D-Wave Quantum Inc. (NYSE:QBTS) CFO John M. Markovich Sells 5,582 Shares of Stock

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

D-Wave Quantum Stock Performance

D-Wave Quantum stock opened at $5.58 on Tuesday. The business’s fifty day moving average is $5.65 and its two-hundred day moving average is $2.67. The firm has a market cap of $1.50 billion, a P/E ratio of -13.27 and a beta of 1.16. D-Wave Quantum Inc. has a 52 week low of $0.75 and a 52 week high of $11.41.

Wall Street Analyst Weigh In

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Penserra Capital Management LLC increased its position in D-Wave Quantum by 23.0% in the 3rd quarter. Penserra Capital Management LLC now owns 4,485,777 shares of the company’s stock valued at $4,409,000 after acquiring an additional 839,942 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of D-Wave Quantum by 33.8% during the third quarter. Geode Capital Management LLC now owns 2,555,927 shares of the company’s stock valued at $2,513,000 after purchasing an additional 645,039 shares during the last quarter. Marshall Wace LLP acquired a new stake in shares of D-Wave Quantum in the second quarter valued at approximately $265,000. Squarepoint Ops LLC bought a new position in D-Wave Quantum in the 2nd quarter worth approximately $163,000. Finally, XTX Topco Ltd bought a new stake in shares of D-Wave Quantum during the second quarter worth $163,000. Institutional investors and hedge funds own 42.47% of the company’s stock.

About D-Wave Quantum

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.