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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, according to Benzinga Pro.

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

MoonLake Immunotherapeutics (NASDAQ:MLTX)

• On Sept. 28, MoonLake Immunotherapeutics reported week-16 results from its Phase 3 VELA-1 and VELA-2 trials. The trials used HiSCR75—a 75% reduction in abscess and inflammatory nodule count with no increase in abscesses or draining tunnels—as the primary endpoint. The company's stock fell around 86% over the past month and has a 52-week low of $5.95.
• RSI Value: 21.5
• MLTX Price Action: Shares of MoonLake Immunotherapeutics jumped 13% to close at $8.43 on Friday.
• Edge Stock Ratings: 1.06 Momentum score.

CorVel Corp (NASDAQ:CRVL)   

• On Sept. 12, CorVel's Brandon T. O’Brien stepped down as CFO. The company's stock fell around 14% over the past month and has a 52-week low of $72.15.
• RSI Value: 27.2
• CRVL Price Action: Shares of CorVel rose 0.6% to close at $73.83 on Friday.
• Benzinga Pro’s charting tool helped identify the trend in CRVL stock.

Harmony Biosciences Holdings Inc (NASDAQ:HRMY)

• On Sept. 24, Harmony Biosciences Holdings released topline results from its Phase 3 registrational clinical trial (the RECONNECT Study) of ZYN002 in Fragile X syndrome (FXS). Fragile X syndrome is a rare genetic disorder that is the leading known cause of both inherited intellectual disability and autism spectrum disorder. "We have a late-stage, catalyst-rich pipeline with multiple Phase 3 programs in the clinic and continue to be on track to initiate our Phase 3 trials for pitolisant HD in narcolepsy and idiopathic hypersomnia in the fourth quarter of this year. Harmony's unique profile as a profitable self-funding biotech company with strong cash-generation positions us well to drive future growth," said Jeffrey Dayno, President and CEO of Harmony Biosciences. The company's stock fell around 24% over the past month and has a 52-week low of $26.26.
• RSI Value: 28.9
• HRMY Price Action: Shares of Harmony Biosciences gained 2% to close at $27.28 on Friday.
• Benzinga Pro’s signals feature notified of a potential breakout in HRMY shares.

Learn more about BZ Edge Rankings—click to see scores for other stocks in the sector and see how they compare.

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