D-Wave Quantum Inc. (NYSE:QBTS) Director Sells $1,723,865.06 in Stock

D-Wave Quantum Inc. (NYSE:QBTS) Director Roger Biscay sold 96,521 shares of the firm’s stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $17.86, for a total transaction of $1,723,865.06. Following the transaction, the director now owns 106,626 shares of the company’s stock, valued at approximately $1,904,340.36. This trade represents a 47.51% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

Roger Biscay also recently made the following trade(s):

• On Wednesday, May 21st, Roger Biscay sold 15,675 shares of D-Wave Quantum stock. The shares were sold at an average price of $16.58, for a total transaction of $259,891.50.

D-Wave Quantum Price Performance

Shares of QBTS opened at $18.76 on Friday. The company has a 50-day moving average of $8.76 and a two-hundred day moving average of $6.70. The stock has a market cap of $5.46 billion, a price-to-earnings ratio of -44.65 and a beta of 0.90. D-Wave Quantum Inc. has a one year low of $0.75 and a one year high of $19.77.

D-Wave Quantum (NYSE:QBTS) last posted its quarterly earnings results on Thursday, May 8th. The company reported ($0.02) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.03. The company had revenue of $15.00 million during the quarter, compared to analysts’ expectations of $10.50 million. Analysts anticipate that D-Wave Quantum Inc. will post -0.41 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts have commented on the stock. B. Riley raised their target price on shares of D-Wave Quantum from $11.00 to $12.00 and gave the stock a “buy” rating in a report on Friday, March 14th. Needham & Company LLC raised their target price on shares of D-Wave Quantum from $8.50 to $13.00 and gave the stock a “buy” rating in a report on Friday, May 9th. Roth Mkm raised their target price on shares of D-Wave Quantum from $7.00 to $10.00 and gave the stock a “buy” rating in a report on Friday, March 14th. Finally, Benchmark raised their target price on shares of D-Wave Quantum from $8.00 to $14.00 and gave the stock a “buy” rating in a report on Monday, May 12th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $10.17.

Institutional Trading of D-Wave Quantum

Hedge funds have recently made changes to their positions in the stock. Fourth Dimension Wealth LLC purchased a new stake in shares of D-Wave Quantum in the fourth quarter worth approximately $26,000. PNC Financial Services Group Inc. purchased a new stake in shares of D-Wave Quantum in the fourth quarter worth approximately $38,000. Russell Investments Group Ltd. lifted its position in shares of D-Wave Quantum by 133.9% in the first quarter. Russell Investments Group Ltd. now owns 5,528 shares of the company’s stock worth $42,000 after purchasing an additional 3,165 shares in the last quarter. Signaturefd LLC lifted its position in shares of D-Wave Quantum by 106.1% in the first quarter. Signaturefd LLC now owns 5,771 shares of the company’s stock worth $44,000 after purchasing an additional 2,971 shares in the last quarter. Finally, Amalgamated Bank lifted its position in shares of D-Wave Quantum by 107.8% in the first quarter. Amalgamated Bank now owns 6,296 shares of the company’s stock worth $48,000 after purchasing an additional 3,266 shares in the last quarter. 42.47% of the stock is owned by hedge funds and other institutional investors.

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.