Investors interested in Medical stocks should always be looking to find the best-performing companies in the group. C4 Therapeutics, Inc. (CCCC) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? Let's take a closer look at the stock's year-to-date performance to find out.
C4 Therapeutics, Inc. is one of 916 individual stocks in the Medical sector. Collectively, these companies sit at #9 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 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. C4 Therapeutics, Inc. is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for CCCC's full-year earnings has moved 1.7% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Our latest available data shows that CCCC has returned about 73.3% since the start of the calendar year. Meanwhile, stocks in the Medical group have gained about 2.9% on average. This means that C4 Therapeutics, Inc. is outperforming the sector as a whole this year.
One other Medical stock that has outperformed the sector so far this year is MacroGenics (MGNX). The stock is up 155.9% year-to-date.
For MacroGenics, the consensus EPS estimate for the current year has increased 50.6% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, C4 Therapeutics, Inc. belongs to the Medical - Biomedical and Genetics industry, a group that includes 437 individual stocks and currently sits at #172 in the Zacks Industry Rank. This group has gained an average of 8.5% so far this year, so CCCC is performing better in this area.
On the other hand, MacroGenics belongs to the Medical - Products industry. This 86-stock industry is currently ranked #96. The industry has moved -20.7% year to date.
Going forward, investors interested in Medical stocks should continue to pay close attention to C4 Therapeutics, Inc. and MacroGenics as they could maintain their solid performance.
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This article originally published on Zacks Investment Research (zacks.com).