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? Let's take a closer look at the stock's year-to-date performance to find out.
Aduro Biotech is one of 896 companies in the Medical group. The Medical group currently sits at #1 within 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 system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. ADRO is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for ADRO's full-year earnings has moved 17.25% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
According to our latest data, ADRO has moved about 132.20% on a year-to-date basis. Meanwhile, the Medical sector has returned an average of -12.78% on a year-to-date basis. This means that Aduro Biotech is performing better than its sector in terms of year-to-date returns.
Looking more specifically, ADRO belongs to the Medical - Biomedical and Genetics industry, which includes 385 individual stocks and currently sits at #37 in the Zacks Industry Rank. On average, this group has lost an average of 7.55% so far this year, meaning that ADRO is performing better in terms of year-to-date returns.
Investors in the Medical sector will want to keep a close eye on ADRO as it attempts to continue its solid performance.