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Is Adverum Biotechnologies (ADVM) Stock Outpacing Its Medical Peers 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. Has Adverum Biotechnologies (ADVM - Free Report) been one of those stocks this year? 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.

Adverum Biotechnologies is a member of the Medical sector. This group includes 1063 individual stocks and currently holds a Zacks Sector Rank of #4. 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 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. Adverum Biotechnologies is currently sporting a Zacks Rank of #2 (Buy).

The Zacks Consensus Estimate for ADVM's full-year earnings has moved 5.2% higher within the past quarter. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.

According to our latest data, ADVM has moved about 135.1% on a year-to-date basis. In comparison, Medical companies have returned an average of 6.6%. This means that Adverum Biotechnologies 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 Arcutis Biotherapeutics, Inc. (ARQT - Free Report) . The stock is up 216.9% year-to-date.

In Arcutis Biotherapeutics, Inc.'s case, the consensus EPS estimate for the current year increased 6.2% over the past three months. The stock currently has a Zacks Rank #2 (Buy).

To break things down more, Adverum Biotechnologies belongs to the Medical - Biomedical and Genetics industry, a group that includes 512 individual companies and currently sits at #90 in the Zacks Industry Rank. On average, this group has lost an average of 0.9% so far this year, meaning that ADVM is performing better in terms of year-to-date returns. Arcutis Biotherapeutics, Inc. is also part of the same industry.

Investors with an interest in Medical stocks should continue to track Adverum Biotechnologies and Arcutis Biotherapeutics, Inc. These stocks will be looking to continue their solid performance.

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Adverum Biotechnologies, Inc. (ADVM) - free report >>

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