D-Wave Quantum (NYSE:QBTS) Shares Gap Down After Insider Selling

D-Wave Quantum Inc. (NYSE:QBTS) shares gapped down prior to trading on Tuesday following insider selling activity. The stock had previously closed at $32.19, but opened at $30.61. D-Wave Quantum shares last traded at $30.9710, with a volume of 4,747,021 shares trading hands.

Specifically, CFO John M. Markovich sold 100,000 shares of the company’s stock in a transaction dated Monday, December 22nd. The stock was sold at an average price of $30.03, for a total value of $3,003,000.00. Following the completion of the transaction, the chief financial officer owned 1,471,312 shares of the company’s stock, valued at approximately $44,183,499.36. This represents a 6.36% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Alan E. Baratz sold 793,712 shares of the firm’s stock in a transaction that occurred on Monday, December 22nd. The shares were sold at an average price of $30.13, for a total value of $23,914,542.56. Following the completion of the sale, the chief executive officer directly owned 2,633,163 shares in the company, valued at approximately $79,337,201.19. The trade was a 23.16% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on QBTS shares. Zacks Research upgraded D-Wave Quantum from a “strong sell” rating to a “hold” rating in a research report on Thursday, November 6th. Canaccord Genuity Group upped their price objective on shares of D-Wave Quantum from $20.00 to $41.00 and gave the stock a “buy” rating in a research report on Friday, November 7th. Roth Capital set a $40.00 price objective on shares of D-Wave Quantum in a report on Thursday, November 6th. Williams Trading set a $35.00 target price on shares of D-Wave Quantum in a research report on Monday, November 10th. Finally, Wedbush initiated coverage on shares of D-Wave Quantum in a research report on Wednesday, December 17th. They set an “outperform” rating and a $35.00 price target for the company. Fourteen equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, D-Wave Quantum has an average rating of “Moderate Buy” and an average target price of $33.67.

D-Wave Quantum News Roundup

Here are the key news stories impacting D-Wave Quantum this week:

• Positive Sentiment: D-Wave announced a high?visibility presence at CES 2026 and plans to showcase commercial quantum demos, which bolstered investor perception of near?term commercialization and drove buying interest. D-Wave CES showcase
• Positive Sentiment: D-Wave set its Qubits 2026 investor/tech conference for Jan. 27–28, providing an upcoming forum for management to present tech progress, commercial use cases and customer traction — a potential catalyst if new milestones or partnerships are announced. Read More.
• Positive Sentiment: Several brokers recently initiated or raised coverage with buy/outperform ratings and higher targets, supporting directional upside expectations and reinforcing retail momentum. MarketBeat analyst notes
• Neutral Sentiment: Short?term sector momentum tied to broader AI/semiconductor moves has spilled into quantum names; this helps sentiment but is not a direct operational catalyst for D?Wave. Quantum stocks overview
• Negative Sentiment: CEO Alan Baratz sold 793,712 shares on Dec. 22 (a ~23% reduction of his holdings), a large insider sale that can be perceived negatively and add selling pressure. CEO Form 4 SEC Filing
• Negative Sentiment: CFO John Markovich sold 100,000 shares on Dec. 22, another sizable insider disposal that can reinforce investor concern over timing and prompt short?term profit?taking. CFO Form 4 SEC Filing
• Negative Sentiment: Coverage pieces flag a stretched valuation after a strong rally and ask what future growth is already priced in — a narrative that can trigger profit?taking and temper new buying. Valuation caution article

D-Wave Quantum Price Performance

The stock’s fifty day moving average price is $27.85 and its 200-day moving average price is $22.57. The firm has a market cap of $9.71 billion, a PE ratio of -20.55 and a beta of 1.57. The company has a debt-to-equity ratio of 0.05, a current ratio of 54.68 and a quick ratio of 54.49.

D-Wave Quantum (NYSE:QBTS) last posted its quarterly earnings results on Thursday, November 6th. The company reported ($0.05) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.02. The firm had revenue of $3.74 million for the quarter, compared to analyst estimates of $3.03 million. D-Wave Quantum had a negative net margin of 1,651.81% and a negative return on equity of 97.58%. D-Wave Quantum’s revenue was up 105.6% compared to the same quarter last year. As a group, equities analysts expect that D-Wave Quantum Inc. will post -0.41 EPS for the current fiscal year.

Institutional Investors Weigh In On D-Wave Quantum

A number of large investors have recently made changes to their positions in QBTS. Allworth Financial LP lifted its position in D-Wave Quantum by 40.7% during the third quarter. Allworth Financial LP now owns 10,362 shares of the company’s stock worth $256,000 after buying an additional 2,999 shares in the last quarter. Swiss Life Asset Management Ltd purchased a new position in shares of D-Wave Quantum during the 3rd quarter worth $345,000. Strategic Advocates LLC boosted its position in shares of D-Wave Quantum by 6.5% during the 3rd quarter. Strategic Advocates LLC now owns 33,715 shares of the company’s stock valued at $833,000 after acquiring an additional 2,050 shares during the last quarter. CIBC Bancorp USA Inc. purchased a new stake in shares of D-Wave Quantum in the third quarter valued at about $814,000. Finally, WBI Investments LLC acquired a new stake in D-Wave Quantum during the third quarter worth about $844,000. 42.47% of the stock is currently owned by hedge funds and other institutional investors.

About D-Wave Quantum

D-Wave Quantum Inc (NYSE: QBTS) develops and provides quantum computing systems, software and services focused on quantum annealing technology. Headquartered in Burnaby, British Columbia, D-Wave designs specialized processors that leverage quantum mechanics to solve complex optimization and sampling problems. Since its founding in 1999 by physicists including Geordie Rose, the company has pursued the development of commercially viable quantum hardware and accompanying software tools.

The company’s product portfolio centers on its quantum annealers, which are complemented by hybrid solvers that integrate classical and quantum computing resources.