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Investors focused on the Medical space have likely heard of Aduro Biotech (ADRO), but is the stock performing well in comparison to the rest of its sector peers? 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.
Aduro Biotech is one of 899 companies in the Medical group. The Medical group currently sits at #2 within 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 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. ADRO is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for ADRO's full-year earnings has moved 19.52% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the latest available data, ADRO has gained about 116.95% so far this year. In comparison, Medical companies have returned an average of -12.34%. As we can see, Aduro Biotech is performing better than its sector in the calendar year.
Breaking things down more, ADRO is a member of the Medical - Biomedical and Genetics industry, which includes 385 individual companies and currently sits at #88 in the Zacks Industry Rank. On average, this group has lost an average of 11.66% so far this year, meaning that ADRO is performing better in terms of year-to-date returns.
Investors with an interest in Medical stocks should continue to track ADRO. The stock will be looking to continue its solid performance.
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