Regencell Bioscience (NASDAQ:RGC) Shares Gap Down – Here’s What Happened

Regencell Bioscience Holdings Limited (NASDAQ:RGC) shares gapped down prior to trading on Monday . The stock had previously closed at $31.41, but opened at $28.99. Regencell Bioscience shares last traded at $28.44, with a volume of 80,433 shares traded.

Wall Street Analysts Forecast Growth

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

Regencell Bioscience Stock Performance

The stock’s fifty day simple moving average is $22.99 and its 200-day simple moving average is $17.58.

Hedge Funds Weigh In On Regencell Bioscience

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