D-Wave Quantum Inc. (NYSE:QBTS) CEO Alan E. Baratz Sells 8,372 Shares

D-Wave Quantum Inc. (NYSE:QBTS) CEO Alan E. Baratz sold 8,372 shares of the firm’s stock in a transaction on Thursday, January 23rd. The stock was sold at an average price of $5.27, for a total transaction of $44,120.44. Following the completion of the sale, the chief executive officer now owns 2,342,208 shares in the company, valued at $12,343,436.16. This represents a 0.36 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

D-Wave Quantum Stock Performance

Shares of NYSE QBTS opened at $5.58 on Tuesday. D-Wave Quantum Inc. has a 52-week low of $0.75 and a 52-week high of $11.41. The business has a fifty day moving average of $5.65 and a two-hundred day moving average of $2.67. The stock has a market cap of $1.50 billion, a PE ratio of -13.27 and a beta of 1.16.

Institutional Investors Weigh In On D-Wave Quantum

A number of hedge funds have recently made changes to their positions in the company. Rhumbline Advisers bought a new stake in shares of D-Wave Quantum during the second quarter worth $93,000. XTX Topco Ltd acquired a new position in D-Wave Quantum during the 2nd quarter worth about $163,000. Marshall Wace LLP bought a new stake in D-Wave Quantum during the 2nd quarter worth about $265,000. Squarepoint Ops LLC acquired a new stake in D-Wave Quantum in the 2nd quarter valued at about $163,000. Finally, SG Americas Securities LLC acquired a new stake in D-Wave Quantum in the 3rd quarter valued at about $42,000. Institutional investors and hedge funds own 42.47% of the company’s stock.

Wall Street Analyst Weigh In

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

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.