Top 4 Health Care Stocks That Could Lead To Your Biggest Gains In Q3

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.

Here’s the latest list of major oversold players in this sector, having an RSI near or below 30.

Scilex Holding Company SCLX

  • Scilex announced the completion of its SP-103 Phase 2 study to evaluate the safety and efficacy in subjects with acute LBP. The company’s stock has a 52-week low of $1.66 .
  • RSI Value: 28.03
  • SCLX Price Action: Shares of Scilex Holding fell 9.1% to close at $1.70 on Wednesday.

Sight Sciences, Inc. SGHT

  • Sight Sciences issued third-quarter revenue guidance below estimates and cut FY23 revenue guidance below estimates. “We typically see a strong second quarter followed by a slower start to the third quarter given traditional seasonality patterns. While we had a strong second quarter prior to the LCD proposals, we have faced a lower cadence of new account additions and relatively flat utilization and we have not experienced the expected increase in commercial activity thus far in August and early September,” said Paul Badawi, Founder and Chief Executive Officer of Sight Sciences. It has a 52-week low of $2.87.
  • RSI Value: 23.41
  • SGHT Price Action: Shares of Sight Sciences fell 7.1% to close at $2.88 on Wednesday.

Tenaya Therapeutics, Inc. TNYA

  • Tenaya Therapeutics posted a narrower second-quarter loss. “We are looking ahead to important near-term milestones across all our programs. Dosing the first patient in our first clinical trial for TN-201 will be a significant moment for our company and bring us one step closer to bringing much-needed solutions to those impacted by genetic HCM,” said Faraz Ali, Chief Executive Officer of Tenaya. The company’s stock has a 52-week low of $1.64.
  • RSI Value: 28.84
  • TNYA Price Action: Shares of Tenaya Therapeutics fell 3.6% to close at $2.64 on Wednesday.

Turnstone Biologics Corp. TSBX

  • Net loss for the three months ended June 30, 2023, was $21.5 million, versus year-ago net income of $11.6 million. “I am extremely proud of the recent achievements of the Turnstone team, including the successful completion of our upsized IPO which, despite challenging current market conditions, is indicative of the potential for Turnstone to deliver transformative therapies to the millions of cancer patients underserved by current treatment options,” said Sammy Farah, Ph.D., M.B.A., Turnstone’s President and Chief Executive Officer. The company’s 52-week low is $3.94.
  • RSI Value: 25.73
  • TSBX Price Action: Shares of Turnstone Biologics fell 4.2% to close at $4.13 on Wednesday.


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