Is ALX Oncology Holdings (ALXO) Outperforming Other Medical Stocks This Year?

For those looking to find strong Medical stocks, it is prudent to search for companies in the group that are outperforming their peers. ALX Oncology Holdings Inc. (ALXO) 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? Let's take a closer look at the stock's year-to-date performance to find out.ALX Oncology Holdings Inc. is one of 1011 individual stocks in the Medical sector. Collectively, these companies sit at #2 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 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. ALX Oncology Holdings Inc. is currently sporting a Zacks Rank of #2 (Buy).Over the past three months, the Zacks Consensus Estimate for ALXO's full-year earnings has moved 11.1% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.Based on the most recent data, ALXO has returned 7.2% so far this year. Meanwhile, the Medical sector has returned an average of -4.9% on a year-to-date basis. This means that ALX Oncology Holdings Inc. is outperforming the sector as a whole this year.Another stock in the Medical sector, Ginkgo Bioworks Holdings, Inc. (DNA), has outperformed the sector so far this year. The stock's year-to-date return is 18.6%.In Ginkgo Bioworks Holdings, Inc.'s case, the consensus EPS estimate for the current year increased 12% over the past three months. The stock currently has a Zacks Rank #2 (Buy).Looking more specifically, ALX Oncology Holdings Inc. belongs to the Medical - Biomedical and Genetics industry, a group that includes 513 individual stocks and currently sits at #66 in the Zacks Industry Rank. This group has lost an average of 12.7% so far this year, so ALXO is performing better in this area. Ginkgo Bioworks Holdings, Inc. is also part of the same industry.Investors with an interest in Medical stocks should continue to track ALX Oncology Holdings Inc. and Ginkgo Bioworks Holdings, Inc. These stocks will be looking to continue their solid performance.5 Stocks Set to DoubleEach was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2024. While not all picks can be winners, previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%.Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.Today, See These 5 Potential Home Runs >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report ALX Oncology Holdings Inc. (ALXO): Free Stock Analysis Report Ginkgo Bioworks Holdings, Inc. (DNA): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks