Intech Investment Management LLC Invests $473,000 in D-Wave Quantum Inc. (NYSE:QBTS)

Intech Investment Management LLC acquired a new position in D-Wave Quantum Inc. (NYSE:QBTS) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 56,345 shares of the company’s stock, valued at approximately $473,000.

A number of other institutional investors have also recently made changes to their positions in QBTS. PNC Financial Services Group Inc. purchased a new position in shares of D-Wave Quantum during the 4th quarter valued at about $38,000. Kingsview Wealth Management LLC purchased a new position in shares of D-Wave Quantum during the fourth quarter worth approximately $84,000. Spire Wealth Management bought a new stake in shares of D-Wave Quantum in the 4th quarter worth approximately $90,000. Vontobel Holding Ltd. purchased a new stake in shares of D-Wave Quantum in the 4th quarter valued at $105,000. Finally, Truist Financial Corp bought a new position in shares of D-Wave Quantum during the 4th quarter valued at $108,000. Institutional investors own 42.47% of the company’s stock.

D-Wave Quantum Stock Performance

Shares of QBTS stock opened at $8.72 on Tuesday. The firm has a market cap of $2.35 billion, a P/E ratio of -20.75 and a beta of 1.12. The business’s 50 day moving average price is $6.40 and its 200-day moving average price is $4.28. D-Wave Quantum Inc. has a fifty-two week low of $0.75 and a fifty-two week high of $11.95.

D-Wave Quantum (NYSE:QBTS) last issued its quarterly earnings data on Thursday, March 13th. The company reported ($0.37) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.28). The business had revenue of $2.31 million for the quarter, compared to analyst estimates of $2.23 million. As a group, equities analysts predict that D-Wave Quantum Inc. will post -0.41 EPS for the current year.

Analysts Set New Price Targets

Several analysts have weighed in on QBTS shares. Craig Hallum boosted their price target on shares of D-Wave Quantum from $2.50 to $9.00 and gave the stock a “buy” rating in a research note on Friday, December 20th. Needham & Company LLC restated a “buy” rating and set a $8.50 target price on shares of D-Wave Quantum in a report on Friday, March 14th. Benchmark restated a “buy” rating and set a $8.00 price target on shares of D-Wave Quantum in a research report on Friday, March 14th. B. Riley increased their price objective on D-Wave Quantum from $11.00 to $12.00 and gave the company a “buy” rating in a research note on Friday, March 14th. Finally, Roth Mkm lifted their target price on shares of D-Wave Quantum from $7.00 to $10.00 and gave the stock a “buy” rating in a research note on Friday, March 14th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat, D-Wave Quantum currently has an average rating of “Buy” and an average target price of $8.42.

Insider Buying and Selling

In other news, CFO John M. Markovich sold 5,582 shares of the stock in a transaction that occurred on Thursday, January 23rd. The stock was sold at an average price of $5.27, for a total value of $29,417.14. Following the completion of the transaction, the chief financial officer now owns 1,064,556 shares of the company’s stock, valued at approximately $5,610,210.12. This represents a 0.52 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 value of $44,120.44. Following the sale, the chief executive officer now owns 2,342,208 shares in the company, valued at $12,343,436.16. This represents a 0.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 10,071,206 shares of company stock valued at $46,758,181 over the last three months. Corporate insiders own 7.22% of the company’s stock.

D-Wave Quantum 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.