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Has Adverum Biotechnologies (ADVM) Outpaced Other Medical Stocks This Year?

Zacks Equity Research
·2-min read

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? Let's take a closer look at the stock's year-to-date performance to find out.

Adverum Biotechnologies is a member of the Medical sector. This group includes 889 individual stocks and currently holds a Zacks Sector Rank of #1. 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 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. ADVM 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 4.62% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.

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Based on the most recent data, ADVM has returned 78.47% so far this year. Meanwhile, the Medical sector has returned an average of -1.66% on a year-to-date basis. This means that Adverum Biotechnologies is performing better than its sector in terms of year-to-date returns.

Looking more specifically, ADVM belongs to the Medical - Biomedical and Genetics industry, which includes 382 individual stocks and currently sits at #16 in the Zacks Industry Rank. This group has gained an average of 8.25% so far this year, so ADVM is performing better in this area.

ADVM will likely be looking to continue its solid performance, so investors interested in Medical stocks should continue to pay close attention to the company.


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Zacks Investment Research