Bank of America Corp DE Invests $104.18 Million in D-Wave Quantum Inc. $QBTS

Key Points

• Bank of America acquired 4.34 million D-Wave Quantum shares worth approximately $104.2 million, giving it a 1.17% stake. Institutional investors collectively own 42.47% of QBTS, with BlackRock, Goldman Sachs and others also reporting significant positions.
• D-Wave’s latest quarter fell short of expectations, with a $0.10 per-share loss versus the projected $0.08 loss and revenue of $3.08 million versus estimates of $4.03 million. The company remains unprofitable, while shares recently traded at $17.11—well below the 12-month high of $46.75.
• Analyst sentiment remains broadly positive: 13 analysts rate QBTS a Buy, with an average price target of $36.27 compared with the current price. However, insider selling and the company’s weak financial results present risks despite recent institutional buying.

Bank of America Corp DE acquired a new stake in shares of D-Wave Quantum Inc. (NASDAQ:QBTS - Free Report) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor acquired 4,342,782 shares of the company's stock, valued at approximately $104,183,000. Bank of America Corp DE owned about 1.17% of D-Wave Quantum at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. BlackRock Inc. purchased a new stake in shares of D-Wave Quantum during the second quarter valued at approximately $795,206,000. Goldman Sachs Group Inc. boosted its position in D-Wave Quantum by 311.6% during the 4th quarter. Goldman Sachs Group Inc. now owns 3,548,013 shares of the company's stock valued at $92,781,000 after buying an additional 2,685,980 shares during the period. Bank of New York Mellon Corp bought a new stake in D-Wave Quantum in the 2nd quarter worth $54,951,000. Clear Street Group Inc. grew its holdings in D-Wave Quantum by 40.4% in the 4th quarter. Clear Street Group Inc. now owns 4,281,254 shares of the company's stock worth $111,955,000 after acquiring an additional 1,232,106 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in shares of D-Wave Quantum by 11.5% in the fourth quarter. Geode Capital Management LLC now owns 8,394,726 shares of the company's stock valued at $220,085,000 after acquiring an additional 866,405 shares during the period. 42.47% of the stock is currently owned by institutional investors.

D-Wave Quantum Stock Down 3.3%

Shares of NASDAQ:QBTS opened at $17.11 on Friday. The stock has a fifty day simple moving average of $18.26 and a two-hundred day simple moving average of $19.91. The stock has a market capitalization of $6.33 billion, a price-to-earnings ratio of -24.10 and a beta of 2.15. D-Wave Quantum Inc. has a 12-month low of $12.75 and a 12-month high of $46.75. The company has a current ratio of 20.55, a quick ratio of 20.42 and a debt-to-equity ratio of 0.03.

D-Wave Quantum (NASDAQ:QBTS - Get Free Report) last released its earnings results on Thursday, August 6th. The company reported ($0.10) EPS for the quarter, missing analysts' consensus estimates of ($0.08) by ($0.02). D-Wave Quantum had a negative return on equity of 26.67% and a negative net margin of 2,001.59%.The company had revenue of $3.08 million during the quarter, compared to analysts' expectations of $4.03 million. During the same period in the prior year, the company posted ($0.08) earnings per share. The company's revenue was down 0.6 on a year-over-year basis. On average, research analysts anticipate that D-Wave Quantum Inc. will post -0.46 earnings per share for the current fiscal year.

Insider Buying and Selling at D-Wave Quantum

In other news, VP Sophie Ames sold 3,070 shares of the company's stock in a transaction on Monday, July 20th. The stock was sold at an average price of $16.95, for a total transaction of $52,036.50. Following the transaction, the vice president directly owned 589,009 shares of the company's stock, valued at $9,983,702.55. This represents a 0.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.30% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

QBTS has been the topic of several recent analyst reports. Wedbush assumed coverage on D-Wave Quantum in a research note on Monday, August 3rd. They issued an "outperform" rating and a $40.00 target price on the stock. Weiss Ratings raised D-Wave Quantum from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Friday, August 28th. Rosenblatt Securities reiterated a "buy" rating and issued a $43.00 price objective on shares of D-Wave Quantum in a report on Friday, August 7th. Benchmark started coverage on D-Wave Quantum in a research report on Monday, July 27th. They issued a "buy" rating and a $30.00 price objective on the stock. Finally, BMO Capital Markets started coverage on D-Wave Quantum in a research note on Thursday, August 20th. They set an "outperform" rating and a $35.00 target price on the stock. Thirteen analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $36.27.

D-Wave Quantum News Summary

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

• Positive Sentiment: Quantum-computing stocks attracted broad investor buying after IonQ and NVIDIA reported progress in reducing quantum-circuit compilation times. D-Wave benefited as investors treated the sector as a momentum trade rather than focusing solely on near-term fundamentals. IonQ Climbs 9% on Quantum Optimization Work With NVIDIA; D-Wave Rises 8%, Rigetti Gains 7%
• Positive Sentiment: D-Wave’s planned Qubits Asia 2026 conference in Seoul will showcase customer applications and the company’s growing Asia-Pacific presence. The event may support investor optimism about commercial adoption, although it does not immediately change financial results. D-Wave to Host Qubits Asia 2026 Quantum Computing User Conference in Seoul
• Positive Sentiment: The company’s recently finalized agreement providing access to up to $100 million under the CHIPS and Science Act remains a longer-term catalyst. The funding is intended to advance large-scale annealing and gate-model systems, including planned 100,000-qubit and 10,000-qubit platforms.
• Neutral Sentiment: Institutional activity is mixed: 356 investors added QBTS shares in the latest reporting period, while 236 reduced positions. Large additions by Norges Bank, BlackRock and JPMorgan contrast with sizable reductions by other funds, offering no clear consensus signal.
• Negative Sentiment: Kessler Topaz Meltzer & Check said it is investigating potential federal-securities-law violations on behalf of investors who suffered losses. The announcement follows a similar investigation by Pomerantz; neither notice establishes wrongdoing by D-Wave. Kessler Topaz investor investigation
• Negative Sentiment: Reports also point to CFO John Markovich’s exit and the ongoing legal probes, increasing uncertainty around management continuity and potential disclosure issues. What Is D Wave Quantum Facing After CFO Exit And Legal Probes?
• Negative Sentiment: Insider trading data shows no reported insider purchases and 15 sales over the past six months, including sales by the CEO and CFO. Heavy insider selling can weigh on sentiment, even though sales may reflect compensation or personal financial planning.
• Negative Sentiment: D-Wave remains financially unprofitable, recently missing revenue and EPS expectations. Against that backdrop, its roughly $6.3 billion market capitalization and negative earnings leave QBTS vulnerable to profit-taking when speculative enthusiasm fades.

About D-Wave Quantum

D-Wave Quantum Inc develops quantum computing systems, software, and services for commercial, government, and research customers. The company is best known for its quantum annealing technology, which is designed to help solve complex optimization problems involving areas such as logistics, scheduling, manufacturing, artificial intelligence, and financial modeling.

D-Wave also develops gate-model quantum computing technology and provides access to its systems through cloud-based services, including the Leap quantum application environment.

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