Regencell Bioscience (NASDAQ:RGC) Stock Jumps 6.6% – Still a Buy?

Regencell Bioscience Holdings Limited (NASDAQ:RGC)’s stock price traded up 6.6% during trading on Tuesday. The company traded as high as $7.57 and last traded at $7.6040. 18,438 shares changed 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.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on RGC shares. Wall Street Zen downgraded Regencell Bioscience from a “hold” rating to a “sell” rating in a research note on Saturday, July 18th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Regencell Bioscience in a report on Monday, September 21st. One investment analyst has rated the stock with a Sell rating. According to data from MarketBeat.com, the stock presently has an average rating of “Sell”.

Regencell Bioscience Stock Up 19.3%

The company’s 50 day moving average price is $6.00 and its two-hundred day moving average price is $14.55.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of RGC. Bank of America Corp DE grew its position 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 valued at $437,000 after acquiring an additional 17,143 shares during the period. Amundi bought a new position in Regencell Bioscience in the 1st quarter worth $219,000. Finally, Seven Fleet Capital Management LP bought a new position in Regencell Bioscience in the 4th quarter worth $92,000. Hedge funds and other institutional investors own 0.13% of the company’s stock.

Regencell Bioscience Company Profile

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.