Top 4 Health Care Stocks That Could Lead To Your Biggest Gains In Q3
Portfolio Pulse from Lisa Levin
The article lists four health care stocks that are currently oversold and could present buying opportunities. These include Scilex Holding Company (SCLX), Sight Sciences, Inc. (SGHT), Tenaya Therapeutics, Inc. (TNYA), and Turnstone Biologics Corp. (TSBX). All four companies have a Relative Strength Index (RSI) below 30, indicating they are oversold.
September 21, 2023 | 9:11 am
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NEGATIVE IMPACT
Scilex Holding Company recently completed its SP-103 Phase 2 study. Its stock fell 9.1% to close at $1.70 on Wednesday.
The completion of the Phase 2 study is a significant milestone for Scilex. However, the stock price fell, indicating a negative market reaction.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100
NEGATIVE IMPACT
Sight Sciences issued Q3 revenue guidance below estimates and cut FY23 revenue guidance. Its stock fell 7.1% to close at $2.88 on Wednesday.
Lower revenue guidance is typically seen as a negative signal by the market, which is reflected in the stock's price decrease.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100
NEGATIVE IMPACT
Tenaya Therapeutics posted a narrower Q2 loss. Its stock fell 3.6% to close at $2.64 on Wednesday.
Despite the narrower loss, the stock price fell, indicating a negative market reaction.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100
NEGATIVE IMPACT
Turnstone Biologics reported a net loss of $21.5 million for Q2 2023. Its stock fell 4.2% to close at $4.13 on Wednesday.
The reported net loss is likely to have contributed to the stock's price decrease.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100