Investors focused on the Medical space have likely heard of Aduro Biotech , 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 a member of our Medical group, which includes 889 different companies and currently sits at #1 in the Zacks Sector Rank. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.
The Zacks Rank is a successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. ADRO is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for ADRO's full-year earnings has moved 10.62% 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 175.42% on a year-to-date basis. Meanwhile, the Medical sector has returned an average of -1.66% on a year-to-date basis. This means that Aduro Biotech is performing better than its sector in terms of year-to-date returns.
To break things down more, ADRO belongs to the Medical - Biomedical and Genetics industry, a group that includes 382 individual companies and currently sits at #16 in the Zacks Industry Rank. Stocks in this group have gained about 8.25% so far this year, so ADRO is performing better this group in terms of year-to-date returns.
Going forward, investors interested in Medical stocks should continue to pay close attention to ADRO as it looks to continue its solid performance.