The Medical group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Cabaletta Bio, Inc. (CABA) 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? 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.
Cabaletta Bio, Inc. is a member of the Medical sector. This group includes 884 individual stocks and currently holds a Zacks Sector Rank of #4. 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 model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. Cabaletta Bio, Inc. is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for CABA's full-year earnings has moved 18.9% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the latest available data, CABA has gained about 49.3% so far this year. Meanwhile, stocks in the Medical group have lost about 7.1% on average. This means that Cabaletta Bio, Inc. is performing better than its sector in terms of year-to-date returns.
One other Medical stock that has outperformed the sector so far this year is Curaleaf Holdings, Inc. (CURLF). The stock is up 27.8% year-to-date.
Over the past three months, Curaleaf Holdings, Inc.'s consensus EPS estimate for the current year has increased 47.9%. The stock currently has a Zacks Rank #2 (Buy).
Breaking things down more, Cabaletta Bio, Inc. is a member of the Medical - Biomedical and Genetics industry, which includes 430 individual companies and currently sits at #136 in the Zacks Industry Rank. Stocks in this group have lost about 2.8% so far this year, so CABA is performing better this group in terms of year-to-date returns.
Curaleaf Holdings, Inc., however, belongs to the Medical - Products industry. Currently, this 78-stock industry is ranked #158. The industry has moved -23.2% so far this year.
Investors interested in the Medical sector may want to keep a close eye on Cabaletta Bio, Inc. and Curaleaf Holdings, Inc. as they attempt to continue their solid performance.
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Cabaletta Bio, Inc. (CABA): Free Stock Analysis Report
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This article originally published on Zacks Investment Research (zacks.com).