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

Key Points

• Regencell Bioscience Holdings Limited (NASDAQ:RGC) saw its shares open at $17.97 after previously closing at $17.25, reflecting a prior gap up before the market opened.
• Despite the recent stock price increase of 6.4%, Wall Street analysts maintain a "sell" rating for Regencell, with Weiss Ratings reaffirming this stance.
• Several institutional investors significantly increased their stakes in Regencell, with Geode Capital Management growing its position by an impressive 5,637.5% in the second quarter.

Regencell Bioscience Holdings Limited (NASDAQ:RGC - Get Free Report) shares gapped up before the market opened on Tuesday . The stock had previously closed at $17.25, but opened at $17.97. Regencell Bioscience shares last traded at $18.42, with a volume of 140,042 shares traded.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Regencell Bioscience in a report on Saturday, September 27th. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company has a consensus rating of "Sell".

Regencell Bioscience Stock Up 6.4%

The firm has a 50 day moving average price of $14.08.

Hedge Funds Weigh In On Regencell Bioscience

Several institutional investors have recently made changes to their positions in RGC. Geode Capital Management LLC grew 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 position in shares of Regencell Bioscience in the second quarter worth about $1,701,000. BNP Paribas Financial Markets purchased a new stake in shares of Regencell Bioscience during the 2nd quarter worth about $768,000. Y Intercept Hong Kong Ltd acquired a new stake in shares of Regencell Bioscience during the 2nd quarter valued at about $222,000. Finally, Greenfield Savings Bank acquired a new stake in shares of Regencell Bioscience during the 2nd quarter valued at about $187,000. 0.13% of the stock is owned by hedge funds and other 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.