Regencell Bioscience (NASDAQ:RGC) Shares Gap Down – What’s Next?

Regencell Bioscience Holdings Limited (NASDAQ:RGC)’s stock price gapped down before the market opened on Thursday . The stock had previously closed at $35.17, but opened at $33.87. Regencell Bioscience shares last traded at $33.56, with a volume of 41,706 shares traded.

Wall Street Analysts Forecast Growth

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

Regencell Bioscience Stock Down 11.9%

The business has a 50-day moving average of $19.91 and a 200-day moving average of $16.80.

Institutional Investors Weigh In On Regencell Bioscience

A number of hedge funds and other institutional investors have recently modified their holdings of RGC. Geode Capital Management LLC grew its holdings in Regencell Bioscience by 5,637.5% in the 2nd 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 purchased a new position in Regencell Bioscience during the 2nd quarter valued at about $1,701,000. BNP Paribas Financial Markets purchased a new stake in Regencell Bioscience in the 2nd quarter worth approximately $768,000. XTX Topco Ltd bought a new stake in shares of Regencell Bioscience in the 3rd quarter worth approximately $598,000. Finally, Y Intercept Hong Kong Ltd purchased a new position in shares of Regencell Bioscience during the second quarter valued at approximately $222,000. Institutional investors 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.