Regencell Bioscience (NASDAQ:RGC) Shares Down 10.8% – Here’s Why

Regencell Bioscience Holdings Limited (NASDAQ:RGC)’s stock price fell 10.8% during mid-day trading on Wednesday . The stock traded as low as $6.50 and last traded at $6.0860. 61,569 shares were traded during trading, a decline of 79% from the average daily volume of 299,905 shares. The stock had previously closed at $6.82.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on RGC. Wall Street Zen lowered Regencell Bioscience from a “hold” rating to a “sell” rating in a research note on Saturday, July 18th. Weiss Ratings restated a “sell (e+)” rating on shares of Regencell Bioscience in a report on Wednesday, June 24th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Sell”.

Regencell Bioscience Stock Down 13.9%

The firm has a 50 day moving average of $5.77 and a 200-day moving average of $17.81.

Institutional Trading of Regencell Bioscience

Several institutional investors and hedge funds have recently made changes to their positions in the company. Squarepoint Ops LLC bought a new stake in shares of Regencell Bioscience in the 2nd quarter valued at about $1,701,000. BNP Paribas Financial Markets bought a new position in shares of Regencell Bioscience in the 2nd quarter worth $768,000. XTX Topco Ltd bought a new position in shares of Regencell Bioscience in the 3rd quarter worth $598,000. Hudson Bay Capital Management LP purchased a new stake in shares of Regencell Bioscience during the 4th quarter worth $275,000. Finally, Vident Advisory LLC grew its stake in Regencell Bioscience by 65.7% in the fourth quarter. Vident Advisory LLC now owns 29,934 shares of the company’s stock valued at $629,000 after purchasing an additional 11,866 shares during the last quarter. 0.13% of the stock is currently owned by 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.