D-Wave Quantum Inc. (NYSE:QBTS) CFO Sells $29,417.14 in Stock

D-Wave Quantum Inc. (NYSE:QBTS) CFO John M. Markovich sold 5,582 shares of the firm’s stock in a transaction that occurred on Thursday, January 23rd. The shares were sold at an average price of $5.27, for a total transaction of $29,417.14. Following the completion of the transaction, the chief financial officer now directly owns 1,064,556 shares in the company, valued at approximately $5,610,210.12. The trade was a 0.52 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

D-Wave Quantum Stock Performance

NYSE QBTS opened at $5.58 on Tuesday. The stock has a market cap of $1.50 billion, a price-to-earnings ratio of -13.27 and a beta of 1.16. The business has a 50 day simple moving average of $5.65 and a 200 day simple moving average of $2.67. D-Wave Quantum Inc. has a 52-week low of $0.75 and a 52-week high of $11.41.

Institutional Investors Weigh In On D-Wave Quantum

Large investors have recently made changes to their positions in the stock. Spire Wealth Management bought a new stake in D-Wave Quantum in the 4th quarter valued at $90,000. Strategic Advocates LLC acquired a new stake in shares of D-Wave Quantum in the 4th quarter valued at about $148,000. Sonora Investment Management Group LLC bought a new stake in shares of D-Wave Quantum in the fourth quarter valued at about $135,000. Patriot Financial Group Insurance Agency LLC bought a new stake in shares of D-Wave Quantum in the fourth quarter valued at about $488,000. Finally, Flagship Harbor Advisors LLC acquired a new position in shares of D-Wave Quantum during the fourth quarter worth about $233,000. Institutional investors own 42.47% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on QBTS. Benchmark restated a “buy” rating and issued a $8.00 price target on shares of D-Wave Quantum in a research report on Tuesday, January 14th. Needham & Company LLC restated a “buy” rating and set a $2.25 target price on shares of D-Wave Quantum in a report on Friday, November 15th. Roth Mkm upped their price target on D-Wave Quantum from $3.00 to $7.00 and gave the company a “buy” rating in a research note on Thursday, December 12th. Craig Hallum increased their price target on shares of D-Wave Quantum from $2.50 to $9.00 and gave the company a “buy” rating in a research report on Friday, December 20th. Finally, B. Riley upped their target price on shares of D-Wave Quantum from $4.50 to $9.00 and gave the company a “buy” rating in a research note on Tuesday, January 14th. Six analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $6.38.

About D-Wave Quantum

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.