Regencell Bioscience (NASDAQ:RGC) Sees Large Volume Increase – Still a Buy?

Shares of Regencell Bioscience Holdings Limited (NASDAQ:RGC) saw an uptick in trading volume on Wednesday. 234,856 shares traded hands during mid-day trading, a decline of 17% from the previous session’s volume of 283,209 shares. The stock last traded at $8.43 and had previously closed at $8.19.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on RGC shares. Wall Street Zen cut shares of Regencell Bioscience from a “hold” rating to a “sell” rating in a report on Saturday, July 18th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Regencell Bioscience in a research note on Monday, September 21st. One analyst has rated the stock with a Sell rating. According to data from MarketBeat.com, the stock presently has an average rating of “Sell”.

Regencell Bioscience Stock Down 1.7%

The company has a 50-day simple moving average of $6.04 and a 200 day simple moving average of $14.43.

Regencell Bioscience (NASDAQ:RGC) last issued its quarterly earnings results on Wednesday, October 7th. The company reported ($0.01) EPS for the quarter.

Hedge Funds Weigh In On Regencell Bioscience

Institutional investors and hedge funds have recently bought and sold shares of the stock. Seven Fleet Capital Management LP acquired a new position in Regencell Bioscience during the 4th quarter valued at $92,000. Amundi bought a new stake in Regencell Bioscience in the 1st quarter valued at $219,000. Finally, Bank of America Corp DE grew its position in Regencell Bioscience by 59,113.8% in the 1st 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 during the last quarter. Institutional investors own 0.13% of the company’s stock.

Regencell Bioscience Company Profile

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.