Regencell Bioscience (NASDAQ:RGC) Shares Down 18.4% – Here’s What Happened

Shares of Regencell Bioscience Holdings Limited (NASDAQ:RGC) fell 18.4% on Tuesday . The stock traded as low as $35.75 and last traded at $35.99. 379,673 shares changed hands during trading, a decline of 76% from the average session volume of 1,569,285 shares. The stock had previously closed at $44.11.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Regencell Bioscience in a research note on Monday, December 29th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Regencell Bioscience presently has a consensus rating of “Sell”.

Regencell Bioscience Price Performance

The company has a 50-day moving average price of $19.08 and a two-hundred day moving average price of $16.56.

Hedge Funds Weigh In On Regencell Bioscience

Hedge funds have recently bought and sold shares of the company. Y Intercept Hong Kong Ltd bought a new stake in Regencell Bioscience during the 2nd quarter worth approximately $222,000. XTX Topco Ltd purchased a new position in shares of Regencell Bioscience during the 3rd quarter valued at $598,000. BNP Paribas Financial Markets purchased a new position in shares of Regencell Bioscience during the 2nd quarter valued at $768,000. Squarepoint Ops LLC bought a new position in shares of Regencell Bioscience in the second quarter worth $1,701,000. Finally, Geode Capital Management LLC raised its position in shares of Regencell Bioscience by 5,637.5% in the second quarter. Geode Capital Management LLC now owns 391,066 shares of the company’s stock worth $6,664,000 after buying an additional 384,250 shares in the last quarter. Hedge funds and other institutional investors 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.