Regencell Bioscience (NASDAQ:RGC) Shares Climb 7% – Here’s What Happened

Shares of Regencell Bioscience Holdings Limited (NASDAQ:RGC) traded up 7% during mid-day trading on Tuesday. The stock traded as high as $7.90 and last traded at $7.75. 186,897 shares changed hands during mid-day trading, a decline of 34% from the average daily volume of 284,048 shares. The stock had previously closed at $7.24.

Analysts Set New Price Targets

Several equities analysts recently weighed in on RGC shares. Weiss Ratings reiterated a “sell (e+)” rating on shares of Regencell Bioscience in a research report on Monday, September 21st. Wall Street Zen downgraded shares of Regencell Bioscience from a “hold” rating to a “sell” rating in a research note on Saturday, July 18th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, Regencell Bioscience has a consensus rating of “Sell”.

Regencell Bioscience Stock Performance

The firm’s 50 day simple moving average is $5.86 and its 200 day simple moving average is $15.21.

Hedge Funds Weigh In On Regencell Bioscience

Several large investors have recently made changes to their positions in RGC. Seven Fleet Capital Management LP acquired a new stake in shares of Regencell Bioscience during the fourth quarter worth about $92,000. Amundi purchased a new stake in shares of Regencell Bioscience in the 1st quarter valued at about $219,000. Finally, 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. 0.13% of the stock is currently owned by institutional investors and hedge funds.

About Regencell Bioscience

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.