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Is Adicet Bio (ACET) Outperforming Other Medical Stocks This Year?

Is Adicet Bio (ACET) Outperforming Other Medical Stocks This Year? · Zacks
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The Medical group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Adicet Bio, Inc. (ACET) 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.

Adicet Bio, Inc. is a member of the Medical sector. This group includes 919 individual stocks and currently holds a Zacks Sector Rank of #9. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.

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

Over the past three months, the Zacks Consensus Estimate for ACET's full-year earnings has moved 21.5% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.

According to our latest data, ACET has moved about 10% on a year-to-date basis. Meanwhile, the Medical sector has returned an average of 5.1% on a year-to-date basis. This shows that Adicet Bio, Inc. is outperforming its peers so far this year.

Another stock in the Medical sector, Centene (CNC), has outperformed the sector so far this year. The stock's year-to-date return is 63.7%.

In Centene's case, the consensus EPS estimate for the current year increased 41.9% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).

Looking more specifically, Adicet Bio, Inc. belongs to the Medical - Biomedical and Genetics industry, a group that includes 440 individual stocks and currently sits at #164 in the Zacks Industry Rank. On average, stocks in this group have gained 11% this year, meaning that ACET is slightly underperforming its industry in terms of year-to-date returns.

In contrast, Centene falls under the Medical - HMOs industry. Currently, this industry has 7 stocks and is ranked #35. Since the beginning of the year, the industry has moved +22.4%.

Investors interested in the Medical sector may want to keep a close eye on Adicet Bio, Inc. and Centene as they attempt to continue their solid performance.

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