Regencell Bioscience (NASDAQ:RGC) Shares Up 8.7% – Still a Buy?

Regencell Bioscience Holdings Limited (NASDAQ:RGC) shot up 8.7% during trading on Tuesday. The company traded as high as $7.06 and last traded at $7.3490. 101,532 shares traded hands during mid-day trading, a decline of 66% from the average daily volume of 299,003 shares. The stock had previously closed at $6.76.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on RGC shares. Weiss Ratings restated a “sell (e+)” rating on shares of Regencell Bioscience in a research note on Monday, September 21st. Wall Street Zen cut shares of Regencell Bioscience from a “hold” rating to a “sell” rating in a research report on Saturday, July 18th. One analyst has rated the stock with a Sell rating. According to MarketBeat, Regencell Bioscience presently has a consensus rating of “Sell”.

Regencell Bioscience Price Performance

The company has a fifty day moving average price of $6.78 and a 200-day moving average price of $17.58.

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

Institutional Trading of Regencell Bioscience

A hedge fund recently raised its position in Regencell Bioscience stock. Bank of America Corp DE increased its stake in shares of Regencell Bioscience Holdings Limited (NASDAQ:RGC) by 59,113.8% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund 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. Hedge funds and other institutional investors own 0.13% of the company’s stock.

Regencell Bioscience Company Profile

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.