Roger Biscay Sells 96,521 Shares of D-Wave Quantum Inc. (NYSE:QBTS) Stock

D-Wave Quantum Inc. (NYSE:QBTS - Get Free Report) Director Roger Biscay sold 96,521 shares of the company's stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $17.86, for a total value of $1,723,865.06. Following the completion of the sale, the director now owns 106,626 shares in the company, valued at $1,904,340.36. This trade represents a 47.51% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Roger Biscay also recently made the following trade(s):

• On Wednesday, May 21st, Roger Biscay sold 15,675 shares of D-Wave Quantum stock. The shares were sold at an average price of $16.58, for a total transaction of $259,891.50.

D-Wave Quantum Stock Performance

Shares of D-Wave Quantum stock traded down $0.29 on Friday, hitting $18.76. The company had a trading volume of 148,422,253 shares, compared to its average volume of 42,138,430. D-Wave Quantum Inc. has a 1 year low of $0.75 and a 1 year high of $20.27. The stock has a 50 day moving average of $8.60 and a 200-day moving average of $6.54. The stock has a market capitalization of $5.46 billion, a price-to-earnings ratio of -44.65 and a beta of 0.90.

D-Wave Quantum (NYSE:QBTS - Get Free Report) last announced its earnings results on Thursday, May 8th. The company reported ($0.02) EPS for the quarter, beating the consensus estimate of ($0.05) by $0.03. The firm had revenue of $15.00 million during the quarter, compared to analysts' expectations of $10.50 million. Equities analysts anticipate that D-Wave Quantum Inc. will post -0.41 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Barclays PLC grew its position in D-Wave Quantum by 298.3% during the third quarter. Barclays PLC now owns 120,029 shares of the company's stock valued at $117,000 after buying an additional 89,894 shares during the period. Arkadios Wealth Advisors bought a new position in shares of D-Wave Quantum during the 4th quarter valued at approximately $162,000. Traynor Capital Management Inc. purchased a new stake in shares of D-Wave Quantum during the 4th quarter worth approximately $219,000. Veracity Capital LLC purchased a new position in D-Wave Quantum in the fourth quarter valued at approximately $228,000. Finally, Flagship Harbor Advisors LLC bought a new position in D-Wave Quantum during the fourth quarter valued at $233,000. Hedge funds and other institutional investors own 42.47% of the company's stock.

Wall Street Analyst Weigh In

QBTS has been the topic of a number of research analyst reports. B. Riley upped their price target on shares of D-Wave Quantum from $11.00 to $12.00 and gave the company a "buy" rating in a research report on Friday, March 14th. Roth Mkm lifted their target price on D-Wave Quantum from $7.00 to $10.00 and gave the stock a "buy" rating in a report on Friday, March 14th. Needham & Company LLC increased their price target on D-Wave Quantum from $8.50 to $13.00 and gave the stock a "buy" rating in a report on Friday, May 9th. Finally, Benchmark raised their price target on shares of D-Wave Quantum from $8.00 to $14.00 and gave the stock a "buy" rating in a report on Monday, May 12th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has an average rating of "Buy" and an average target price of $10.17.

D-Wave Quantum Company Profile

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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