Regencell Bioscience (NASDAQ:RGC) Shares Down 7.8% – Here’s What Happened

Regencell Bioscience Holdings Limited (NASDAQ:RGC)’s stock price fell 7.8% during mid-day trading on Monday . The company traded as low as $5.82 and last traded at $5.8750. Approximately 454,068 shares changed hands during mid-day trading, an increase of 46% from the average daily volume of 311,824 shares. The stock had previously closed at $6.37.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Regencell Bioscience in a research report on Wednesday, June 24th. One research analyst has rated the stock with a Sell rating, According to MarketBeat, the stock presently has an average rating of “Sell”.

Regencell Bioscience Stock Down 8.0%

The company has a 50-day simple moving average of $20.90 and a 200 day simple moving average of $25.25.

Regencell Bioscience (NASDAQ:RGC) last announced its earnings results on Friday, May 8th. The company reported ($0.00) earnings per share (EPS) for the quarter.

Institutional Investors Weigh In On Regencell Bioscience

Several hedge funds have recently made changes to their positions in RGC. Squarepoint Ops LLC acquired a new stake in Regencell Bioscience during the second quarter worth about $1,701,000. BNP Paribas Financial Markets bought a new stake in shares of 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. Bank of America Corp DE grew its holdings in shares of 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 worth $437,000 after purchasing an additional 17,143 shares in the last quarter. Finally, Hudson Bay Capital Management LP bought a new stake in shares of Regencell Bioscience during the fourth quarter valued at approximately $275,000. Institutional investors 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.