Alan E. Baratz Sells 8,372 Shares of D-Wave Quantum Inc. (NYSE:QBTS) Stock

D-Wave Quantum Inc. (NYSE:QBTS) CEO Alan E. Baratz sold 8,372 shares of D-Wave Quantum stock in a transaction on Thursday, January 23rd. The shares were sold at an average price of $5.27, for a total transaction of $44,120.44. Following the completion of the transaction, the chief executive officer now owns 2,342,208 shares in the company, valued at approximately $12,343,436.16. This trade represents a 0.36 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

D-Wave Quantum Price Performance

D-Wave Quantum stock opened at $5.74 on Wednesday. The firm’s fifty day moving average price is $5.73 and its 200 day moving average price is $2.70. The company has a market capitalization of $1.54 billion, a price-to-earnings ratio of -13.65 and a beta of 1.16. D-Wave Quantum Inc. has a 12-month low of $0.75 and a 12-month high of $11.41.

Analysts Set New Price Targets

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

Institutional Investors Weigh In On D-Wave Quantum

Hedge funds and other institutional investors have recently modified their holdings of the stock. SG Americas Securities LLC bought a new stake in shares of D-Wave Quantum in the 3rd quarter worth about $42,000. Bogart Wealth LLC bought a new stake in shares of D-Wave Quantum in the 3rd quarter worth about $49,000. Kingsview Wealth Management LLC acquired a new position in shares of D-Wave Quantum in the 4th quarter valued at about $84,000. Spire Wealth Management acquired a new position in shares of D-Wave Quantum in the 4th quarter valued at about $90,000. Finally, Rhumbline Advisers acquired a new stake in D-Wave Quantum during the second quarter worth about $93,000. Institutional investors own 42.47% of the company’s stock.

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.