Regencell Bioscience (NASDAQ:RGC) Trading Down 5.1% – Here’s Why

Regencell Bioscience Holdings Limited (NASDAQ:RGC)’s share price traded down 5.1% during trading on Wednesday . The company traded as low as $16.18 and last traded at $15.8750. Approximately 17,632 shares changed hands during mid-day trading, a decline of 94% from the average daily volume of 276,591 shares. The stock had previously closed at $16.73.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Regencell Bioscience in a research note on Friday, March 27th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company presently has a consensus rating of “Sell”.

Regencell Bioscience Stock Down 19.0%

The stock’s fifty day simple moving average is $25.57 and its 200-day simple moving average is $25.82.

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

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Seven Fleet Capital Management LP acquired a new stake in shares of Regencell Bioscience during the fourth quarter worth about $92,000. Amundi acquired a new position in Regencell Bioscience in the 1st quarter worth approximately $219,000. Hudson Bay Capital Management LP acquired a new position in Regencell Bioscience in the 4th quarter worth approximately $275,000. Bank of America Corp DE raised its position in Regencell Bioscience by 59,113.8% during the 1st quarter. Bank of America Corp DE now owns 17,172 shares of the company’s stock worth $437,000 after buying an additional 17,143 shares during the last quarter. Finally, Vident Advisory LLC raised its position in Regencell Bioscience by 65.7% during the 4th quarter. Vident Advisory LLC now owns 29,934 shares of the company’s stock worth $629,000 after buying an additional 11,866 shares during the last quarter. 0.13% of the stock is owned by institutional investors and hedge funds.

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.