Regencell Bioscience (NASDAQ:RGC) Trading Down 7.8% – Here’s Why

Regencell Bioscience Holdings Limited (NASDAQ:RGC)’s stock price traded down 7.8% during mid-day trading on Tuesday . The stock traded as low as $24.50 and last traded at $25.30. 103,945 shares traded hands during mid-day trading, a decline of 91% from the average session volume of 1,208,313 shares. The stock had previously closed at $27.43.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Regencell Bioscience in a research note on Monday, December 29th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Regencell Bioscience has a consensus rating of “Sell”.

Regencell Bioscience Trading Down 11.2%

The firm’s fifty day moving average is $20.81 and its 200-day moving average is $17.06.

Institutional Investors Weigh In On Regencell Bioscience

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Y Intercept Hong Kong Ltd bought a new position in Regencell Bioscience in the 2nd quarter valued at $222,000. Geode Capital Management LLC grew its holdings in shares of Regencell Bioscience by 5,637.5% during 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 acquired a new stake in shares of Regencell Bioscience in the second quarter valued at $1,701,000. BNP Paribas Financial Markets bought a new position in shares of Regencell Bioscience in the second quarter valued at about $768,000. Finally, XTX Topco Ltd acquired a new position in Regencell Bioscience during the 3rd quarter worth about $598,000. 0.13% of the stock is owned by institutional investors and hedge funds.

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.