Regencell Bioscience (NASDAQ:RGC) Stock Price Down 6.8% – Here’s What Happened

Shares of Regencell Bioscience Holdings Limited (NASDAQ:RGC) fell 6.8% during mid-day trading on Monday. The stock traded as low as $7.13 and last traded at $6.8510. Approximately 23,588 shares were traded during trading, a decline of 92% from the average session volume of 281,447 shares. The stock had previously closed at $7.35.

Analyst Upgrades and Downgrades

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

Regencell Bioscience Stock Performance

The stock’s 50 day moving average is $5.98 and its 200 day moving average is $14.67.

Regencell Bioscience (NASDAQ:RGC) last released its quarterly earnings data on Wednesday, October 7th. The company reported ($0.01) EPS for the quarter.

Institutional Investors Weigh In On Regencell Bioscience

Institutional investors have recently made changes to their positions in the stock. Bank of America Corp DE lifted its position in shares of Regencell Bioscience by 59,113.8% during the first quarter. Bank of America Corp DE now owns 17,172 shares of the company’s stock worth $437,000 after acquiring an additional 17,143 shares in the last quarter. Amundi bought a new position in shares of Regencell Bioscience in the first quarter worth $219,000. Finally, Seven Fleet Capital Management LP purchased a new position in shares of Regencell Bioscience in the fourth quarter valued at $92,000. Hedge funds and other institutional investors 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.