Investors interested in Medical stocks should always be looking to find the best-performing companies in the group. Is Aura Biosciences, Inc. (AURA) 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.
Aura Biosciences, Inc. is one of 924 companies in the Medical group. The Medical group currently sits at #10 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 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. Aura Biosciences, Inc. is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for AURA's full-year earnings has moved 2.7% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the latest available data, AURA has gained about 20.7% so far this year. Meanwhile, the Medical sector has returned an average of -5.6% on a year-to-date basis. This means that Aura Biosciences, Inc. is performing better than its sector in terms of year-to-date returns.
Another stock in the Medical sector, Elicio Therapeutics (ELTX), has outperformed the sector so far this year. The stock's year-to-date return is 50.5%.
In Elicio Therapeutics' case, the consensus EPS estimate for the current year increased 1.2% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Aura Biosciences, Inc. belongs to the Medical - Biomedical and Genetics industry, which includes 444 individual stocks and currently sits at #144 in the Zacks Industry Rank. This group has gained an average of 1.7% so far this year, so AURA is performing better in this area. Elicio Therapeutics is also part of the same industry.
Going forward, investors interested in Medical stocks should continue to pay close attention to Aura Biosciences, Inc. and Elicio Therapeutics as they could maintain their solid performance.
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This article originally published on Zacks Investment Research (zacks.com).