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.
Kintara Therapeutics, Inc. (NASDAQ: KTRA)
- On Dec. 7, Kintara Therapeutics announced a review of strategic alternatives focused on maximizing stockholder value. The company’s stock fell around 46% over the past month and has a 52-week low of $0.1650 .
- RSI Value: 21.46
- KTRA Price Action: Shares of Kintara Therapeutics fell 1% to close at $0.1980 on Friday.
- On Dec. 14, Aadi Bioscience released results from a planned interim analysis on the first third of participants in the ongoing tumor-agnostic PRECISION1 trial of nab-sirolimus in patients with TSC1 or TSC2 inactivating alterations.. The company’s stock fell around 54% over the past five days. It has a 52-week low of $2.25.
- RSI Value: 23.73
- AADI Price Action: Shares of Aadi Bioscience fell 56.4% to close at $2.34 on Friday.
- On Nov. 13, Durect posted downbeat sales for the third quarter. "The recently reported topline results from the AHFIRM trial showed that larsucosterol has the potential to reduce mortality in alcohol-associated hepatitis (AH) patients," stated James E. Brown, D.V.M., President and CEO of DURECT. The company’s stock fell around 9% over the past month and has a 52-week low of $0.5901.
- RSI Value: 27.92
- DRRX Price Action: Shares of DURECT fell 2% to close at $0.5901 on Friday.
Read More: Investor Sentiment Falls But Fear & Greed Index Remains In 'Greed' Zone
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