JPMorgan Chase & Co. Grows Stock Holdings in Quantum Computing Inc. $QUBT

Key Points

• JPMorgan Chase raised its stake in Quantum Computing Inc. (QUBT) by 1,612% in Q3 to 933,925 shares—adding 879,374 shares and holding 0.42% of the company worth about $17.19 million.
• Other major institutions increased positions too: Vanguard now owns 12,197,605 shares (~$224.6M), and new or larger stakes were reported from Alyeska, Anson, Ghisallo and Polar, indicating heightened institutional interest.
• Insiders have been selling recently—the CFO sold 68,902 shares at $7.85 and the COO sold 2,860 shares—total insider sales of 81,122 shares (~$648K) in the past 90 days, though insiders still own 19.3% of the stock.

JPMorgan Chase & Co. increased its position in shares of Quantum Computing Inc. (NASDAQ:QUBT - Free Report) by 1,612.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 933,925 shares of the company's stock after purchasing an additional 879,374 shares during the period. JPMorgan Chase & Co. owned 0.42% of Quantum Computing worth $17,194,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in Quantum Computing by 23.1% during the 3rd quarter. Vanguard Group Inc. now owns 12,197,605 shares of the company's stock worth $224,558,000 after buying an additional 2,286,514 shares during the last quarter. Alyeska Investment Group L.P. acquired a new position in shares of Quantum Computing during the 3rd quarter worth about $123,014,000. Anson Funds Management LP increased its holdings in shares of Quantum Computing by 14.9% in the 3rd quarter. Anson Funds Management LP now owns 5,373,455 shares of the company's stock valued at $98,925,000 after acquiring an additional 695,092 shares during the last quarter. Ghisallo Capital Management LLC purchased a new position in shares of Quantum Computing in the 3rd quarter valued at about $74,194,000. Finally, Polar Asset Management Partners Inc. raised its position in shares of Quantum Computing by 72.3% during the 3rd quarter. Polar Asset Management Partners Inc. now owns 2,686,727 shares of the company's stock worth $48,643,000 after acquiring an additional 1,127,427 shares in the last quarter. Hedge funds and other institutional investors own 4.26% of the company's stock.

Insider Activity

In other Quantum Computing news, CFO Christopher Bruce Roberts sold 68,902 shares of the company's stock in a transaction that occurred on Tuesday, March 10th. The stock was sold at an average price of $7.85, for a total transaction of $540,880.70. Following the completion of the sale, the chief financial officer directly owned 1,132,398 shares of the company's stock, valued at $8,889,324.30. This represents a 5.74% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Milan Begliarbekov sold 2,860 shares of the company's stock in a transaction that occurred on Wednesday, January 7th. The shares were sold at an average price of $11.85, for a total value of $33,891.00. Following the sale, the chief operating officer directly owned 24,240 shares of the company's stock, valued at approximately $287,244. This represents a 10.55% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 81,122 shares of company stock worth $648,248 in the last 90 days. 19.30% of the stock is currently owned by insiders.

Quantum Computing Stock Performance

Shares of Quantum Computing stock opened at $7.32 on Thursday. Quantum Computing Inc. has a 1 year low of $5.76 and a 1 year high of $25.84. The company has a market capitalization of $1.64 billion, a P/E ratio of -48.80 and a beta of 3.51. The company's fifty day moving average is $8.90 and its two-hundred day moving average is $12.65.

Quantum Computing (NASDAQ:QUBT - Get Free Report) last announced its earnings results on Monday, March 2nd. The company reported ($0.01) EPS for the quarter, beating analysts' consensus estimates of ($0.04) by $0.03. The business had revenue of $0.20 million during the quarter, compared to analysts' expectations of $0.39 million.

Analyst Ratings Changes

Several equities research analysts recently weighed in on QUBT shares. Weiss Ratings restated a "sell (d-)" rating on shares of Quantum Computing in a research note on Monday, December 29th. Wall Street Zen cut shares of Quantum Computing from a "hold" rating to a "sell" rating in a research report on Saturday, March 7th. Wedbush started coverage on Quantum Computing in a report on Wednesday, December 17th. They set a "neutral" rating and a $12.00 price objective on the stock. Ascendiant Capital Markets cut their target price on Quantum Computing from $40.00 to $25.00 and set a "buy" rating on the stock in a research report on Monday, December 22nd. Finally, Cantor Fitzgerald reduced their target price on Quantum Computing from $15.00 to $10.00 and set a "neutral" rating for the company in a report on Tuesday, March 3rd. Three equities research 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. According to MarketBeat, Quantum Computing presently has an average rating of "Hold" and a consensus target price of $17.00.

Quantum Computing Profile

Quantum Computing Inc NASDAQ: QUBT is a provider of quantum computing and quantum-inspired algorithm solutions, headquartered in the United States with research and development operations in Europe. Originally incorporated as Unigrid Software in 2019, the company rebranded in 2021 to reflect its strategic focus on commercializing emerging quantum technologies for enterprise and government customers.

The company's flagship product, Qatalyst, is a quantum-inspired optimization platform that applies advanced heuristic solvers to address complex combinatorial problems in logistics, supply chain management, finance and other data-intensive fields.

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