Benzinga - by Avi Kapoor, Benzinga Staff Writer.
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, according to Benzinga Pro.
Here’s the latest list of major oversold players in this sector, having an RSI near or below 30.
Molecular Templates, Inc. (NASDAQ: MTEM)
- On March 4, Molecular Templates issued an update on its programs. The company’s stock fell around 32% over the past five days and has a 52-week low of $2.00 .
- RSI Value: 29.73
- MTEM Price Action: Shares of Molecular Templates fell 24.7% to close at $2.07 on Monday.
- On March 12, Fractyl Health released new preclinical findings for the first clinical candidate in its Rejuva pancreatic gene therapy platform. The company’s stock fell around 31% over the past five days. It has a 52-week low of $5.92.
- RSI Value: 26.30
- GUTS Price Action: Shares of Fractyl Health fell 1.6% to close at $6.25 on Monday.
- On Jan. 5, Inspire Veterinary Partners filed a prospectus related to up to a $5 million public offering. The company’s stock fell around 65% over the past month and has a 52-week low of $0.0380.
- RSI Value: 27.91
- IVP Price Action: Shares of Inspire Veterinary Partners fell 8.8% to close at $0.0456 on Monday.
- On March 13, Outset Medical announced the appointment of medical technology veteran Brent D. Lang to its board of directors. The company’s shares lost around 26% over the past five days. The company’s 52-week low is $1.9750.
- RSI Value: 25.57
- OM Price Action: Shares of Outset Medical fell 7.8% to close at $2.00 on Monday.
- On Feb. 15, Pacific Biosciences posted a narrower-than-expected quarterly loss. "Our team successfully executed its goals in 2023 and launched PacBio on a trajectory this company has never seen before," said Christian Henry, President and CEO of PacBio. "We continue to build solutions across the workflow, allowing our customers to further scale on HiFi, and we are encouraged to see how researchers are already making discoveries and shifting paradigms with the power and economics of Revio and the extraordinary accuracy of Onso." The company’s shares fell around 31% over the past month. The company has a 52-week low of $3.63.
- RSI Value: 29.10
- PACB Price Action: Shares of Pacific Biosciences of California fell 3.2% to close at $3.67 on Monday.
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