Novavax (NVAX) closed the latest trading day at $10.07, indicating a -1.76% change from the previous session's end. The stock fell short of the S&P 500, which registered a gain of 0.16% for the day. At the same time, the Dow lost 0.37%, and the tech-heavy Nasdaq gained 0.78%.

Shares of the vaccine maker have depreciated by 18.84% over the course of the past month, underperforming the Medical sector's loss of 4.09% and the S&P 500's gain of 1.67%.

Investors will be eagerly watching for the performance of Novavax in its upcoming earnings disclosure. The company is expected to report EPS of -$0.87, up 30.95% from the prior-year quarter. At the same time, our most recent consensus estimate is projecting a revenue of $57.32 million, reflecting a 69.34% fall from the equivalent quarter last year.

For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of -$0.90 per share and a revenue of $773 million, representing changes of +83.36% and -21.42%, respectively, from the prior year.

It's also important for investors to be aware of any recent modifications to analyst estimates for Novavax. Such recent modifications usually signify the changing landscape of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.

Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.

The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 12.88% higher. Novavax currently has a Zacks Rank of #2 (Buy).

The Medical - Biomedical and Genetics industry is part of the Medical sector. With its current Zacks Industry Rank of 74, this industry ranks in the top 30% of all industries, numbering over 250.

The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.