Is Adverum Biotechnologies Stock Outpacing Its Medical Peers This Year?

The Medical group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Has Adverum Biotechnologies ADVM been one of those stocks this year? 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.

Adverum Biotechnologies is one of 1025 individual stocks in the Medical sector. Collectively, these companies sit at #4 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 proven system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. Adverum Biotechnologies is currently sporting a Zacks Rank of #2 (Buy).

Within the past quarter, the Zacks Consensus Estimate for ADVM's full-year earnings has moved 2.2% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.

Our latest available data shows that ADVM has returned about 16.6% since the start of the calendar year. Meanwhile, stocks in the Medical group have gained about 8.1% on average. This shows that Adverum Biotechnologies is outperforming its peers so far this year.

Another Medical stock, which has outperformed the sector so far this year, is Medpace MEDP. The stock has returned 42.6% year-to-date.

For Medpace, the consensus EPS estimate for the current year has increased 7.2% over the past three months. The stock currently has a Zacks Rank #2 (Buy).

Breaking things down more, Adverum Biotechnologies is a member of the Medical - Biomedical and Genetics industry, which includes 500 individual companies and currently sits at #70 in the Zacks Industry Rank. On average, stocks in this group have gained 0.5% this year, meaning that ADVM is performing better in terms of year-to-date returns.

On the other hand, Medpace belongs to the Medical Services industry. This 57-stock industry is currently ranked #67. The industry has moved +6% year to date.

Adverum Biotechnologies and Medpace could continue their solid performance, so investors interested in Medical stocks should continue to pay close attention to these stocks.

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