Is Caribou Biosciences (CRBU) Stock Outpacing Its Medical Peers This Year?
Investors interested in Medical stocks should always be looking to find the best-performing companies in the group. Is Caribou Biosciences, Inc. (CRBU) one of those stocks right now? 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.
Caribou Biosciences, Inc. is a member of the Medical sector. This group includes 1114 individual stocks and currently holds a Zacks Sector Rank of #7. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.
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. Caribou Biosciences, Inc. is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for CRBU's full-year earnings has moved 18.5% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Our latest available data shows that CRBU has returned about 6.9% since the start of the calendar year. Meanwhile, stocks in the Medical group have lost about 1.9% on average. This means that Caribou Biosciences, Inc. is performing better than its sector in terms of year-to-date returns.
Another stock in the Medical sector, DexCom (DXCM), has outperformed the sector so far this year. The stock's year-to-date return is 2.2%.
Over the past three months, DexCom's consensus EPS estimate for the current year has increased 12.7%. The stock currently has a Zacks Rank #2 (Buy).
Breaking things down more, Caribou Biosciences, Inc. is a member of the Medical - Biomedical and Genetics industry, which includes 535 individual companies and currently sits at #98 in the Zacks Industry Rank. On average, stocks in this group have lost 11.7% this year, meaning that CRBU is performing better in terms of year-to-date returns.
DexCom, however, belongs to the Medical - Instruments industry. Currently, this 96-stock industry is ranked #104. The industry has moved +0.2% so far this year.
Caribou Biosciences, Inc. and DexCom could continue their solid performance, so investors interested in Medical stocks should continue to pay close attention to these stocks.
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