Quantum Biopharma (NASDAQ:QNTM) Shares Up 12.5% - Here's What Happened

Key Points

• Quantum Biopharma shares surged 12.5% on Thursday, reaching a high of $20.20 before closing at $19.99.
• Recent analyst upgrades have boosted sentiment, with Wall Street Zen changing the rating from "sell" to "hold" and Singular Research upgrading to "moderate buy."
• The company reported a significant loss in its last earnings report, with an EPS of ($3.23), missing estimates by ($3.06).

Quantum Biopharma Ltd. (NASDAQ:QNTM - Get Free Report)'s stock price shot up 12.5% during mid-day trading on Thursday . The company traded as high as $20.20 and last traded at $19.99. 170,794 shares were traded during mid-day trading, an increase of 29% from the average session volume of 132,280 shares. The stock had previously closed at $17.77.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on QNTM. Wall Street Zen upgraded shares of Quantum Biopharma from a "sell" rating to a "hold" rating in a research note on Saturday, June 7th. Singular Research upgraded shares of Quantum Biopharma to a "moderate buy" rating in a research note on Wednesday, June 18th.

Quantum Biopharma Stock Performance

The firm has a market capitalization of $72.08 million, a price-to-earnings ratio of -1.35 and a beta of 0.77. The firm's 50-day moving average price is $20.32 and its two-hundred day moving average price is $14.59.

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

Hedge Funds Weigh In On Quantum Biopharma

An institutional investor recently bought a new position in Quantum Biopharma stock. Steward Partners Investment Advisory LLC bought a new position in Quantum Biopharma Ltd. (NASDAQ:QNTM - Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 3,100 shares of the company's stock, valued at approximately $63,000. Steward Partners Investment Advisory LLC owned about 0.11% of Quantum Biopharma at the end of the most recent quarter. Institutional investors and hedge funds own 1.24% of the company's stock.

Quantum Biopharma Company Profile

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.