Regencell Bioscience (NASDAQ:RGC) Shares Down 15.1% – Here’s What Happened

Regencell Bioscience Holdings Limited (NASDAQ:RGC)’s stock price dropped 15.1% during mid-day trading on Wednesday . The company traded as low as $10.17 and last traded at $9.41. Approximately 83,300 shares were traded during mid-day trading, a decline of 70% from the average session volume of 279,030 shares. The stock had previously closed at $11.08.

Analyst Upgrades and Downgrades

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

Regencell Bioscience Trading Down 12.5%

The company’s fifty day moving average is $23.60 and its two-hundred day moving average is $25.68.

Regencell Bioscience (NASDAQ:RGC) last released its quarterly earnings results on Friday, May 8th. The company reported ($0.00) EPS for the quarter.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of RGC. Seven Fleet Capital Management LP acquired a new stake in Regencell Bioscience in the fourth quarter valued at $92,000. Amundi bought a new position in shares of Regencell Bioscience during the first quarter valued at approximately $219,000. Hudson Bay Capital Management LP bought a new position in Regencell Bioscience during the 4th quarter worth $275,000. Bank of America Corp DE grew its position in shares of Regencell Bioscience by 59,113.8% during the first quarter. Bank of America Corp DE now owns 17,172 shares of the company’s stock worth $437,000 after acquiring an additional 17,143 shares during the last quarter. Finally, XTX Topco Ltd acquired a new stake in shares of Regencell Bioscience in the third quarter valued at approximately $598,000. 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.