Regencell Bioscience (NASDAQ:RGC) Shares Down 10.8% – Should You Sell?

Regencell Bioscience Holdings Limited (NASDAQ:RGC) shares dropped 10.8% on Wednesday . The stock traded as low as $6.50 and last traded at $6.0860. 61,569 shares were traded during mid-day 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 research firms have commented on RGC. Weiss Ratings reiterated a “sell (e+)” rating on shares of Regencell Bioscience in a research note on Wednesday, June 24th. Wall Street Zen cut shares of Regencell Bioscience from a “hold” rating to a “sell” rating in a research note on Saturday, July 18th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, Regencell Bioscience currently has a consensus rating of “Sell”.

Regencell Bioscience Stock Performance

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

Institutional Investors Weigh In On Regencell Bioscience

A number of institutional investors and hedge funds have recently modified their holdings of RGC. Squarepoint Ops LLC purchased a new stake in Regencell Bioscience in the second quarter valued at approximately $1,701,000. BNP Paribas Financial Markets purchased a new position in Regencell Bioscience during the 2nd quarter worth approximately $768,000. XTX Topco Ltd acquired a new stake in Regencell Bioscience during the 3rd quarter valued at approximately $598,000. Bank of America Corp DE lifted its stake in Regencell Bioscience by 59,113.8% during the 1st quarter. Bank of America Corp DE now owns 17,172 shares of the company’s stock valued at $437,000 after acquiring an additional 17,143 shares during the period. Finally, Hudson Bay Capital Management LP purchased a new stake in shares of Regencell Bioscience in the 4th quarter valued at $275,000. Institutional investors and hedge funds own 0.13% of the company’s stock.

Regencell Bioscience Company Profile

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.