Technical indicators for health tech company’s shares appear to be improving.
Known for services like the RealAge test and AskMD, Sharecare SHCR, has seen its shares slide 21% since the IPO in July, which Jim Cramer says could be a possible opportunity.
Jeff Arnold, co-founder, chairman and CEO of Sharecare told Cramer on “Mad Money” that over 50 million people have taken their health risk assessment, which pairs responses with artificial intelligence to build a digital twin that can estimate the cost of care and likely outcomes for various procedures.
Over on Real Money, Bruce Kamich discussed why he is bullish on Sharecare and at what price. “Prices have firmed enough to turn the slope of the 50-day moving average line positive,” Kamich noted.
The company’s in-home care network includes over 450,000 caregivers. The AskMD mobile and web application offers a personalized, evidence-based platform that uses pattern recognition software to delve into patient complaints.
Cramer said the share price is way below what anyone expected and is worth a look by investors.
Arnold said Sharecare’s mission is to improve the lives of its members. The company does this through four pillars: health assessments, digital therapeutics, healthcare management and an in-home caregiving network.
Arnold noted Sharecare is also using its platform to help get patients into clinical trials so they can help collect the data needed to bring cures to market faster. Arnold founded Sharecare in 2012 to help fix fragmentation in health. The co-founder of Sharecare was “America’s Doctor” Dr. Mehmet Oz.