D-Wave Quantum Inc. (NYSE:QBTS) Director Roger Biscay Sells 106,626 Shares

D-Wave Quantum Inc. (NYSE:QBTS - Get Free Report) Director Roger Biscay sold 106,626 shares of the company's stock in a transaction dated Thursday, June 12th. The shares were sold at an average price of $16.85, for a total transaction of $1,796,648.10. Following the sale, the director now owns 14,260 shares of the company's stock, valued at approximately $240,281. The trade was a 88.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

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 shares were sold at an average price of $17.86, for a total transaction of $1,723,865.06.
• 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

QBTS stock opened at $16.03 on Tuesday. D-Wave Quantum Inc. has a 1 year low of $0.75 and a 1 year high of $19.77. The company has a market cap of $4.68 billion, a P/E ratio of -38.18 and a beta of 1.49. The firm has a 50-day moving average of $11.74 and a 200 day moving average of $8.40.

D-Wave Quantum (NYSE:QBTS - Get Free Report) last released 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 the consensus estimate of $10.50 million. On average, equities research analysts expect that D-Wave Quantum Inc. will post -0.41 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Needham & Company LLC upped their price objective on shares of D-Wave Quantum from $8.50 to $13.00 and gave the company a "buy" rating in a research note on Friday, May 9th. Roth Capital reaffirmed a "buy" rating on shares of D-Wave Quantum in a research note on Friday. Benchmark upped their price objective on shares of D-Wave Quantum from $8.00 to $14.00 and gave the company a "buy" rating in a research note on Monday, May 12th. B. Riley upped their price objective on shares of D-Wave Quantum from $11.00 to $12.00 and gave the company a "buy" rating in a research note on Friday, March 14th. Finally, Roth Mkm upped their price objective on shares of D-Wave Quantum from $7.00 to $10.00 and gave the company a "buy" rating in a research note on Friday, March 14th. Seven analysts have rated the stock with a buy rating, According to MarketBeat.com, D-Wave Quantum has an average rating of "Buy" and a consensus price target of $10.17.

Hedge Funds Weigh In On D-Wave Quantum

A number of institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. increased its stake in shares of D-Wave Quantum by 103.7% during the fourth quarter. Vanguard Group Inc. now owns 7,118,322 shares of the company's stock valued at $59,794,000 after purchasing an additional 3,624,407 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in D-Wave Quantum by 40.9% in the fourth quarter. Bank of New York Mellon Corp now owns 219,620 shares of the company's stock worth $1,845,000 after buying an additional 63,799 shares during the last quarter. Commonwealth Equity Services LLC raised its holdings in 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 during the last quarter. Truist Financial Corp purchased a new position in D-Wave Quantum in the fourth quarter worth about $108,000. Finally, JPMorgan Chase & Co. raised its holdings in D-Wave Quantum by 20.6% in the fourth quarter. JPMorgan Chase & Co. now owns 46,804 shares of the company's stock worth $393,000 after buying an additional 8,001 shares during the last quarter. 42.47% of the stock is owned by 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.

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