Regencell Bioscience (NASDAQ:RGC) Shares Down 10.8% – Should You Sell?

Regencell Bioscience Holdings Limited (NASDAQ:RGC) shares were down 10.8% on Wednesday . The company traded as low as $6.50 and last traded at $6.0860. 61,569 shares changed hands during trading, a decline of 79% from the average daily volume of 299,905 shares. The stock had previously closed at $6.82.

Analyst Ratings Changes

Several brokerages recently commented on RGC. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Regencell Bioscience in a report on Wednesday, June 24th. Wall Street Zen cut Regencell Bioscience from a “hold” rating to a “sell” rating in a research report on Saturday, July 18th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Regencell Bioscience has a consensus rating of “Sell”.

Regencell Bioscience Stock Performance

The stock has a 50-day moving average price of $5.71 and a two-hundred day moving average price of $17.45.

Hedge Funds Weigh In On Regencell Bioscience

Several large investors have recently added to or reduced their stakes in the company. Bank of America Corp DE increased its stake in shares of Regencell Bioscience by 59,113.8% in the first quarter. Bank of America Corp DE now owns 17,172 shares of the company’s stock worth $437,000 after purchasing an additional 17,143 shares in the last quarter. Amundi purchased a new position in shares of Regencell Bioscience during the 1st quarter valued at $219,000. Seven Fleet Capital Management LP bought a new position in Regencell Bioscience in the 4th quarter worth $92,000. Vident Advisory LLC raised its holdings in Regencell Bioscience by 65.7% during the fourth quarter. Vident Advisory LLC now owns 29,934 shares of the company’s stock valued at $629,000 after acquiring an additional 11,866 shares during the period. Finally, Hudson Bay Capital Management LP purchased a new position in shares of Regencell Bioscience in the fourth quarter valued at about $275,000. Hedge funds and other institutional investors 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.