Regencell Bioscience (NASDAQ:RGC) Shares Gap Up – Time to Buy?

Regencell Bioscience Holdings Limited (NASDAQ:RGC) gapped up prior to trading on Friday. The stock had previously closed at $9.52, but opened at $10.31. Regencell Bioscience shares last traded at $9.8860, with a volume of 281,483 shares traded.

Analysts Set New Price Targets

RGC has been the subject of several analyst reports. Weiss Ratings restated a “sell (e+)” rating on shares of Regencell Bioscience in a report on Monday, September 21st. 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 analyst has rated the stock with a Sell rating. According to data from MarketBeat.com, the company has an average rating of “Sell”.

Regencell Bioscience Stock Down 3.4%

The firm’s fifty day moving average price is $6.17 and its 200 day moving average price is $14.20.

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

Institutional Trading of Regencell Bioscience

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Bank of America Corp DE grew its stake 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 during the period. Amundi acquired a new position in Regencell Bioscience in the first quarter valued at $219,000. Finally, Seven Fleet Capital Management LP acquired a new stake in shares of Regencell Bioscience in the fourth quarter worth $92,000. 0.13% of the stock is owned by hedge funds and other institutional investors.

About Regencell Bioscience

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.