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.
BioVie Inc. (NASDAQ: BIVI)
- BioVie presented data for NE3107 at 2023 International Congress of Parkinson's Disease and Movement Disorders. The company’s stock has a 52-week low of $1.96 .
- RSI Value: 26.01
- BIVI Price Action: Shares of BioVie fell around 1% to close at $3.06 on Tuesday.
- 23andMe announced received FDA 510(k) clearance to expand its existing BRCA1/BRCA2 (Selected Variants) Genetic Health Risk Report. It has a 52-week low of $0.9870.
- RSI Value: 29.59
- ME Price Action: Shares of 23andMe Holding fell 8% to close at $1.03 on Tuesday.
- Singular Genomics Sys posted a narrower-than-expected quarterly loss. “We made significant advancements across our operations, manufacturing and commercial infrastructure, and saw growth in our sales funnel. In addition, we shipped three G4 systems, commenced the broad commercial launch of F3 flow cells and consumable kits and are shipping Max Read kits for single cell sequencing to early access customers,” said Drew Spaventa, Chairman and Chief Executive Officer of Singular Genomics. The company’s stock has a 52-week low of $0.4560.
- RSI Value: 14.80
- OMIC Price Action: Shares of Singular Genomics Systems fell 0.9% to close at $0.4658 on Tuesday.
- Galera Therapeutics posted a wider-than-expected quarterly loss. "Following the FDA’s decision on the avasopasem NDA, we have taken decisive steps to extend our cash runway as we seek a Type A meeting with the FDA to discuss the potential path forward for approval,” said Mel Sorensen, M.D., Galera’s President and CEO. The company’s 52-week low is $0.1960.
- RSI Value: 16.72
- GRTX Price Action: Shares of Galera Therapeutics gained 1.6% to close at $0.2151 on Tuesday.
- iSpecimen launched new virtual cancer sequencing procurement program. The company has a 52-week low of $0.6818.
- RSI Value: 21.05
- ISPC Price Action: Shares of iSpecimen fell 1.5% to close at $0.7003 on Tuesday.
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