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.
Corcept Therapeutics Incorporated (NASDAQ: CORT)
- On Nov. 1, 2023, Corcept Therapeutics announced the appointment of Monica Tellado as President, Emerging Markets. The company’s stock has a 52-week low of $17.86 .
- RSI Value: 28.71
- CORT Price Action: Shares of Corcept Therapeutics fell 1.2% to close at $32.48 on Friday.
- On Dec. 7, Kintara Therapeutics announced a review of strategic alternatives focused on maximizing stockholder value. The company’s stock fell around 49% over the past month. It has a 52-week low of $0.16.
- RSI Value: 23.28
- KTRA Price Action: Shares of Kintara Therapeutics fell 12.1% to close at $0.1696 on Friday.
- On Nov. 3, Rapid Micro Biosystems posted in-line loss for the third quarter. "We are pleased to report that we exceeded our revenue guidance for the third consecutive quarter this year," said Robert Spignesi, President and CEO. The company’s stock fell around 20% over the past five days and has a 52-week low of $0.74.
- RSI Value: 25.60
- RPID Price Action: Shares of Rapid Micro Biosystems fell 15.4% to close at $0.74 on Friday.
- On Dec. 19, Motus GI Holdings announced the pricing of a $5 million public offering of 3,333,334 shares of common stock at $1.50 per share. The company’s shares lost around 74% over the past month. The company’s 52-week low is $1.14.
- RSI Value: 27.00
- MOTS Price Action: Shares of Motus GI Holdings fell 12.1% to close at $1.2750 on Friday.
- On Dec. 26, Milestone Pharmaceuticals announced that it received a Refusal to File letter from the FDA for the New Drug Application for self-administered etripamil nasal spray for the treatment of paroxysmal supraventricular tachycardia. The company’s shares fell around 42% over the past five days. The company has a 52-week low of $1.62.
- RSI Value: 27.64
- MIST Price Action: Shares of Milestone Pharmaceuticals fell 5.7% to close at $1.67 on Friday.
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