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

Regencell Bioscience Holdings Limited (NASDAQ:RGC)’s stock price gapped down before the market opened on Monday . The stock had previously closed at $21.16, but opened at $20.00. Regencell Bioscience shares last traded at $23.18, with a volume of 146,804 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Regencell Bioscience in a report on Monday. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, the stock presently has a consensus rating of “Sell”.

Regencell Bioscience Trading Down 2.5%

The company has a 50-day simple moving average of $15.84.

Institutional Trading of Regencell Bioscience

Several hedge funds have recently bought and sold shares of RGC. Squarepoint Ops LLC bought a new position in shares of Regencell Bioscience in the second quarter worth $1,701,000. Geode Capital Management LLC boosted its position in shares of Regencell Bioscience by 5,637.5% during the 2nd quarter. Geode Capital Management LLC now owns 391,066 shares of the company’s stock valued at $6,664,000 after purchasing an additional 384,250 shares in the last quarter. Greenfield Savings Bank bought a new position in shares of Regencell Bioscience during the 2nd quarter valued at about $187,000. Y Intercept Hong Kong Ltd acquired a new position in shares of Regencell Bioscience in the 2nd quarter worth approximately $222,000. Finally, XTX Topco Ltd bought a new stake in shares of Regencell Bioscience in the 3rd quarter worth approximately $598,000. 0.13% of the stock is currently owned by institutional investors.

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.