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.
Syros Pharmaceuticals, Inc. (NASDAQ:SYRS)
- On March 27, Syros Pharmaceuticals posted weaker-than-expected fourth-quarter results. “We are entering 2024 poised for a major transformation,” said Conley Chee, Chief Executive Officer of Syros. “We recently completed enrollment of the 190 patients necessary for our primary endpoint analysis in the SELECT-MDS-1 Phase 3 trial, and we remain on track to report pivotal CR data by the middle of the fourth quarter of this year. We are optimistic about this data, which we believe will further reinforce tamibarotene’s potential as a differentiated, biologically targeted approach for the approximately 50% of HR-MDS patients who are positive for RARA overexpression.” The company’s stock fell around 19% over the past five days and has a 52-week low of $2.09.
- RSI Value: 28.27
- SYRS Price Action: Shares of Syros Pharmaceuticals fell 5.8% to close at $5.04 on Monday.
Disc Medicine, Inc. (NASDAQ:IRON)
- On April 1, Disc Medicine reported topline results from the Phase 2 AURORA study of bitopertin in patients with EPP. The company’s stock fell around 43% over the past five days. It has a 52-week low of $20.05.
- RSI Value: 21.25
- IRON Price Action: Shares of Disc Medicine dipped 45.1% to close at $34.21 on Monday.
Humana Inc. (NYSE:HUM)
- On March 22, Raymond James analyst John Ransom initiated coverage on Humana with a Market Perform rating. The company’s stock fell around 29% over the past six months and has a 52-week low of $334.54.
- RSI Value: 26.30
- HUM Price Action: Shares of Humana gained 1.4% to close at $351.45 on Monday.
