Investors interested in Medical stocks should always be looking to find the best-performing companies in the group. Is Adverum Biotechnologies (ADVM - Free Report) one of those stocks right now? A quick glance at the company's year-to-date performance in comparison to the rest of the Medical sector should help us answer this question.
Adverum Biotechnologies is a member of our Medical group, which includes 892 different companies and currently sits at #1 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.
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. ADVM is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for ADVM's full-year earnings has moved 6.47% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the most recent data, ADVM has returned 77.52% so far this year. Meanwhile, stocks in the Medical group have lost about 3.46% on average. This means that Adverum Biotechnologies is performing better than its sector in terms of year-to-date returns.
Looking more specifically, ADVM belongs to the Medical - Biomedical and Genetics industry, which includes 382 individual stocks and currently sits at #11 in the Zacks Industry Rank. Stocks in this group have gained about 3.96% so far this year, so ADVM is performing better this group in terms of year-to-date returns.
Investors with an interest in Medical stocks should continue to track ADVM. The stock will be looking to continue its solid performance.