Regencell Bioscience (NASDAQ:RGC) Shares Up 6.6% – Here’s What Happened

Regencell Bioscience Holdings Limited (NASDAQ:RGC – Get Free Report)’s stock price was up 6.6% on Tuesday. The stock traded as high as $7.57 and last traded at $7.6040. 18,438 shares traded hands during mid-day trading, a decline of 93% from the average daily volume of 280,606 shares. The stock had previously closed at $7.13.

Wall Street Analysts Forecast Growth

RGC has been the subject of several research reports. Wall Street Zen cut shares of Regencell Bioscience from a “hold” rating to a “sell” rating in a research note on Saturday, July 18th. Weiss Ratings reissued a “sell (e+)” rating on shares of Regencell Bioscience in a research report on Monday, September 21st. One research analyst has rated the stock with a Sell rating. Based on data from MarketBeat.com, Regencell Bioscience currently has a consensus rating of “Sell”.

Check Out Our Latest Analysis on Regencell Bioscience

Regencell Bioscience Stock Down 1.0%

The firm’s 50 day simple moving average is $6.09 and its 200-day simple moving average is $14.31.

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

Institutional Investors Weigh In On Regencell Bioscience

Several hedge funds have recently made changes to their positions in RGC. Bank of America Corp DE raised its stake in 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 valued at $437,000 after acquiring an additional 17,143 shares during the last quarter. Amundi purchased a new position in shares of Regencell Bioscience in the 1st quarter valued at approximately $219,000. Finally, Seven Fleet Capital Management LP purchased a new position in shares of Regencell Bioscience in the 4th quarter valued at approximately $92,000. Institutional investors and hedge funds own 0.13% of the company’s stock.

Regencell Bioscience Company Profile

(Get Free Report)

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.

Further Reading

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