Investors Seek Bargains: Oversold Stocks in the Health Care Sector

In the health care sector, key stocks have become oversold, creating potential opportunities for investors. Understanding how these stocks are performing can provide insight into future price movements.

The Relative Strength Index (RSI) serves as a valuable tool for traders. It measures a stock’s performance on days when prices rise versus days when prices fall. Typically, a stock is classified as oversold when the RSI is below 30, as reported by Benzinga Pro.

Below is a current overview of notable health care stocks with an RSI close to or below 30.

Rocket Pharmaceuticals Inc RCKT

• On Dec. 11, Rocket Pharmaceuticals announced a $165 million upsized public offering of 13.2 million shares priced at $12.50 each. The stock has declined about 10% over the last month and reached a 52-week low of $11.15.
• RSI Value: 26.8
• RCKT Price Action: The shares fell 1.3% to close at $12.56 on Friday.
• Benzinga Pro’s real-time newsfeed provided the latest updates on RCKT.

Inovio Pharmaceuticals Inc INO 

• On Dec. 13, Inovio Pharmaceuticals revealed a public offering of 10 million shares, targeting gross profits of $30 million. The stock has plummeted approximately 53% in the past month, with a 52-week low of $1.74.
• RSI Value: 18.5
• INO Price Action: Shares increased by 7.7%, closing at $1.96 on Friday.
• Benzinga Pro’s charting tools tracked the recent trend for INO stock.

Outlook Therapeutics Inc OTLK

• On Dec. 27, Outlook Therapeutics published its fiscal year 2024 earnings per share results, noting a year-over-year increase. CFO and interim CEO Lawrence Kenyon remarked on the company’s achievements, specifically mentioning the positive reimbursement decision from NICE in the UK for LYTENAVA™. This product is set for launch in the UK and Germany in the first half of 2025. However, the stock has dropped about 72% over the last six months, with a 52-week low of $0.87.
• RSI Value: 26.9
• OTLK Price Action: The shares rose by 8.8% to close at $2.24 on Friday.
• Benzinga Pro’s alerts indicated a promising breakout for OTLK shares.

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