Regencell Bioscience (NASDAQ:RGC) Stock Price Down 8.3% – Here’s Why

Regencell Bioscience Holdings Limited (NASDAQ:RGC) traded down 8.3% during mid-day trading on Friday . The stock traded as low as $22.26 and last traded at $22.57. 48,249 shares traded hands during mid-day trading, a decline of 99% from the average session volume of 7,307,676 shares. The stock had previously closed at $24.60.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Regencell Bioscience in a report on Monday, December 22nd. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Sell”.

Regencell Bioscience Stock Performance

The stock has a 50 day moving average of $15.57.

Institutional Investors Weigh In On Regencell Bioscience

A number of large investors have recently made changes to their positions in the stock. Geode Capital Management LLC increased its position in shares of Regencell Bioscience by 5,637.5% in the 2nd quarter. Geode Capital Management LLC now owns 391,066 shares of the company’s stock valued at $6,664,000 after acquiring an additional 384,250 shares during the period. Squarepoint Ops LLC purchased a new stake in Regencell Bioscience during the 2nd quarter valued at about $1,701,000. BNP Paribas Financial Markets acquired a new position in shares of Regencell Bioscience in the second quarter valued at about $768,000. XTX Topco Ltd acquired a new position in shares of Regencell Bioscience in the third quarter valued at about $598,000. Finally, Y Intercept Hong Kong Ltd purchased a new position in shares of Regencell Bioscience in the second quarter worth about $222,000. 0.13% of the stock is owned by hedge funds and other 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.