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.

Tevogen Bio Holdings Inc. (NASDAQ:TVGN)

• On May 1, Tevogen Bio announced full year 2023 financial results and upcoming operational objectives. The company's stock fell around 64% over the past month and has a 52-week low of $0.8030 .
• RSI Value: 19.57
• TVGN Price Action: Shares of Tevogen Bio fell 1% to close at $0.96 on Monday.

Enovis Corporation (NYSE:ENOV)         

• On May 2, Enovis posted better-than-expected quarterly earnings. “We had a great start to 2024, with both revenues and operating margins exceeding expectations,” said Matt Trerotola, Chief Executive Officer of Enovis. “Our acquisition of Lima is a transformative milestone and reinforces our ability to innovate and take incremental market share in the global orthopedic market. The integration is progressing according to plan and we remain in the early stages of a multi-year cadence of new product introductions across Recon and P&R.” The company's stock fell around 17% over the past month. It has a 52-week low of $43.04.
• RSI Value: 25.09
• ENOV Price Action: Shares of Enovis fell 0.7% to close at $50.92 on Monday.

GRI Bio, Inc. (NASDAQ:GRI)

• On April 1, GRI Bio reported a FY23 net loss of $13.0 million. “Over the past several months we’ve achieved significant regulatory and clinical milestones while adding $5.5 million to the balance sheet, paving the way for an exciting 2024 marked by key data readouts. Our Phase 2a biomarker study for GRI-0621 in IPF is gaining momentum and with interim and topline data expected this year, we believe we have the potential to unlock substantial value for all stakeholders,” commented Marc Hertz, PhD, Chief Executive Officer of GRI Bio. The company's shares fell around 25% over the past month and has a 52-week low of $0.40.
• RSI Value: 25.57
• GRI Price Action: Shares of GRI Bio rose 0.5% to close at $0.4171 on Monday.

Bristol-Myers Squibb Company (NYSE:BMY)

• On May 6, the U.S. Food and Drug Administration accepted the company's application for subcutaneous nivolumab (nivolumab and hyaluronidase). The company's shares lost around 14% over the past month. The company's 52-week low is $43.33.
• RSI Value: 25.22
• BMY Price Action: Shares of Bristol-Myers Squibb fell 0.2% to close at $43.90 on Monday.

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