Regencell Bioscience (NASDAQ:RGC) Shares Gap Up – What’s Next?

Regencell Bioscience Holdings Limited (NASDAQ:RGC) gapped up before the market opened on Tuesday . The stock had previously closed at $22.09, but opened at $22.89. Regencell Bioscience shares last traded at $22.99, with a volume of 34,630 shares changing hands.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Regencell Bioscience in a research report on Monday. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock has an average rating of “Sell”.

Regencell Bioscience Stock Performance

The stock’s 50-day moving average is $15.36.

Institutional Investors Weigh In On Regencell Bioscience

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Squarepoint Ops LLC purchased a new stake in shares of Regencell Bioscience during the second quarter worth about $1,701,000. Geode Capital Management LLC boosted its stake in Regencell Bioscience by 5,637.5% in the 2nd quarter. Geode Capital Management LLC now owns 391,066 shares of the company’s stock worth $6,664,000 after purchasing an additional 384,250 shares in the last quarter. Greenfield Savings Bank acquired a new stake in Regencell Bioscience in the 2nd quarter worth approximately $187,000. Y Intercept Hong Kong Ltd purchased a new stake in Regencell Bioscience during the 2nd quarter worth approximately $222,000. Finally, XTX Topco Ltd acquired a new position in Regencell Bioscience during the 3rd quarter valued at approximately $598,000. 0.13% of the stock is currently owned by hedge funds and other institutional investors.

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.