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Is Ambrx Biopharma Inc. (AMAM) Stock Outpacing Its Medical Peers This Year?

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Investors interested in Medical stocks should always be looking to find the best-performing companies in the group. Has Ambrx Biopharma Inc. been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.

Ambrx Biopharma Inc. is one of 1069 individual stocks in the Medical sector. Collectively, these companies sit at #4 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different sector groups. The average Zacks Rank of the individual stocks within the groups is measured, and the sectors are listed from best to worst.

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. Ambrx Biopharma Inc. is currently sporting a Zacks Rank of #2 (Buy).

Within the past quarter, the Zacks Consensus Estimate for AMAM's full-year earnings has moved 1% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.

Based on the latest available data, AMAM has gained about 95% so far this year. In comparison, Medical companies have returned an average of 6.5%. This shows that Ambrx Biopharma Inc. is outperforming its peers so far this year.

One other Medical stock that has outperformed the sector so far this year is HealthEquity (HQY - Free Report) . The stock is up 22.6% year-to-date.

For HealthEquity, the consensus EPS estimate for the current year has increased 9.7% over the past three months. The stock currently has a Zacks Rank #2 (Buy).

Looking more specifically, Ambrx Biopharma Inc. belongs to the Medical - Biomedical and Genetics industry, which includes 519 individual stocks and currently sits at #94 in the Zacks Industry Rank. This group has gained an average of 0.8% so far this year, so AMAM is performing better in this area.

On the other hand, HealthEquity belongs to the Medical Services industry. This 59-stock industry is currently ranked #106. The industry has moved +5% year to date.

Going forward, investors interested in Medical stocks should continue to pay close attention to Ambrx Biopharma Inc. and HealthEquity as they could maintain their solid performance.

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