Benzinga - The most oversold stocks in the health care sector presents an opportunity to buy into undervalued companies.
The RSI is a momentum indicator, which compares a stock's strength on days when prices go up to its strength on days when prices go down. When compared to a stock's price action, it can give traders a better sense of how a stock may perform in the short term. An asset is typically considered oversold when the RSI is below 30.
Here’s the latest list of major oversold players in this sector, having an RSI near or below 30.
Third Harmonic Bio, Inc. (NASDAQ: THRD)
- Third Harmonic Bio, last month, announced discontinuation of its Phase 1b study of THB001 in chronic inducible urticaria.. The company’s stock has a 52-week low of $3.89 .
- RSI Value: 28.67
- THRD Price Action: Shares of Third Harmonic Bio settled at $4.25 on Thursday and added 6.4% in after-hours trading.
- Wells Fargo recently upgraded the stock from Underweight to Equal-Weight. The company’s stock has a 52-week low of $68.00.
- RSI Value: 29.19
- TECH Price Action: Shares of Bio-Techne rose 0.6% to close at $80.32 on Thursday.
- Piper Sandler recently maintained AbbVie with an Overweight and raised the price target from $155 to $157.. The company’s stock has a 52-week low of $133.05.
- RSI Value: 28.94
- ABBV Price Action: Shares of AbbVie fell 0.3% to close at $147.40 on Thursday and added 0.2% in after-hours trading.
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1Life Healthcare, Inc. - 1Life Healthcare, during November, posted a Q3 loss of $0.57 per share. The company’s 52-week low is $5.94.
- RSI Value: 29.09
- ONEM Price Action: Shares of 1Life Healthcare fell 0.7% to close at 15.98 on Thursday and lost 0.8% in after-hours trading.
- HC Wainwright & Co. downgraded Fate Therapeutics from Buy to Neutral and lowered the price target from $115 to $7. The company has a 52-week low of $4.02.
- RSI Value: 24.79
- FATE Price Action: Shares of Fate Therapeutics fell 1.9% to close at $5.30 on Thursday and lost 1.3% in after-hours trading.
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