Investors focused on the Medical space have likely heard of Aduro Biotech (ADRO), but is the stock performing well in comparison to the rest of its sector peers? One simple way to answer this question is to take a look at the year-to-date performance of ADRO and the rest of the Medical group's stocks.
Aduro Biotech is one of 899 individual stocks in the Medical sector. Collectively, these companies sit at #3 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. ADRO is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past three months, the Zacks Consensus Estimate for ADRO's full-year earnings has moved 2.53% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the most recent data, ADRO has returned 151.70% so far this year. Meanwhile, stocks in the Medical group have lost about 6.68% on average. This shows that Aduro Biotech is outperforming its peers so far this year.
Breaking things down more, ADRO is a member of the Medical - Biomedical and Genetics industry, which includes 385 individual companies and currently sits at #103 in the Zacks Industry Rank. On average, this group has lost an average of 4.60% so far this year, meaning that ADRO is performing better in terms of year-to-date returns.
Investors with an interest in Medical stocks should continue to track ADRO. The stock will be looking to continue its solid performance.