The health care sector’s most oversold stocks are akin to hidden treasure waiting to be unearthed. Their current undervaluation provides a unique chance for investors to dip their toes into the market and potentially strike gold.
The Relative Strength Index (RSI) is the tool used to illuminate these potential gems. When the RSI falls to or below 30, these stocks are classified as oversold, indicating potential for a price jump in the near future. This tool gives investors a valuable insight into the stock’s potential short-term performance.
Let’s inspect these oversold health care stocks, unearth their potential, and explore possible hidden treasures.
iBio, Inc. IBIO
- On Dec. 5, iBio announced pricing of a $4.5 million public offering, which led to a stock drop of approximately 11% over the past five days. The company is currently hovering around its 52-week low of $1.16.
- RSI Value: 23.25
- IBIO Price Action: Shares of iBio closed at $1.17 on Friday after a 4.9% decline.
GRI Bio, Inc. GRI
- On Dec. 5, GRI Bio initiated a Phase 2a biomarker study, which contributed to a stock decrease of around 23% in the past month. The company is currently hovering near its 52-week low of $0.2838.
- RSI Value: 27.58
- GRI Price Action: Shares of GRI Bio closed at $0.3152 on Friday after a 3% decline.
AlloVir, Inc. ALVR
- On Jan. 1, 2024, AlloVir announced a significant reduction in its workforce by approximately 95% to cut costs. This led to a plummet of approximately 69% in the stock price over the past month, with the company nearing its 52-week low of $0.6230.
- RSI Value: 28.16
- ALVR Price Action: Shares of AlloVir closed at $0.6950 on Friday after a 5.3% gain.
VYNE Therapeutics Inc. VYNE
- On Nov. 13, VYNE Therapeutics reported a narrower-than-expected quarterly loss, asserting their progress in advancing their business in recent months. However, the stock still experienced a loss of approximately 24% over the past month, with the company near its 52-week low of $2.00.
- RSI Value: 28.98
- VYNE Price Action: Shares of VYNE Therapeutics closed at $2.06 on Friday after a 2.8% decline.
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