Centiva Capital LP Invests $1.62 Million in D-Wave Quantum Inc. (NYSE:QBTS)

Centiva Capital LP purchased a new position in D-Wave Quantum Inc. (NYSE:QBTS - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 192,883 shares of the company's stock, valued at approximately $1,620,000. Centiva Capital LP owned about 0.07% of D-Wave Quantum as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in QBTS. Vanguard Group Inc. boosted its holdings in D-Wave Quantum by 103.7% in the 4th quarter. Vanguard Group Inc. now owns 7,118,322 shares of the company's stock worth $59,794,000 after buying an additional 3,624,407 shares during the period. Barclays PLC grew its holdings in D-Wave Quantum by 298.3% during the 3rd quarter. Barclays PLC now owns 120,029 shares of the company's stock valued at $117,000 after buying an additional 89,894 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of D-Wave Quantum by 40.9% during the fourth quarter. Bank of New York Mellon Corp now owns 219,620 shares of the company's stock valued at $1,845,000 after buying an additional 63,799 shares during the period. Commonwealth Equity Services LLC lifted its holdings in shares of D-Wave Quantum by 1,097.3% in the fourth quarter. Commonwealth Equity Services LLC now owns 228,047 shares of the company's stock worth $1,916,000 after buying an additional 209,000 shares in the last quarter. Finally, Truist Financial Corp bought a new position in shares of D-Wave Quantum in the fourth quarter valued at approximately $108,000. 42.47% of the stock is currently owned by hedge funds and other institutional investors.

D-Wave Quantum Stock Down 4.8 %

Shares of QBTS opened at $6.88 on Thursday. The stock has a market capitalization of $2.00 billion, a P/E ratio of -16.38 and a beta of 0.90. D-Wave Quantum Inc. has a twelve month low of $0.75 and a twelve month high of $11.95. The firm has a fifty day simple moving average of $7.18 and a two-hundred day simple moving average of $5.65.

D-Wave Quantum (NYSE:QBTS - Get Free Report) last posted its earnings results on Thursday, March 13th. The company reported ($0.37) earnings per share for the quarter, missing analysts' consensus estimates of ($0.09) by ($0.28). The firm had revenue of $2.31 million for the quarter, compared to the consensus estimate of $2.23 million. Sell-side analysts expect that D-Wave Quantum Inc. will post -0.41 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on QBTS shares. Benchmark restated a "buy" rating and set a $8.00 price target on shares of D-Wave Quantum in a research report on Friday, March 14th. Roth Mkm increased their price target on shares of D-Wave Quantum from $7.00 to $10.00 and gave the company a "buy" rating in a research report on Friday, March 14th. Needham & Company LLC reaffirmed a "buy" rating and issued a $8.50 price objective on shares of D-Wave Quantum in a research note on Wednesday, April 2nd. Finally, B. Riley lifted their target price on shares of D-Wave Quantum from $11.00 to $12.00 and gave the stock a "buy" rating in a research report on Friday, March 14th. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has an average rating of "Buy" and an average target price of $8.42.

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.

Want to see what other hedge funds are holding QBTS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for D-Wave Quantum Inc. (NYSE:QBTS - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.