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Is Adaptive Biotechnologies (ADPT) Stock Outpacing Its Medical Peers This Year?
The Medical group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Adaptive Biotechnologies (ADPT - Free Report) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? A quick glance at the company's year-to-date performance in comparison to the rest of the Medical sector should help us answer this question.
Adaptive Biotechnologies is a member of the Medical sector. This group includes 1174 individual stocks and currently holds a Zacks Sector Rank of #6. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.
The Zacks Rank is a proven model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. Adaptive Biotechnologies is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for ADPT's full-year earnings has moved 3.8% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
According to our latest data, ADPT has moved about 24.4% on a year-to-date basis. In comparison, Medical companies have returned an average of -1.5%. This shows that Adaptive Biotechnologies is outperforming its peers so far this year.
Geron (GERN - Free Report) is another Medical stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 16.1%.
Over the past three months, Geron's consensus EPS estimate for the current year has increased 7.2%. The stock currently has a Zacks Rank #2 (Buy).
To break things down more, Adaptive Biotechnologies belongs to the Medical - Biomedical and Genetics industry, a group that includes 557 individual companies and currently sits at #93 in the Zacks Industry Rank. Stocks in this group have lost about 1.1% so far this year, so ADPT is performing better this group in terms of year-to-date returns. Geron is also part of the same industry.
Investors with an interest in Medical stocks should continue to track Adaptive Biotechnologies and Geron. These stocks will be looking to continue their solid performance.