Regencell Bioscience (NASDAQ:RGC) Shares Gap Up - Here's What Happened

Key Points

• Gapped up: Regencell Bioscience opened higher Friday (closed $25.40, opened $26.78) but last traded at $25.1250 on a volume of 18,397 shares.
• Analyst sentiment is negative — Weiss Ratings reaffirmed a "Sell" (sell e+) and MarketBeat shows a consensus "Sell".
• Institutional activity notable: Geode Capital raised its stake by 5,637.5% to 391,066 shares (~$6.66M), yet overall institutional ownership remains about 0.13%.

Regencell Bioscience Holdings Limited (NASDAQ:RGC - Get Free Report) gapped up before the market opened on Friday . The stock had previously closed at $25.40, but opened at $26.78. Regencell Bioscience shares last traded at $25.1250, with a volume of 18,397 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Regencell Bioscience in a report on Monday, December 29th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, Regencell Bioscience has a consensus rating of "Sell".

Regencell Bioscience Stock Performance

The business's 50 day simple moving average is $26.95 and its 200 day simple moving average is $21.24.

Institutional Trading of Regencell Bioscience

Hedge funds and other institutional investors have recently modified their holdings of the business. Geode Capital Management LLC raised 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 buying an additional 384,250 shares during the period. Squarepoint Ops LLC acquired a new stake in Regencell Bioscience during the 2nd quarter worth about $1,701,000. BNP Paribas Financial Markets purchased a new position in Regencell Bioscience during the 2nd quarter valued at about $768,000. XTX Topco Ltd acquired a new position in shares of Regencell Bioscience in the 3rd quarter valued at about $598,000. Finally, Hudson Bay Capital Management LP acquired a new position in shares of Regencell Bioscience in the 4th quarter valued at about $275,000. Institutional investors and hedge funds 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.

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