Insider Selling: D-Wave Quantum Inc. (NYSE:QBTS) Director Sells $259,891.50 in Stock

D-Wave Quantum Inc. (NYSE:QBTS) Director Roger Biscay sold 15,675 shares of the business’s stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $16.58, for a total transaction of $259,891.50. Following the sale, the director now directly owns 203,147 shares of the company’s stock, valued at approximately $3,368,177.26. This represents a 7.16% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

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

• On Thursday, May 22nd, Roger Biscay sold 96,521 shares of D-Wave Quantum stock. The stock was sold at an average price of $17.86, for a total value of $1,723,865.06.

D-Wave Quantum Stock Performance

QBTS opened at $18.76 on Monday. The firm has a market cap of $5.46 billion, a P/E ratio of -44.65 and a beta of 0.90. D-Wave Quantum Inc. has a twelve month low of $0.75 and a twelve month high of $19.77. The business has a 50 day moving average price of $8.76 and a 200 day moving average price of $6.73.

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

Analyst Upgrades and Downgrades

QBTS has been the subject of several recent analyst reports. Needham & Company LLC upped their target price on shares of D-Wave Quantum from $8.50 to $13.00 and gave the stock a “buy” rating in a research 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. B. Riley increased their price target on D-Wave Quantum from $11.00 to $12.00 and gave the company a “buy” rating in a research report on Friday, March 14th. Finally, Benchmark raised their price objective on shares of D-Wave Quantum from $8.00 to $14.00 and gave the stock a “buy” rating in a research note on Monday, May 12th. Six research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $10.17.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. bLong Financial LLC raised its position in D-Wave Quantum by 5.2% in the first quarter. bLong Financial LLC now owns 24,092 shares of the company’s stock worth $183,000 after purchasing an additional 1,200 shares in the last quarter. Baird Financial Group Inc. increased its position in D-Wave Quantum by 12.0% in the first quarter. Baird Financial Group Inc. now owns 12,135 shares of the company’s stock worth $92,000 after purchasing an additional 1,300 shares during the period. Victory Capital Management Inc. increased its position in D-Wave Quantum by 5.8% in the first quarter. Victory Capital Management Inc. now owns 31,097 shares of the company’s stock worth $236,000 after purchasing an additional 1,698 shares during the period. Summit Investment Advisors Inc. increased its position in D-Wave Quantum by 20.6% in the fourth quarter. Summit Investment Advisors Inc. now owns 10,347 shares of the company’s stock worth $87,000 after purchasing an additional 1,766 shares during the period. Finally, Invesco Ltd. grew its holdings in D-Wave Quantum by 5.1% during the 4th quarter. Invesco Ltd. now owns 42,619 shares of the company’s stock worth $358,000 after acquiring an additional 2,051 shares during the period. 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.