Is Adicet Bio (ACET) Stock Outpacing Its Medical Peers This Year?

For those looking to find strong Medical stocks, it is prudent to search for companies in the group that are outperforming their peers. Has Adicet Bio, Inc. (ACET) been one of those stocks this year? By taking a look at the stock's year-to-date performance in comparison to its Medical peers, we might be able to answer that question.

Adicet Bio, Inc. is a member of our Medical group, which includes 920 different companies and currently sits at #8 in the Zacks Sector Rank. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.

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. Adicet Bio, Inc. is currently sporting a Zacks Rank of #2 (Buy).

Within the past quarter, the Zacks Consensus Estimate for ACET's full-year earnings has moved 16.1% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.

Based on the most recent data, ACET has returned 2.6% so far this year. Meanwhile, the Medical sector has returned an average of 0.8% on a year-to-date basis. As we can see, Adicet Bio, Inc. is performing better than its sector in the calendar year.

Another Medical stock, which has outperformed the sector so far this year, is Biodesix, Inc. (BDSX). The stock has returned 231.6% year-to-date.

Over the past three months, Biodesix, Inc.'s consensus EPS estimate for the current year has increased 19.7%. The stock currently has a Zacks Rank #2 (Buy).

Looking more specifically, Adicet Bio, Inc. belongs to the Medical - Biomedical and Genetics industry, which includes 440 individual stocks and currently sits at #155 in the Zacks Industry Rank. Stocks in this group have gained about 6.2% so far this year, so ACET is slightly underperforming its industry this group in terms of year-to-date returns.

Biodesix, Inc., however, belongs to the Medical Services industry. Currently, this 72-stock industry is ranked #95. The industry has moved -2.3% so far this year.

Investors with an interest in Medical stocks should continue to track Adicet Bio, Inc. and Biodesix, Inc.. These stocks will be looking to continue their solid performance.

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This article originally published on Zacks Investment Research (zacks.com).

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