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.
Cano Health, Inc. (NYSE: CANO)
- Cano Health reported worse-than-expected second-quarter financial results, withdrew its guidance and said it is pursuing a sale process. The company’s stock has a 52-week low of $0.3440 .
- RSI Value: 25.64
- CANO Price Action: Shares of Cano Health fell 10.7% to close at $0.3703 on Friday.
- Kezar Life Sciences reported a year-over-year decrease in second-quarter EPS results. It has a 52-week low of $1.27.
- RSI Value: 23.71
- KZR Price Action: Shares of Kezar Life Sciences fell 7.2% to close at $1.29 on Friday.
- BioLife Solutions reported worse-than-expected second-quarter financial results. The company’s stock has a 52-week low of $10.76.
- RSI Value: 22.74
- BLFS Price Action: Shares of BioLife Solutions fell 6.3% to close at $10.81 on Friday.
- Allakos posted a narrower-than-expected quarterly loss. The company’s 52-week low is $2.97.
- RSI Value: 29.59
- ALLK Price Action: Shares of Allakos fell 6.2% to close at $3.10 on Friday.
- Alaunos Therapeutics announced second-quarter financial results, interim clinical data and the exploration of strategic alternatives. The company has a 52-week low of $0.12.
- RSI Value: 18.51
- TCRT Price Action: Shares of Alaunos Therapeutics fell 5.9% to close at $0.1234 on Friday.
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