Today, Editas Medicine (NASDAQ:EDIT) is set to release its Q3 earnings report, with investors eagerly awaiting the results. The company has projected an earnings per share (EPS) of $-0.57, indicating a potential improvement from the previous year's Q3 loss of $0.810 per share. This follows a positive performance in Q2 2023, where the EPS estimate was surpassed by $0.20, and the EPS reached $-0.56, causing a 1.86% increase in share price.
Despite this optimistic projection for Q3, the overall trend for Editas Medicine's stock has been less than favorable over the past year. Shares have seen a significant decrease of 38.26%, currently trading at $6.9.
Sales for Q3 are expected to reach an impressive $3.7 million, marking a substantial surge of 9150% compared to the same period last year. On an annual basis, the company predicts a loss of $2.464 per share, which would represent a decrease from last year's loss of $3.210 per share.
InvestingPro Insights
Drawing from InvestingPro's real-time data, Editas Medicine's market cap stands at $559.23 million. The company's P/E ratio is at -2.38, indicating that it is not yet profitable. Over the last week, the company’s stock has seen a significant return of 12.3%.
InvestingPro Tips suggest that while Editas Medicine holds more cash than debt on its balance sheet, it's quickly burning through its cash. This is consistent with the company's negative profit margins and the fact that it has not been profitable over the last twelve months.
For those seeking more comprehensive insights, InvestingPro offers a wealth of additional tips and data points tailored to individual companies. In the case of Editas Medicine, seven more tips are available to help investors make informed decisions.
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