Regencell Bioscience (NASDAQ:RGC) Stock Price Down 7.2% – Time to Sell?

Regencell Bioscience Holdings Limited (NASDAQ:RGC) shares were down 7.2% on Wednesday . The company traded as low as $5.69 and last traded at $5.6260. 63,258 shares traded hands during mid-day trading, a decline of 81% from the average session volume of 324,480 shares. The stock had previously closed at $6.06.

Analysts Set New Price Targets

Several brokerages have recently weighed in on RGC. Wall Street Zen cut Regencell Bioscience from a “hold” rating to a “sell” rating in a report on Saturday. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Regencell Bioscience in a report on Wednesday, June 24th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company currently has an average rating of “Sell”.

Regencell Bioscience Trading Down 4.8%

The firm’s 50-day moving average price is $15.40 and its two-hundred day moving average price is $23.90.

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

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in RGC. Seven Fleet Capital Management LP acquired a new stake in shares of Regencell Bioscience during the 4th quarter worth about $92,000. Amundi purchased a new stake in Regencell Bioscience in the 1st quarter valued at about $219,000. Vident Advisory LLC lifted its position in Regencell Bioscience by 65.7% in the fourth quarter. Vident Advisory LLC now owns 29,934 shares of the company’s stock valued at $629,000 after buying an additional 11,866 shares during the last quarter. Hudson Bay Capital Management LP purchased a new position in Regencell Bioscience during the fourth quarter worth about $275,000. Finally, Bank of America Corp DE increased 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 valued at $437,000 after acquiring an additional 17,143 shares during the last quarter. 0.13% of the stock is currently owned by institutional investors and hedge funds.

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.