Top 5 Healthcare Stocks That Could Fall in March: Mesoblast (NASDAQ:MESO), Inozyme Pharma (NASDAQ:INZY)

Starting March 28, 2024, five healthcare stocks could issue a real warning to investors who consider momentum a key criterion in their trading decisions.

The RSI is a momentum indicator, comparing a stock’s strength on days when prices rise to its strength on days when prices fall. Compared to a stock’s price action, it can give traders a better idea of ​​how a stock might perform in the short term. According to Benzinga Pro, an asset is generally considered overbought when the RSI is above 70.

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

The Pennant Group, Inc. PNTG

• On Feb. 28, Pennant reported better-than-expected quarterly sales. “We are pleased with our strong finish in 2023 and continued momentum as we enter 2024,” said Brent Guerisoli, chief executive officer of Pennant. “Through the execution of our five key areas of focus – leadership development, clinical excellence, employee engagement, margin improvement and growth – we delivered consistent earnings throughout 2023 and delivered on earnings expectations, even after increasing the guidelines during the year”. The company’s shares have gained about 18% over the past month and have a 52 week high of $20.50 .
• RSI value: 90.15
• PNTG Price Action: Shares of Pennant Group gained 1.7% to close at $19.84 on Wednesday.

Mesoblast limited MONTHS

• On March 25, the FDA informed Mesoblast that, following further consideration, available clinical data from its Phase 3 MSB-GVHD001 study appears sufficient to support submission of the proposed Biologics License Application (BLA) for remestemcel-L for pediatric patients with steroid-refractory disease. acute graft-versus-host disease (SR-aGVHD). The company’s shares have gained about 54% over the past five days and has a maximum of 52 weeks of $10.24.
• RSI value: 71.74
• MESO Price Action: Mesoblast shares fell 11.2% to close at $3.49 on Wednesday.

ARS Pharmaceuticals, Inc. SPRY

• On March 21, ARS Pharmaceuticals reported a smaller-than-expected fourth-quarter loss. The company’s shares have gained about 13% over the past five days and have a maximum of 52 weeks of $10.20.
• RSI value: 70.11
• SPRY Price Action: Shares of ARS Pharmaceuticals fell 0.4% to close at $9.96 on Wednesday.

Neuronetics, Inc. STIM

• On March 25, NeuroStar advanced therapy received FDA clearance as a first-line adjunctive treatment for adolescents with depression. The company’s shares are up about 62% over the past month and their 52-week high is $4.99.
• RSI value: 72.16
• STIM Price Action: Shares of Neuronetics gained 0.8% to close at $4.80 on Wednesday.

Inozyme Pharma, Inc. INZY

• On March 26, Inozyme Pharma announced that it will discuss top-line data from its ongoing Phase 1/2 study of INZ-701 in adults with ABCC6 deficiency and all cohorts of its ongoing Phase 1/2 study of INZ-701 in adults with ABCC6 deficiency. ENPP1 deficiency. The company’s shares have risen about 22% over the past five days and has a maximum of 52 weeks of $7.56.
• RSI value: 71.56
• INZY Price Action: Inozyme Pharma shares rose 9% to close at $7.39 on Wednesday.

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