Key Highlights

  • MBody AI fell 67.56% over the past month to $2.06 as screened on Friday, October 23, 2026.
  • Health Services rose 9.54% over the same month, so the five laggards trailed it by 48 to 77 percentage points (calculated).
  • MBody AI's $250 million shelf is about 7.4 times its roughly $33.95 million market value (calculated).
  • Radiopharm Theranostics cash fell to A$4.1 million at June 30 from A$29.1 million at the end of fiscal 2025.
  • MBody AI's next earnings report is estimated for around November 8, 2026.

Which Health Services Stocks Fell the Most Over the Past Month?

Five small-cap names posted the steepest one-month declines in the sector as screened on Friday, October 23, 2026. MBody AI (NASDAQ:MBAI) fell 67.56% to $2.06 after its merger, reverse split and offerings, INVO Fertility (NASDAQ:IVF) fell 46.55% to $0.5292 with no company announcement in the window, and 20/20 Biolabs (NASDAQ:AIDX) fell 45.96% to $0.254 despite record test revenue. Mobile-health Network Solutions (NASDAQ:MNDR) fell 41.68% to $0.8923 after an AI data center pivot, and Radiopharm Theranostics (NASDAQ:RADX) fell 38.79% to $1.01 as funding needs mounted despite clinical progress. All five trade below $5 and are penny stocks.

Health Services rose 9.54% over the same month, so the declines run against a rising group. Four of the five shares were higher on the day, which shows that the one-month declines did not extend to the latest session.

MBody AI: Why Did Shares Lose 67.56% After the Merger?

No earnings release or contract loss sits inside the window. The company, formerly Check-Cap, announced a 1-for-7 reverse split on August 7, priced a $10 million offering on August 26, and closed the merger and offering on August 28. A $250 million mixed securities shelf followed around September 23, and the stock fell 33.12% over the latest week.

The shelf is not a sale and no takedown has been announced, but it is about 7.4 times the roughly $33.95 million market value implied on October 20 (calculated). Trailing twelve-month revenue is about $2.33 million. The next earnings report is estimated for around November 8, 2026. A research firm initiated coverage around September 28 with a $10 price target, cited as a data point only, and the shares kept falling through October.

INVO Fertility: What Explains a 46.55% Drop After a Summer Surge?

No company announcement between September 23 and October 23 explains the decline, and the only release was an investor conference on September 25. The stock rose sharply after second-quarter results on August 17, when revenue grew 17%, and has since been giving ground. Trailing twelve-month revenue has reached about $7.53 million, up 13.8%.

Market value is about $2.54 million on roughly 4.77 million shares, against a trailing net loss near $8.76 million. The company has disclosed Nasdaq delinquency notices tied to late reports, and a price below $1 also falls under the minimum bid threshold, so a bid-price notice would be the next compliance item.

20/20 Biolabs: Why Did Shares Fall 45.96% Despite Record Test Revenue?

The company reported record quarterly revenue from its multi-cancer test on August 17, yet the shares fell through a run of investor webinars and conferences in early October. No financing, reverse split or compliance notice appears in its releases for the period.

Market value of about $3.45 million is below the $4.2 million cash figure from March (calculated comparison), against a trailing net loss near $7.12 million, so the market is attaching little value beyond cash and pricing in possible dilution. A bid-price notice is a further item to watch. Nasdaq requires a $1.00 minimum bid.

Mobile-health Network Solutions: Why Is It Down 41.68% After the Data Center Pivot?

The company announced nothing between September 23 and October 23, and its last announcements were on July 27 and August 10. Since March it has moved from telehealth toward AI infrastructure, including a $126 million investment in a phased 60 MW campus announced on April 28, a $119 million non-binding framework and a reverse split effective June 25. The company is a Singapore-focused telehealth group built around its MaNaDr platform.

Market value was about $2.11 million, so the announced $126 million investment is roughly 60 times the equity (calculated). Fiscal 2025 revenue fell 45.26% to $7.65 million, trailing twelve-month revenue is $7.32 million, and the market has not capitalised the non-binding arrangements.

Radiopharm Theranostics: Why Did It Lose 38.79% Despite an FDA Meeting?

The company reported positive Phase 2b results for its RAD101 brain imaging agent in July, with 93% concordance with MRI, and completed an End-of-Phase 2 meeting with the FDA in early October. A Phase 3 trial of 150 to 200 subjects is planned.

Capital needs are the more likely pressure. Cash fell to A$4.1 million at June 30 from A$29.1 million, a drop of about 86% (calculated), after fiscal 2026 cash burn of A$58.0 million. A July offering and placement were followed by a September 14 registration statement, and market value was about $11.8 million. The pipeline also includes RAD202 for HER-2 breast cancer and RAD204 for PD-L1 non-small cell lung cancer.

Health Services Laggards Compared: How Deep Are the Gaps to the Sector?

Against the sector's 9.54% gain, the shortfall (calculated) was 77.10 percentage points for MBody AI, 56.09 for INVO Fertility, 55.50 for 20/20 Biolabs, 51.22 for Mobile-health Network Solutions and 48.33 for Radiopharm Theranostics. The five average a 48.11% decline, 57.65 points below the sector, and the spread from the deepest to the shallowest fall is 28.77 points.

Equity values are small beside announced plans: about $2.11 million for Mobile-health against a $126 million investment, and about $3.45 million for 20/20 Biolabs against $4.2 million of cash in March. The week was also uneven, with MBody AI down 33.12% and Radiopharm Theranostics down only 0.98%.

What to Watch Next: Earnings, Shelf Use and Funding Updates

MBody AI's next earnings report is estimated for around November 8, 2026, with cash after the August offering and any use of the $250 million shelf in focus. INVO Fertility and 20/20 Biolabs have quarterly reports ahead, along with possible Nasdaq bid notices. Mobile-health needs definitive financing for its data center plans, and Radiopharm Theranostics has RAD202 Phase 1 data expected in the fourth quarter and any pricing from its registration.