Benzinga - by Lisa Levin, Benzinga Editor.
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.
Cutera, Inc. (NASDAQ: CUTR)
- Cutera recently appointed Brent Hauser as President, International. Taylor Harris, Chief Executive Officer, said, “I am thrilled to welcome Brent to the Cutera team. During his two decades in the aesthetics industry, Brent has demonstrated tremendous leadership capability and commercial savvy in markets across the globe. And in our time working together at Zeltiq, I developed tremendous respect for Brent as an individual, one who demonstrates all of the leadership commitments and core values to which Cutera aspires, including a relentless focus on our customers.” The company’s stock has a 52-week low of $4.40 .
- RSI Value: 24.18
- CUTR Price Action: Shares of Cutera gained 9.2% to close at $4.97 on Thursday.
- Omega Therapeutics announced that it will present new preclinical data supporting the potential of OTX-2101 at the AACR-NCI-EORTC International Conference on Molecular Targets and Cancer Therapeutics. It has a 52-week low of $1.67.
- RSI Value: 28.37
- OMGA Price Action: Shares of Omega Therapeutics jumped 10.1% to close at $1.90 on Thursday.
- VolitionRX posted a narrower-than-expected second-quarter loss. "We continued making considerable progress with our Centers of Excellence in Europe for Nu.Q® NETs, with the first clinical paper resulting from one Center already submitted for peer review and look forward to hosting a Key Opinion Leader Roundtable Event focused on sepsis in September," commented Cameron Reynolds, President and Group Chief Executive Officer of Volition. The company’s stock has a 52-week low of $0.63.
- RSI Value: 28.55
- VNRX Price Action: Shares of VolitionRx gained 3.7% to close at $0.70 on Thursday.
- Revolution Medicines posted a wider-than-expected second-quarter loss. “With growing confidence in our pioneering RAS-focused drug candidate pipeline, we believe Revolution Medicines is poised for a transformative second half of the year. We intend to share significant clinical updates on our most advanced RAS(ON) Inhibitors, RMC-6236 and RMC-6291, through oral presentations at the Triple Meeting and ESMO in October,” said Mark A. Goldsmith, M.D., Ph.D., chief executive officer and chairman of Revolution Medicines. The company’s 52-week low is $17.47.
- RSI Value: 28.91
- RVMD Price Action: Shares of Revolution Medicines gained 3.8% to close at $25.26 on Thursday.
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