D-Wave Quantum Inc. (NYSE:QBTS) Director Roger Biscay Sells 15,675 Shares

D-Wave Quantum Inc. (NYSE:QBTS - Get Free Report) Director Roger Biscay sold 15,675 shares of the business's stock in a transaction on Wednesday, May 21st. The stock was sold at an average price of $16.58, for a total value of $259,891.50. Following the completion of the transaction, the director now directly owns 203,147 shares of the company's stock, valued at approximately $3,368,177.26. This trade represents a 7.16% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through 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 shares were sold at an average price of $17.86, for a total value of $1,723,865.06.

D-Wave Quantum Trading Down 1.5%

QBTS traded down $0.29 during midday trading on Friday, hitting $18.76. The company's stock had a trading volume of 148,422,253 shares, compared to its average volume of 42,138,430. D-Wave Quantum Inc. has a 52-week low of $0.75 and a 52-week high of $20.27. The firm has a 50-day moving average price of $8.60 and a two-hundred day moving average price of $6.54. 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 (NYSE:QBTS - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The company reported ($0.02) EPS for the quarter, topping the consensus estimate of ($0.05) by $0.03. The company had revenue of $15.00 million for the quarter, compared to analyst estimates of $10.50 million. On average, equities analysts expect that D-Wave Quantum Inc. will post -0.41 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Needham & Company LLC raised their price target on shares of D-Wave Quantum from $8.50 to $13.00 and gave the stock a "buy" rating in a research note on Friday, May 9th. Benchmark raised their target price on shares of D-Wave Quantum from $8.00 to $14.00 and gave the stock a "buy" rating in a research report on Monday, May 12th. 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 note on Friday, March 14th. Finally, Roth Mkm boosted their price target on D-Wave Quantum from $7.00 to $10.00 and gave the company a "buy" rating in a report on Friday, March 14th. Six research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has a consensus rating of "Buy" and an average price target of $10.17.

Institutional Trading of D-Wave Quantum

A number of institutional investors and hedge funds have recently made changes to their positions in QBTS. Vanguard Group Inc. boosted its holdings in D-Wave Quantum by 58.5% in the first quarter. Vanguard Group Inc. now owns 11,285,043 shares of the company's stock valued at $85,766,000 after acquiring an additional 4,166,721 shares during the last quarter. Penserra Capital Management LLC raised its holdings in shares of D-Wave Quantum by 80.1% in the 1st quarter. Penserra Capital Management LLC now owns 5,068,199 shares of the company's stock worth $38,518,000 after purchasing an additional 2,253,741 shares during the period. UNICOM Systems Inc. raised its holdings in shares of D-Wave Quantum by 91.9% in the 1st quarter. UNICOM Systems Inc. now owns 4,627,704 shares of the company's stock worth $35,171,000 after purchasing an additional 2,216,000 shares during the period. Geode Capital Management LLC lifted its stake in shares of D-Wave Quantum by 16.4% in the 4th quarter. Geode Capital Management LLC now owns 2,974,395 shares of the company's stock valued at $24,992,000 after purchasing an additional 418,468 shares in the last quarter. Finally, Bank of America Corp DE grew its holdings in shares of D-Wave Quantum by 4,912.4% during the 4th quarter. Bank of America Corp DE now owns 2,548,099 shares of the company's stock worth $21,404,000 after purchasing an additional 2,497,263 shares during the period. 42.47% of the stock is currently owned by institutional investors and hedge funds.

About D-Wave Quantum

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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