Spotlight on Oversold Healthcare Stocks: A Current Analysis
Investors seeking bargains in the healthcare sector might find the most oversold stocks attractive. Identifying undervalued companies can lead to promising opportunities.
The Relative Strength Index (RSI) serves as a momentum indicator that measures a stock’s performance during price increases compared to declines. When this indicator drops below 30, the asset is often deemed oversold. This insight can be helpful in predicting short-term stock performance, according to Benzinga Pro.
Below, we take a closer look at several key oversold stocks in the healthcare sector, all showing RSIs near or below 30.
Compass Pathways PLC CMPS
- On October 31, Compass Pathways announced it would delay the topline data readout from its COMP005 Phase 3 trial to Q2 2025. Additionally, data for COMP006 will be reported after a 26-week period. This announcement caused the company’s stock to drop approximately 26% in the past five days, with a current 52-week low of $4.05.
- RSI Value: 23.17
- CMPS Price Action: Shares declined 1.5%, closing at $4.68 on Monday.
- Benzinga Pro’s real-time newsfeed highlighted the latest updates regarding CMPS.
Sight Sciences Inc SGHT
- Sight Sciences plans to release its financial results for the third quarter ended September 30, after the market closes on Thursday, November 7. The company has experienced a decline of about 18% over the past month, reaching a 52-week low of $1.58.
- RSI Value: 27.02
- SGHT Price Action: Shares fell 10.6%, closing at $4.66 on Monday.
- Benzinga Pro’s charting tools helped analyze the recent trends in SGHT stock.
PACS Group Inc PACS
- PACS Group shares plunged on Monday following the release of a critical short report by activist investors from Hindenburg Research. The stock fell roughly 25% in the last five days, marking a 52-week low of $22.30.
- RSI Value: 13.66
- PACS Price Action: Shares dropped 27.8%, closing at $31.01 on Monday.
- Benzinga Pro’s signals feature indicated potential volatility for PACS shares.
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