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Are Medical Stocks Lagging Adverum Biotechnologies (ADVM) 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 one of 1054 individual stocks in the Medical sector. Collectively, these companies sit at #4 in the Zacks Sector Rank. 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 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. Adverum Biotechnologies is currently sporting a Zacks Rank of #2 (Buy).

Over the past three months, the Zacks Consensus Estimate for ADVM's full-year earnings has moved 36.5% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.

Based on the most recent data, ADVM has returned 77.3% so far this year. At the same time, Medical stocks have gained an average of 5.9%. As we can see, Adverum Biotechnologies is performing better than its sector in the calendar year.

One other Medical stock that has outperformed the sector so far this year is Cigna (CI - Free Report) . The stock is up 20.6% year-to-date.

The consensus estimate for Cigna's current year EPS has increased 0.1% over the past three months. The stock currently has a Zacks Rank #2 (Buy).

Looking more specifically, Adverum Biotechnologies belongs to the Medical - Biomedical and Genetics industry, which includes 508 individual stocks and currently sits at #73 in the Zacks Industry Rank. On average, stocks in this group have lost 0.7% this year, meaning that ADVM is performing better in terms of year-to-date returns.

On the other hand, Cigna belongs to the Medical - HMOs industry. This 8-stock industry is currently ranked #197. The industry has moved -8.8% year to date.

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

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