Regencell Bioscience (NASDAQ:RGC) Trading Down 5.7% – Here’s Why

Regencell Bioscience Holdings Limited (NASDAQ:RGC) shares dropped 5.7% during mid-day trading on Tuesday . The company traded as low as $30.72 and last traded at $30.39. Approximately 118,547 shares were traded during mid-day trading, a decline of 70% from the average daily volume of 390,277 shares. The stock had previously closed at $32.24.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Regencell Bioscience in a report on Friday, March 27th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company currently has an average rating of “Sell”.

Regencell Bioscience Price Performance

The stock has a 50-day simple moving average of $27.13 and a 200 day simple moving average of $22.54.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of RGC. Squarepoint Ops LLC bought a new position in Regencell Bioscience in the 2nd quarter valued at $1,701,000. BNP Paribas Financial Markets bought a new position in Regencell Bioscience in the 2nd quarter valued at $768,000. XTX Topco Ltd bought a new position in shares of Regencell Bioscience in the 3rd quarter worth $598,000. Hudson Bay Capital Management LP bought a new position in shares of Regencell Bioscience in the 4th quarter worth $275,000. Finally, Vident Advisory LLC boosted its position in shares of Regencell Bioscience by 65.7% in the 4th quarter. Vident Advisory LLC now owns 29,934 shares of the company’s stock worth $629,000 after purchasing an additional 11,866 shares during the last quarter. 0.13% of the stock is currently owned by institutional investors.

Regencell Bioscience Company Profile

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.