Top 4 Health Care Stocks You May Want To Dump In February

As of Feb. 15, 2024, four stocks in the health care sector could be flashing a real warning to investors who value momentum as a key criteria in their trading decisions.

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 overbought when the RSI is above 70, according to Benzinga Pro.

Here’s the latest list of major overbought players in this sector.

Solid Biosciences Inc. SLDB

• On Jan. 16, Solid Biosciences said it was granted FDA Orphan drug designation for duchenne muscular dystrophy gene therapy candidate SGT-003. The company’s stock gained around 19% over the past five days and has a 52-week high of $9.40 .
• RSI Value: 70.55
• SLDB Price Action: Shares of Solid Biosciences gained 16.6% to close at $9.15 on Wednesday.

Lexicon Pharmaceuticals, Inc. LXRX

• On Jan. 8, Lexicon Pharmaceuticals announced a business and pipeline update at the 42nd Annual J.P. Morgan Healthcare Conference. The company’s stock gained around 152% over the past month and has a 52-week high of $3.79.
• RSI Value: 87.00
• LXRX Price Action: Shares of Lexicon Pharmaceuticals gained 13.3% to close at $3.32 on Wednesday.

Ironwood Pharmaceuticals, Inc. IRWD

• On Jan. 17, Craig-Hallum analyst Chase Knickerbocker initiated coverage on Ironwood Pharmaceuticals with a Buy rating and announced a price target of $21. The company’s stock gained around 32% over the past month and has a 52-week high of $15.70.
• RSI Value: 81.79
• IRWD Price Action: Shares of Ironwood Pharmaceuticals gained 1.6% to close at $15.45 on Wednesday.

Dyne Therapeutics, Inc. DYN

• On Jan. 3, Dyne Therapeutics announced initial clinical data from its ACHIEVE trial of DYNE-101 in patients with DM1 and its DELIVER trial of DYNE-251 in patients with DMD.. The company’s stock jumped around 45% over the past month and has a 52-week high is $25.50.
• RSI Value: 71.46
• DYN Price Action: Shares of Dyne Therapeutics gained 4.7% to close at $24.19 on Wednesday.

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