Novavax (NVAX) Stock Sinks As Market Gains: What You Should Know

In the latest trading session, Novavax (NVAX) closed at $13.86, marking a -1.21% move from the previous day. This change lagged the S&P 500's 2.28% gain on the day. Elsewhere, the Dow gained 2.24%, while the tech-heavy Nasdaq added 1.72%.

Heading into today, shares of the vaccine maker had gained 23.94% over the past month, outpacing the Medical sector's loss of 8.8% and the S&P 500's loss of 16.08% in that time.

NVAX will be looking to display strength as it nears its next earnings release. On that day, NVAX is projected to report earnings of -$0.65 per share, which would represent year-over-year growth of 70.45%. Meanwhile, our latest consensus estimate is calling for revenue of $3.50 million, down 12.06% from the prior-year quarter.

For the full year, our Zacks Consensus Estimates are projecting earnings of -$2.47 per share and revenue of $10.80 million, which would represent changes of +55.17% and -42.13%, respectively, from the prior year.

Any recent changes to analyst estimates for NVAX should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-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 shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.

Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 22.71% higher. NVAX is currently sporting a Zacks Rank of #3 (Hold).

The Medical - Biomedical and Genetics industry is part of the Medical sector. This group has a Zacks Industry Rank of 33, putting it in the top 13% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

You can find more information on all of these metrics, and much more, on Zacks.com.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.