Regencell Bioscience (NASDAQ:RGC) Trading 30% Higher – Here’s What Happened

Regencell Bioscience Holdings Limited (NASDAQ:RGC)’s share price rose 30% during trading on Thursday . The company traded as high as $31.00 and last traded at $28.49. Approximately 661,503 shares traded hands during trading, a decline of 41% from the average daily volume of 1,120,724 shares. The stock had previously closed at $21.91.

Wall Street Analysts Forecast Growth

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

Regencell Bioscience Trading Up 2.1%

The firm has a 50-day moving average price of $21.90 and a two-hundred day moving average price of $17.28.

Institutional Trading of Regencell Bioscience

A number of hedge funds and other institutional investors have recently made changes to their positions in RGC. Y Intercept Hong Kong Ltd bought a new position in Regencell Bioscience in the second quarter valued at $222,000. XTX Topco Ltd bought a new position in shares of Regencell Bioscience in the 3rd quarter valued at about $598,000. BNP Paribas Financial Markets acquired a new stake in shares of Regencell Bioscience in the second quarter valued at about $768,000. Squarepoint Ops LLC bought a new stake in Regencell Bioscience during the second quarter worth about $1,701,000. Finally, Geode Capital Management LLC boosted its position in Regencell Bioscience by 5,637.5% during the second 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 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 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.