Regencell Bioscience (NASDAQ:RGC) Stock Price Down 18.4% – What’s Next?

Regencell Bioscience Holdings Limited (NASDAQ:RGC)’s share price dropped 18.4% during mid-day trading on Tuesday . The company traded as low as $35.75 and last traded at $35.99. Approximately 379,673 shares changed hands during mid-day trading, a decline of 76% from the average daily volume of 1,569,285 shares. The stock had previously closed at $44.11.

Analyst Ratings Changes

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Regencell Bioscience in a research note on Monday, December 29th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, Regencell Bioscience presently has a consensus rating of “Sell”.

Regencell Bioscience Price Performance

The stock has a 50-day simple moving average of $20.25 and a two-hundred day simple moving average of $16.89.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in RGC. Geode Capital Management LLC boosted its holdings in Regencell Bioscience by 5,637.5% in the second 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 during the last quarter. Squarepoint Ops LLC bought a new position in shares of Regencell Bioscience during the 2nd quarter valued at $1,701,000. BNP Paribas Financial Markets bought a new position in shares of Regencell Bioscience during the 2nd quarter valued at $768,000. XTX Topco Ltd purchased a new position in shares of Regencell Bioscience in the 3rd quarter worth $598,000. Finally, Y Intercept Hong Kong Ltd bought a new stake in shares of Regencell Bioscience in the second quarter worth $222,000. 0.13% of the stock is owned by hedge funds and other institutional investors.

Regencell Bioscience Company Profile

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.