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 that occurred 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 sale, the chief executive officer now owns 2,342,208 shares in the company, valued at approximately $12,343,436.16. The trade was a 0.36 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

D-Wave Quantum Stock Performance

Shares of D-Wave Quantum stock opened at $5.51 on Thursday. The stock has a market cap of $1.48 billion, a price-to-earnings ratio of -13.11 and a beta of 1.16. The stock has a 50 day moving average price of $5.82 and a 200-day moving average price of $2.73. D-Wave Quantum Inc. has a one year low of $0.75 and a one year high of $11.41.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. UNICOM Systems Inc. bought a new stake in shares of D-Wave Quantum in the 4th quarter worth about $20,258,000. Stephens Inc. AR purchased a new stake in D-Wave Quantum in the 4th quarter worth about $494,000. AlphaStar Capital Management LLC bought a new stake in D-Wave Quantum in the fourth quarter worth about $225,000. Kingsview Wealth Management LLC purchased a new position in shares of D-Wave Quantum during the fourth quarter valued at approximately $84,000. Finally, Spire Wealth Management bought a new position in shares of D-Wave Quantum during the fourth quarter valued at approximately $90,000. 42.47% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have issued reports on QBTS shares. Craig Hallum lifted their price target 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 reiterated a “buy” rating and issued a $8.00 target price on shares of D-Wave Quantum in a research report on Tuesday, January 14th. B. Riley raised their price target on D-Wave Quantum from $4.50 to $9.00 and gave the company a “buy” rating in a report on Tuesday, January 14th. Needham & Company LLC reiterated a “buy” rating and set a $2.25 target price on shares of D-Wave Quantum in a research report on Friday, November 15th. Finally, Roth Mkm raised their target price on shares of D-Wave Quantum from $3.00 to $7.00 and gave the company a “buy” rating in a report on Thursday, December 12th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat, D-Wave Quantum has a consensus rating of “Buy” and a consensus price target 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.