We all know how the stock market started out 2022 with a sudden reversal of last year’s bull run. By the end of February, it was clear that stocks had entered correction territory; the sell-off was broad-based, across all segments of the market.
But is the sell-off over? There are indications that may be the case. Since bottoming out on March 14, the market has staged a strong rebound, and year-to-date is no longer in correction territory. The S&P 500 is up 10% in that period, and the NASDAQ, which had fallen further, has bounced some 15%.
Swings of this nature and magnitude will leave investors with plenty of opportunities – in stocks that are oversold, yet poised to join the bounce.
With this in mind, we scoured the TipRanks database and picked out two names which have been heading south recently, specifically ones which have been flagged by those in the know as oversold. Not to mention substantial upside potential is on the table here. Let’s take a closer look.
Cellectis SA (CLLS)
The first beaten-down stock we’ll look at, Cellectis, is a Paris-based biopharmaceutical company working in the immunotherapy field, seeking new treatments for cancer. Cellectis focuses its efforts on the development of chimeric antigen receptor (CAR) T cells, a mode of attack on cancer that aims to use the patient’s own immune system to fight tumor growth. The company is developing its pipeline through its proprietary gene editing platform, TALEN, with the eventual goal of creating a line of ‘off the shelf’ anti-cancer therapies.
Cellectis is using its TALEN platform to create the UCART line of allogenic product candidates. These CAR T cell drugs are intended to meet multiple needs, giving them an important advantage over other therapies, which must be customer designed to each patient.
The company currently has three wholly controlled clinical programs in progress, each testing a drug candidate in the UCART line. UCART22, the first of these, is the subject of the BALLI-01 clinical trial. This study is evaluating the drug as a treatment for relapsed or refractory B-cell…