Join +750K new investors every month who copy stock picks from billionaire's portfoliosSign Up Free

Top 4 Health Care Stocks You May Want To Dump In February

Published 15/02/2024, 13:15
© Reuters.  Top 4 Health Care Stocks You May Want To Dump In February
IRWD
-
LXRX
-
SLDB
-

Benzinga - by Avi Kapoor, Benzinga Staff Writer.

As of Feb. 15, 2024, four stocks in the health care sector could be flashing a real warning to investors who value momentum as a key criteria in their trading decisions.

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 overbought when the RSI is above 70, according to Benzinga Pro.

Here’s the latest list of major overbought players in this sector.

Solid Biosciences Inc. (NASDAQ: SLDB)

  • On Jan. 16, Solid Biosciences said it was granted FDA Orphan drug designation for duchenne muscular dystrophy gene therapy candidate SGT-003. The company’s stock gained around 19% over the past five days and has a 52-week high of $9.40 .
  • RSI Value: 70.55
  • SLDB Price Action: Shares of Solid Biosciences gained 16.6% to close at $9.15 on Wednesday.
Lexicon Pharmaceuticals, Inc. (NASDAQ: LXRX)
  • On Jan. 8, Lexicon Pharmaceuticals announced a business and pipeline update at the 42nd Annual J.P. Morgan Healthcare Conference. The company’s stock gained around 152% over the past month and has a 52-week high of $3.79.
  • RSI Value: 87.00
  • LXRX Price Action: Shares of Lexicon Pharmaceuticals gained 13.3% to close at $3.32 on Wednesday.
Ironwood Pharmaceuticals, Inc. (NASDAQ: IRWD)
  • On Jan. 17, Craig-Hallum analyst Chase Knickerbocker initiated coverage on Ironwood Pharmaceuticals with a Buy rating and announced a price target of $21. The company’s stock gained around 32% over the past month and has a 52-week high of $15.70.
  • RSI Value: 81.79
  • IRWD Price Action: Shares of Ironwood Pharmaceuticals gained 1.6% to close at $15.45 on Wednesday.
Dyne Therapeutics, Inc. (NASDAQ: DYN)
  • On Jan. 3, Dyne Therapeutics announced initial clinical data from its ACHIEVE trial of DYNE-101 in patients with DM1 and its DELIVER trial of DYNE-251 in patients with DMD.. The company’s stock jumped around 45% over the past month and has a 52-week high is $25.50.
  • RSI Value: 71.46
  • DYN Price Action: Shares of Dyne Therapeutics gained 4.7% to close at $24.19 on Wednesday.

Read More: Cisco, Deere And 3 Stocks To Watch Heading Into Thursday

© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Read the original article on Benzinga

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.