Regencell Bioscience (NASDAQ:RGC) Trading Down 9% – What’s Next?

Shares of Regencell Bioscience Holdings Limited (NASDAQ:RGC) dropped 9% during trading on Friday . The stock traded as low as $29.80 and last traded at $28.6420. Approximately 38,093 shares changed hands during trading, a decline of 88% from the average daily volume of 331,111 shares. The stock had previously closed at $31.47.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Regencell Bioscience in a research report on Friday, March 27th. One analyst has rated the stock with a Sell rating, According to MarketBeat, the stock currently has an average rating of “Sell”.

Regencell Bioscience Stock Down 7.9%

The business has a 50 day moving average price of $27.18 and a 200-day moving average price of $23.85.

Institutional Investors Weigh In On Regencell Bioscience

A number of large investors have recently modified their holdings of RGC. Seven Fleet Capital Management LP purchased a new position in shares of Regencell Bioscience in the fourth quarter valued at $92,000. Vident Advisory LLC boosted its stake in shares of 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 purchasing an additional 11,866 shares during the period. Hudson Bay Capital Management LP purchased a new position in shares of Regencell Bioscience in the fourth quarter valued at $275,000. XTX Topco Ltd purchased a new position in shares of Regencell Bioscience in the third quarter valued at $598,000. Finally, BNP Paribas Financial Markets purchased a new position in shares of Regencell Bioscience in the second quarter valued at $768,000. Institutional investors and hedge funds own 0.13% of the company’s stock.

About Regencell Bioscience

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.