5 Most Expensive Health Care Stocks You Should Worry About

The most overbought stocks in the health care sector presents an opportunity to go short on these overvalued 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 overbought when the RSI is above 70.

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

CymaBay Therapeutics, Inc. (NASDAQ:CBAY)

• CymaBay Therapeutics, during October, posted a narrower-than-expected quarterly loss. The company’s stock has a 52-week high of $6.41 .
• RSI Value: 88.40
• CBAY Price Action: Shares of CymaBay Therapeutics gained 3.6% to settle at $6.27 on Friday and gained 1.3% in after-hours trading.

VKTX, Inc. (NASDAQ:VKTX)

• Maxim Group recently maintained Viking Therapeutics with a Buy and raised the price target from $10 to $15. The company’s stock has a 52-week high of $9.61.
• RSI Value: 86.28
• VKTX Price Action: Shares of VKTX gained 0.9% to close at $9.40 on Friday and lost 1.1% in after-hours trading.

Imago BioSciences, Inc. (NASDAQ:IMGO)

• Imago BioSciences recently said first participant was dosed in investigator-sponsored Phase 2 study of bomedemstat in combination with ruxolitinib in myelofibrosis. The company has a 52-week high of $36.09.
• RSI Value: 86.25
• IMGO Price Action: Shares of Imago BioSciences fell 0.1% to close at $35.95 on Friday and lost 0.1% in after-hours trading.

MDGL, Inc. (NASDAQ:MDGL)

• Madrigal Pharmaceuticals recently events reported $300 million in financing to advance resmetirom program. The company’s 52-week high is $315.45.
• RSI Value: 81.27
• MDGL Price Action: Shares of MDGL Financial fell 2.1% to close at $290.25 on Friday and added 0.6% in after-hours trading.

Horizon Therapeutics Public Limited Company (NASDAQ:HZNP)

• Horizon Therapeutics recently announced the Brazilian Health Regulatory Agency approved UPLIZNA as a monotherapy for the treatment of adult patients with NMOSD who are AQP4-IgG+. The company has a 52-week high of $117.49.
• RSI Value: 81.07
• HZNP Price Action: Shares of Horizon Therapeutics gained 0.3% to settle at $113.80 on Friday and lost 0.4% in after-hours trading.

Check This Out: Investor Fear Eases Slightly On Last Trading Day Of 2022