Is Arcellx (ACLX) 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. Arcellx, Inc. (ACLX) 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.
Arcellx, Inc. is one of 1092 individual stocks in the Medical sector. Collectively, these companies sit at #6 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 emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. Arcellx, Inc. is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for ACLX's full-year earnings has moved 2.7% higher within the past quarter. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Our latest available data shows that ACLX has returned about 9.9% since the start of the calendar year. At the same time, Medical stocks have lost an average of 6.5%. This shows that Arcellx, Inc. is outperforming its peers so far this year.
One other Medical stock that has outperformed the sector so far this year is BellRing Brands (BRBR). The stock is up 73% year-to-date.
For BellRing Brands, the consensus EPS estimate for the current year has increased 2% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Arcellx, Inc. belongs to the Medical - Biomedical and Genetics industry, which includes 529 individual stocks and currently sits at #86 in the Zacks Industry Rank. This group has lost an average of 17.5% so far this year, so ACLX is performing better in this area.
On the other hand, BellRing Brands belongs to the Medical - Products industry. This 94-stock industry is currently ranked #145. The industry has moved -11.8% year to date.
Investors with an interest in Medical stocks should continue to track Arcellx, Inc. and BellRing Brands. These stocks will be looking to continue their solid performance.
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