Quantum Biopharma (NASDAQ:QNTM) Shares Up 2.4% – Should You Buy?

Quantum Biopharma Ltd. (NASDAQ:QNTM) rose 2.4% on Wednesday . The stock traded as high as $18.13 and last traded at $16.75. Approximately 97,729 shares traded hands during trading, a decline of 45% from the average daily volume of 176,677 shares. The stock had previously closed at $16.35.

Analyst Upgrades and Downgrades

QNTM has been the topic of several recent research reports. Singular Research upgraded Quantum Biopharma to a “moderate buy” rating in a report on Wednesday, June 18th. Wall Street Zen raised Quantum Biopharma from a “sell” rating to a “hold” rating in a report on Saturday, June 7th.

Quantum Biopharma Trading Up 2.4%

The company has a market cap of $64.99 million, a PE ratio of -1.19 and a beta of 0.71. The stock has a fifty day simple moving average of $22.06 and a two-hundred day simple moving average of $13.57.

Quantum Biopharma (NASDAQ:QNTM) last posted its quarterly earnings results on Wednesday, August 6th. The company reported ($3.23) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.17) by ($3.06). As a group, equities research analysts anticipate that Quantum Biopharma Ltd. will post -3.27 EPS for the current fiscal year.

Institutional Trading of Quantum Biopharma

A hedge fund recently bought a new stake in Quantum Biopharma stock. Steward Partners Investment Advisory LLC acquired a new position in shares of Quantum Biopharma Ltd. (NASDAQ:QNTM) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 3,100 shares of the company’s stock, valued at approximately $63,000. Steward Partners Investment Advisory LLC owned approximately 0.11% of Quantum Biopharma at the end of the most recent quarter. 1.24% of the stock is owned by institutional investors and hedge funds.

About Quantum Biopharma

Quantum Biopharma Ltd. is a biotechnology pharmaceutical research and development company, which focuses on the cultivation, process, and sale of medical cannabis. It operates through the Biotechnology and Strategic Investments segments. The Biotechnology segment is involved in the research and development of the company’s three drug candidates consisting of FSD-PEA, Lucid-PSYCH, and Lucid-MS.