Regencell Bioscience (NASDAQ:RGC) Shares Up 7% – Should You Buy?

Regencell Bioscience Holdings Limited (NASDAQ:RGC)’s share price shot up 7% during mid-day trading on Tuesday. The stock traded as high as $7.90 and last traded at $7.75. 186,897 shares traded hands during trading, a decline of 34% from the average session volume of 284,048 shares. The stock had previously closed at $7.24.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on RGC shares. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Regencell Bioscience in a research report on Monday, September 21st. Wall Street Zen downgraded shares of Regencell Bioscience from a “hold” rating to a “sell” rating in a research report on Saturday, July 18th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock presently has an average rating of “Sell”.

Regencell Bioscience Price Performance

The firm has a 50-day moving average price of $5.92 and a two-hundred day moving average price of $14.93.

Regencell Bioscience (NASDAQ:RGC) last issued its quarterly earnings results on Wednesday, October 7th. The company reported ($0.01) earnings per share for the quarter.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Bank of America Corp DE raised its position in Regencell Bioscience by 59,113.8% in the 1st quarter. Bank of America Corp DE now owns 17,172 shares of the company’s stock worth $437,000 after purchasing an additional 17,143 shares during the last quarter. Amundi acquired a new position in Regencell Bioscience during the first quarter worth $219,000. Finally, Seven Fleet Capital Management LP bought a new stake in shares of Regencell Bioscience in the 4th quarter valued at about $92,000. Institutional investors and hedge funds own 0.13% of the company’s stock.

Regencell Bioscience Company Profile

Regencell Bioscience Holdings Limited is a clinical-stage biotechnology company focused on developing traditional Chinese medicine (TCM) treatments for neurocognitive disorders and degenerative conditions. Its research has centered primarily on conditions such as dementia and attention-deficit/hyperactivity disorder (ADHD), with the goal of developing herbal formulations that may address underlying symptoms and disease-related challenges.

The company’s product development programs include proprietary TCM formulations intended for neurological and cognitive conditions.