D-Wave Quantum Inc. (NYSE:QBTS) Shares Acquired by JPMorgan Chase & Co.

JPMorgan Chase & Co. increased its stake in shares of D-Wave Quantum Inc. (NYSE:QBTS) by 20.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 46,804 shares of the company’s stock after acquiring an additional 8,001 shares during the period. JPMorgan Chase & Co.’s holdings in D-Wave Quantum were worth $393,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Corebridge Financial Inc. boosted its position in D-Wave Quantum by 5.0% in the 4th quarter. Corebridge Financial Inc. now owns 49,174 shares of the company’s stock worth $413,000 after purchasing an additional 2,342 shares in the last quarter. Steward Partners Investment Advisory LLC boosted its holdings in D-Wave Quantum by 38.9% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 13,060 shares of the company’s stock worth $110,000 after buying an additional 3,660 shares in the last quarter. PNC Financial Services Group Inc. acquired a new stake in D-Wave Quantum during the fourth quarter valued at $38,000. Heritage Wealth Advisors purchased a new position in D-Wave Quantum in the fourth quarter valued at $67,000. Finally, Kingsview Wealth Management LLC purchased a new position in D-Wave Quantum in the fourth quarter valued at $84,000. 42.47% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. B. Riley raised their target price on 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 raised their price objective on D-Wave Quantum from $7.00 to $10.00 and gave the company a “buy” rating in a report on Friday, March 14th. Benchmark reaffirmed a “buy” rating and set a $8.00 target price on shares of D-Wave Quantum in a research note on Friday, March 14th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $8.50 price target on shares of D-Wave Quantum in a research note on Wednesday, April 2nd. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $8.42.

D-Wave Quantum Stock Up 0.9 %

D-Wave Quantum stock opened at $6.97 on Friday. The company has a fifty day simple moving average of $7.05 and a 200-day simple moving average of $5.47. The firm has a market capitalization of $2.03 billion, a price-to-earnings ratio of -16.60 and a beta of 0.88. D-Wave Quantum Inc. has a 52-week low of $0.75 and a 52-week high of $11.95.

D-Wave Quantum (NYSE:QBTS) last announced its quarterly earnings data on Thursday, March 13th. The company reported ($0.37) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.28). The company had revenue of $2.31 million for the quarter, compared to the consensus estimate of $2.23 million. On average, research analysts anticipate that D-Wave Quantum Inc. will post -0.41 EPS for the current fiscal year.

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.