Top 4 Health Care Stocks That May Rocket Higher In Q1

The most oversold stocks in the health care 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.

iBio, Inc. IBIO

• On Dec. 5, iBio announced pricing of a $4.5 million public offering. The company’s stock fell around 11% over the past five days and has a 52-week low of $1.16 .
• RSI Value: 23.25
• IBIO Price Action: Shares of iBio fell 4.9% to close at $1.17 on Friday.

GRI Bio, Inc. GRI

• On Dec. 5, the company announced the initiation of patient enrollment in the Phase 2a biomarker study evaluating GRI-0621 for the treatment of IPF. The company’s stock fell around 23% over the past month. It has a 52-week low of $0.2838.
• RSI Value: 27.58
• GRI Price Action: Shares of GRI Bio fell 3% to close at $0.3152 on Friday.

AlloVir, Inc. ALVR

• On Jan. 1, 2024, AlloVir board approved a reduction its workforce by approximately 95% of current employee base to reduce costs and preserve capital. The company’s stock fell around 69% over the past month and has a 52-week low of $0.6230.
• RSI Value: 28.16
• ALVR Price Action: Shares of AlloVir gained 5.3% to close at $0.6950 on Friday.

VYNE Therapeutics Inc. VYNE

• On Nov. 13, VYNE Therapeutics posted a narrower-than-expected quarterly loss. “We have made substantial progress in advancing our business in recent months,” said David Domzalski, President and Chief Executive Officer of VYNE. “With positive results from our Phase 1b trial, we believe there is strong support to advance VYN201 as a potential category-leading therapy in the treatment of vitiligo.” The company’s shares lost around 24% over the past month. The company’s 52-week low is $2.00.
• RSI Value: 28.98
• VYNE Price Action: Shares of VYNE Therapeutics fell 2.8% to close at $2.06 on Friday.

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