Insider Selling: D-Wave Quantum Inc. (NYSE:QBTS) CFO Sells 5,582 Shares of Stock

D-Wave Quantum Inc. (NYSE:QBTS) CFO John M. Markovich sold 5,582 shares of the business’s stock in a transaction on Thursday, January 23rd. The shares were sold at an average price of $5.27, for a total transaction of $29,417.14. Following the completion of the transaction, the chief financial officer now directly owns 1,064,556 shares in the company, valued at $5,610,210.12. This represents a 0.52 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

D-Wave Quantum Trading Down 4.0 %

D-Wave Quantum stock opened at $5.51 on Thursday. The firm’s 50-day simple moving average is $5.82 and its 200 day simple moving average is $2.73. D-Wave Quantum Inc. has a 52 week low of $0.75 and a 52 week high of $11.41.

Analysts Set New Price Targets

Several research firms recently issued reports on QBTS. Needham & Company LLC reissued a “buy” rating and set a $2.25 price target on shares of D-Wave Quantum in a report on Friday, November 15th. Craig Hallum raised their price target on D-Wave Quantum from $2.50 to $9.00 and gave the company a “buy” rating in a report on Friday, December 20th. B. Riley increased their price objective on D-Wave Quantum from $4.50 to $9.00 and gave the stock a “buy” rating in a research report on Tuesday, January 14th. Roth Mkm boosted their target price on shares of D-Wave Quantum from $3.00 to $7.00 and gave the stock a “buy” rating in a research report on Thursday, December 12th. Finally, Benchmark reiterated a “buy” rating and issued a $8.00 price target on shares of D-Wave Quantum in a report on Tuesday, January 14th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $6.38.

Institutional Trading of D-Wave Quantum

Several large investors have recently modified their holdings of the business. Rhumbline Advisers acquired a new position in shares of D-Wave Quantum during the 2nd quarter worth approximately $93,000. XTX Topco Ltd acquired a new position in shares of D-Wave Quantum in the second quarter worth $163,000. Marshall Wace LLP purchased a new stake in shares of D-Wave Quantum in the second quarter valued at $265,000. Squarepoint Ops LLC purchased a new stake in D-Wave Quantum during the 2nd quarter worth about $163,000. Finally, SG Americas Securities LLC acquired a new position in D-Wave Quantum in the 3rd quarter valued at about $42,000. 42.47% of the stock is currently owned by institutional investors and hedge funds.

D-Wave Quantum Company Profile

D-Wave Quantum Inc develops and delivers quantum computing systems, software, and services worldwide. The company offers Advantage, a fifth-generation quantum computer; Ocean, a suite of open-source python tools; and Leap, a cloud-based service that provides real-time access to a live quantum computer, as well as access to Advantage, hybrid solvers, the Ocean software development kit, live code, demos, learning resources, and a vibrant developer community.