The Medical group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Is Adicet Bio, Inc. (ACET) 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.
Adicet Bio, Inc. is a member of our Medical group, which includes 884 different companies and currently sits at #5 in 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 emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. Adicet Bio, Inc. is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for ACET's full-year earnings has moved 16.1% higher within the past quarter. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
According to our latest data, ACET has moved about 1% on a year-to-date basis. In comparison, Medical companies have returned an average of -5.8%. This shows that Adicet Bio, Inc. is outperforming its peers so far this year.
One other Medical stock that has outperformed the sector so far this year is Biodesix, Inc. (BDSX). The stock is up 117.8% year-to-date.
Over the past three months, Biodesix, Inc.'s consensus EPS estimate for the current year has increased 17.4%. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Adicet Bio, Inc. belongs to the Medical - Biomedical and Genetics industry, a group that includes 430 individual stocks and currently sits at #107 in the Zacks Industry Rank. On average, this group has lost an average of 0.4% so far this year, meaning that ACET is performing better in terms of year-to-date returns.
Biodesix, Inc., however, belongs to the Medical Services industry. Currently, this 62-stock industry is ranked #79. The industry has moved -11.2% so far this year.
Adicet Bio, Inc. and Biodesix, Inc. could continue their solid performance, so investors interested in Medical stocks should continue to pay close attention to these stocks.
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Adicet Bio, Inc. (ACET): Free Stock Analysis Report
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This article originally published on Zacks Investment Research (zacks.com).