Regencell Bioscience (NASDAQ:RGC) Shares Down 13.1% – Here’s Why

Regencell Bioscience Holdings Limited (NASDAQ:RGC)’s stock price fell 13.1% during trading on Tuesday . The company traded as low as $22.60 and last traded at $22.69. 74,855 shares changed hands during mid-day trading, a decline of 86% from the average session volume of 545,185 shares. The stock had previously closed at $26.10.

Wall Street Analyst Weigh In

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

Regencell Bioscience Trading Up 6.1%

The business’s fifty day simple moving average is $29.00 and its two-hundred day simple moving average is $20.02.

Hedge Funds Weigh In On Regencell Bioscience

Large investors have recently bought and sold shares of the stock. Squarepoint Ops LLC acquired a new stake in shares of Regencell Bioscience during the second quarter worth about $1,701,000. Geode Capital Management LLC grew its stake in Regencell Bioscience by 5,637.5% during the 2nd quarter. Geode Capital Management LLC now owns 391,066 shares of the company’s stock worth $6,664,000 after buying an additional 384,250 shares during the last quarter. Y Intercept Hong Kong Ltd acquired a new position in Regencell Bioscience during the second quarter worth approximately $222,000. BNP Paribas Financial Markets purchased a new stake in Regencell Bioscience in the second quarter valued at approximately $768,000. Finally, XTX Topco Ltd acquired a new stake in shares of Regencell Bioscience in the third quarter valued at approximately $598,000. Institutional investors and hedge funds own 0.13% of the company’s stock.

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.