The Medical group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Cabaletta Bio, Inc. (CABA) 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? 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.
Cabaletta Bio, Inc. is one of 931 individual stocks in the Medical sector. Collectively, these companies sit at #9 in the Zacks Sector Rank. 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. Cabaletta Bio, Inc. is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for CABA's full-year earnings has moved 4.6% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the most recent data, CABA has returned 34.7% so far this year. Meanwhile, the Medical sector has returned an average of 8.1% on a year-to-date basis. This means that Cabaletta Bio, Inc. is outperforming the sector as a whole this year.
Another Medical stock, which has outperformed the sector so far this year, is Celcuity, Inc. (CELC). The stock has returned 14.3% year-to-date.
Over the past three months, Celcuity, Inc.'s consensus EPS estimate for the current year has increased 6.8%. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Cabaletta Bio, Inc. belongs to the Medical - Biomedical and Genetics industry, which includes 452 individual stocks and currently sits at #84 in the Zacks Industry Rank. On average, stocks in this group have gained 21.6% this year, meaning that CABA is performing better in terms of year-to-date returns. Celcuity, Inc. is also part of the same industry.
Going forward, investors interested in Medical stocks should continue to pay close attention to Cabaletta Bio, Inc. and Celcuity, Inc. as they could maintain their solid performance.
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Cabaletta Bio, Inc. (CABA): Free Stock Analysis Report Celcuity, Inc. (CELC): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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