Regencell Bioscience (NASDAQ:RGC) Stock Price Down 7.4% – Here’s What Happened

Regencell Bioscience Holdings Limited (NASDAQ:RGC) traded down 7.4% during trading on Wednesday . The stock traded as low as $29.20 and last traded at $29.67. 173,272 shares were traded during mid-day trading, a decline of 83% from the average session volume of 1,041,596 shares. The stock had previously closed at $32.05.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Regencell Bioscience in a research report on Monday, December 29th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock currently has an average rating of “Sell”.

Regencell Bioscience Price Performance

The stock’s 50-day moving average price is $22.61 and its 200 day moving average price is $17.48.

Hedge Funds Weigh In On Regencell Bioscience

A number of institutional investors have recently made changes to their positions in the business. Y Intercept Hong Kong Ltd acquired a new stake in Regencell Bioscience in the 2nd quarter valued at approximately $222,000. Geode Capital Management LLC grew its stake in shares of 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 acquiring an additional 384,250 shares during the last quarter. Squarepoint Ops LLC bought a new stake in Regencell Bioscience in the 2nd quarter valued at $1,701,000. BNP Paribas Financial Markets acquired a new stake in Regencell Bioscience in the 2nd quarter worth $768,000. Finally, XTX Topco Ltd bought a new position in shares of Regencell Bioscience during the 3rd quarter worth about $598,000. 0.13% of the stock is currently owned by 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.