Regencell Bioscience (NASDAQ:RGC) Stock Price Down 7.3% - Here's Why

Key Points

• Regencell Bioscience shares fell about 7.3% to $23.79 on Monday (trading as low as $23.60) on just 27,765 shares, a 93% drop from its average session volume.
• Analyst sentiment is negative: Weiss Ratings reiterated a "Sell (e+)" and the stock's consensus rating on MarketBeat is Sell.
• Several hedge funds recently built or increased positions, but institutional ownership remains tiny at 0.13%; the company develops Traditional Chinese medicine treatments for neurocognitive disorders such as ADHD and autism.

Regencell Bioscience Holdings Limited (NASDAQ:RGC - Get Free Report)'s stock price fell 7.3% on Monday . The company traded as low as $23.60 and last traded at $23.7890. 27,765 shares changed hands during trading, a decline of 93% from the average session volume of 413,495 shares. The stock had previously closed at $25.67.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a "sell (e+)" rating on shares of Regencell Bioscience in a research note on Friday. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company has an average rating of "Sell".

Regencell Bioscience Stock Down 8.1%

The stock has a 50 day simple moving average of $26.92 and a 200-day simple moving average of $21.43.

Institutional Investors Weigh In On Regencell Bioscience

A number of hedge funds have recently bought and sold shares of the business. Seven Fleet Capital Management LP bought a new stake in shares of Regencell Bioscience in the 4th quarter worth about $92,000. Hudson Bay Capital Management LP bought a new position in shares of Regencell Bioscience in the 4th quarter valued at about $275,000. Vident Advisory LLC grew its position in Regencell Bioscience by 65.7% in the fourth quarter. Vident Advisory LLC now owns 29,934 shares of the company's stock worth $629,000 after acquiring an additional 11,866 shares in the last quarter. XTX Topco Ltd purchased a new position in Regencell Bioscience in the third quarter worth about $598,000. Finally, BNP Paribas Financial Markets bought a new stake in Regencell Bioscience during the second quarter worth approximately $768,000. 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.

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