Regencell Bioscience (NASDAQ:RGC) Shares Down 11.4% – What’s Next?

Shares of Regencell Bioscience Holdings Limited (NASDAQ:RGC) dropped 11.4% during trading on Friday. The stock traded as low as $8.42 and last traded at $8.6910. Approximately 150,049 shares were traded during mid-day trading, a decline of 50% from the average session volume of 297,218 shares. The stock had previously closed at $9.81.

Analyst Ratings Changes

A number of brokerages have recently commented on RGC. Wall Street Zen cut Regencell Bioscience from a “hold” rating to a “sell” rating in a research note on Saturday, July 18th. Weiss Ratings restated a “sell (e+)” rating on shares of Regencell Bioscience in a report on Monday, September 21st. One investment analyst has rated the stock with a Sell rating. According to data from MarketBeat.com, the stock currently has a consensus rating of “Sell”.

Regencell Bioscience Trading Down 14.7%

The company has a fifty day moving average price of $6.66 and a 200 day moving average price of $13.54.

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

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Regencell Bioscience stock. Bank of America Corp DE boosted its holdings in Regencell Bioscience Holdings Limited (NASDAQ:RGC) by 59,113.8% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 17,172 shares of the company’s stock after purchasing an additional 17,143 shares during the quarter. Bank of America Corp DE’s holdings in Regencell Bioscience were worth $437,000 at the end of the most recent quarter. 0.13% of the stock is owned by hedge funds and other institutional investors.

About Regencell Bioscience

Regencell Bioscience Holdings Limited is a Hong Kong-based biotechnology company focused on developing traditional Chinese medicine (TCM) formulations for neurological and neurocognitive disorders. Its research has primarily targeted attention deficit hyperactivity disorder (ADHD) and autism spectrum disorder (ASD), conditions for which the company is exploring TCM-based therapeutic approaches.

The company’s development activities center on proprietary herbal formulations and related treatment protocols.