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Are Medical Stocks Lagging Adicet Bio (ACET) This Year?
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For those looking to find strong Medical stocks, it is prudent to search for companies in the group that are outperforming their peers. Adicet Bio, Inc. (ACET - 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? By taking a look at the stock's year-to-date performance in comparison to its Medical peers, we might be able to answer that question.
Adicet Bio, Inc. is a member of the Medical sector. This group includes 1077 individual stocks and currently holds a Zacks Sector Rank of #4. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.
The Zacks Rank emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. Adicet Bio, Inc. is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for ACET's full-year earnings has moved 4.3% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the latest available data, ACET has gained about 30.2% so far this year. In comparison, Medical companies have returned an average of 0%. This means that Adicet Bio, Inc. is performing better than its sector in terms of year-to-date returns.
One other Medical stock that has outperformed the sector so far this year is Aurora Cannabis Inc. (ACB - Free Report) . The stock is up 0.3% year-to-date.
For Aurora Cannabis Inc. the consensus EPS estimate for the current year has increased 42.4% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Breaking things down more, Adicet Bio, Inc. is a member of the Medical - Biomedical and Genetics industry, which includes 523 individual companies and currently sits at #66 in the Zacks Industry Rank. On average, this group has lost an average of 11% so far this year, meaning that ACET is performing better in terms of year-to-date returns.
In contrast, Aurora Cannabis Inc. falls under the Medical - Products industry. Currently, this industry has 96 stocks and is ranked #168. Since the beginning of the year, the industry has moved +3.7%.
Adicet Bio, Inc. and Aurora Cannabis Inc. could continue their solid performance, so investors interested in Medical stocks should continue to pay close attention to these stocks.
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Are Medical Stocks Lagging Adicet Bio (ACET) This Year?
For those looking to find strong Medical stocks, it is prudent to search for companies in the group that are outperforming their peers. Adicet Bio, Inc. (ACET - 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? By taking a look at the stock's year-to-date performance in comparison to its Medical peers, we might be able to answer that question.
Adicet Bio, Inc. is a member of the Medical sector. This group includes 1077 individual stocks and currently holds a Zacks Sector Rank of #4. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.
The Zacks Rank emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. Adicet Bio, Inc. is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for ACET's full-year earnings has moved 4.3% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the latest available data, ACET has gained about 30.2% so far this year. In comparison, Medical companies have returned an average of 0%. This means that Adicet Bio, Inc. is performing better than its sector in terms of year-to-date returns.
One other Medical stock that has outperformed the sector so far this year is Aurora Cannabis Inc. (ACB - Free Report) . The stock is up 0.3% year-to-date.
For Aurora Cannabis Inc. the consensus EPS estimate for the current year has increased 42.4% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Breaking things down more, Adicet Bio, Inc. is a member of the Medical - Biomedical and Genetics industry, which includes 523 individual companies and currently sits at #66 in the Zacks Industry Rank. On average, this group has lost an average of 11% so far this year, meaning that ACET is performing better in terms of year-to-date returns.
In contrast, Aurora Cannabis Inc. falls under the Medical - Products industry. Currently, this industry has 96 stocks and is ranked #168. Since the beginning of the year, the industry has moved +3.7%.
Adicet Bio, Inc. and Aurora Cannabis Inc. could continue their solid performance, so investors interested in Medical stocks should continue to pay close attention to these stocks.