Oscar Health, Inc. (OSCR) is showing signs of recovery in pre-market trading, with shares soaring 5.11% following a steep 19% drop in the previous session. The healthcare technology company's stock is attracting renewed investor interest after Wednesday's selloff, which was triggered by a negative analyst rating.

The initial plunge came after Barclays initiated coverage of Oscar Health with an underweight rating and a price target of $17. This bearish outlook sparked a significant sell-off, contributing to a broader decline in health insurance stocks amid sector-wide concerns. The negative sentiment from Barclays highlighted potential challenges facing the company and the overall health insurance industry.

However, the current pre-market rebound suggests that some investors may view the stock as oversold following the sharp decline. Market participants appear to be reassessing Oscar Health's value proposition at the lower price point, potentially seeing an opportunity for gains. Despite this positive pre-market movement, it's important to note that Oscar Health still faces headwinds, including the recent negative analyst sentiment and broader challenges in the health insurance sector. Investors will likely be watching closely to see if this early morning recovery can be sustained throughout the trading day.