Quantum Biopharma (NASDAQ:QNTM) Trading Up 2.4% - Here's What Happened

Key Points

• Quantum Biopharma Ltd. (NASDAQ:QNTM) shares rose by 2.4% on Wednesday, with a trading price reaching $18.13 before closing at $16.75.
• The company recently reported a significant earnings miss of ($3.23) per share, falling short of analysts' estimates of ($0.17).
• Research firms have upgraded their ratings for QNTM, with Singular Research labeling it a "moderate buy" and Wall Street Zen moving it from "sell" to "hold."

Quantum Biopharma Ltd. (NASDAQ:QNTM - Get Free Report) shares traded up 2.4% during mid-day trading on Wednesday . The company traded as high as $18.13 and last traded at $16.75. 97,729 shares were traded during mid-day trading, a decline of 45% from the average session volume of 176,677 shares. The stock had previously closed at $16.35.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Singular Research raised Quantum Biopharma to a "moderate buy" rating in a report on Wednesday, June 18th. Wall Street Zen raised Quantum Biopharma from a "sell" rating to a "hold" rating in a report on Saturday, June 7th.

Quantum Biopharma Trading Down 3.2%

The stock has a fifty day moving average of $21.10 and a two-hundred day moving average of $13.74. The stock has a market capitalization of $62.30 million, a price-to-earnings ratio of -1.16 and a beta of 0.77.

Quantum Biopharma (NASDAQ:QNTM - Get Free Report) last released its earnings results on Wednesday, August 6th. The company reported ($3.23) EPS for the quarter, missing the consensus estimate of ($0.17) by ($3.06). Equities analysts expect that Quantum Biopharma Ltd. will post -3.27 earnings per share for the current year.

Institutional Investors Weigh In On Quantum Biopharma

A hedge fund recently bought a new stake in Quantum Biopharma stock. Steward Partners Investment Advisory LLC bought a new stake in Quantum Biopharma Ltd. (NASDAQ:QNTM - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 3,100 shares of the company's stock, valued at approximately $63,000. Steward Partners Investment Advisory LLC owned 0.11% of Quantum Biopharma as of its most recent filing with the Securities and Exchange Commission. Institutional investors own 1.24% of the company's stock.

About Quantum Biopharma

Quantum Biopharma Ltd. is a biotechnology pharmaceutical research and development company, which focuses on the cultivation, process, and sale of medical cannabis. It operates through the Biotechnology and Strategic Investments segments. The Biotechnology segment is involved in the research and development of the company's three drug candidates consisting of FSD-PEA, Lucid-PSYCH, and Lucid-MS.