Regencell Bioscience (NASDAQ:RGC) Stock Price Down 8.9% – What’s Next?

Regencell Bioscience Holdings Limited (NASDAQ:RGC)’s stock price dropped 8.9% on Tuesday . The company traded as low as $27.13 and last traded at $28.10. Approximately 69,823 shares changed hands during mid-day trading, a decline of 83% from the average daily volume of 409,729 shares. The stock had previously closed at $30.83.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Regencell Bioscience in a research note on Friday, March 27th. One analyst has rated the stock with a Sell rating, According to MarketBeat, the company presently has a consensus rating of “Sell”.

Regencell Bioscience Stock Up 3.7%

The stock has a 50 day moving average price of $26.96 and a two-hundred day moving average price of $22.18.

Institutional Trading of Regencell Bioscience

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Squarepoint Ops LLC acquired a new stake in Regencell Bioscience in the second quarter worth about $1,701,000. Vident Advisory LLC increased 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 worth $629,000 after purchasing an additional 11,866 shares during the period. Hudson Bay Capital Management LP acquired a new stake in Regencell Bioscience in the fourth quarter worth about $275,000. XTX Topco Ltd acquired a new stake in Regencell Bioscience in the third quarter worth about $598,000. Finally, BNP Paribas Financial Markets acquired a new stake in Regencell Bioscience in the second quarter worth about $768,000. 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.