperactivity disorder and autism spectrum disorder. The company was incorporated in 2014 and is headquartered in Causeway Bay, Hong Kong.