54,700 Shares in D-Wave Quantum Inc. $QBTS Purchased by VIRGINIA RETIREMENT SYSTEMS ET Al

VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in D-Wave Quantum Inc. (NASDAQ:QBTS) in the second quarter, Holdings Channel.com reports. The firm purchased 54,700 shares of the company’s stock, valued at approximately $1,312,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. BlackRock Inc. acquired a new stake in shares of D-Wave Quantum during the second quarter worth approximately $795,206,000. UBS Group AG boosted its stake in D-Wave Quantum by 541.6% during the 3rd quarter. UBS Group AG now owns 12,089,703 shares of the company’s stock valued at $298,737,000 after acquiring an additional 10,205,427 shares during the last quarter. California State Teachers Retirement System grew its holdings in D-Wave Quantum by 2,336.6% during the 2nd quarter. California State Teachers Retirement System now owns 9,922,576 shares of the company’s stock worth $238,043,000 after acquiring an additional 9,515,341 shares in the last quarter. Bank of America Corp DE acquired a new position in D-Wave Quantum during the 2nd quarter worth $104,183,000. Finally, Northwestern Mutual Wealth Management Co. increased its position in shares of D-Wave Quantum by 136,842.4% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 3,194,866 shares of the company’s stock worth $83,546,000 after purchasing an additional 3,192,533 shares during the last quarter. 42.47% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on QBTS. Rosenblatt Securities restated a “buy” rating and issued a $43.00 target price on shares of D-Wave Quantum in a research note on Friday, August 7th. Benchmark initiated coverage on D-Wave Quantum in a research note on Monday, July 27th. They issued a “buy” rating and a $30.00 price target for the company. Wall Street Zen raised D-Wave Quantum from a “strong sell” rating to a “sell” rating in a report on Saturday, August 8th. Jefferies Financial Group set a $40.00 price objective on D-Wave Quantum in a research note on Friday, August 7th. Finally, Zacks Research downgraded D-Wave Quantum from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 18th. Thirteen equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $36.27.

Key D-Wave Quantum News

Here are the key news stories impacting D-Wave Quantum this week:

• Positive Sentiment: D-Wave finalized a definitive agreement with the U.S. Department of Commerce for up to $100 million under the CHIPS and Science Act. The funding is expected to extend D-Wave’s cash runway, support domestic quantum-computing development, and provide a significant vote of confidence from Washington. D-Wave finalizes Department of Commerce agreement
• Positive Sentiment: The broader government initiative provides up to $300 million in minority equity investments across D-Wave, Rigetti, and Quantinuum. Federal participation could improve D-Wave’s financial position, raise the sector’s profile, and support future customer and commercial adoption. Uncle Sam’s Quantum Leap
• Neutral Sentiment: D-Wave issued approximately 7.1 million shares to the U.S. government as part of the funding arrangement. The capital is favorable for liquidity, but the new shares will dilute existing shareholders. D-Wave issues shares under CHIPS deal
• Neutral Sentiment: Director John DiLullo sold 1,100 shares for $19,800 under a pre-arranged Rule 10b5-1 trading plan. Because the sale was scheduled in advance and represents a relatively small transaction, it provides limited information about management’s current outlook. D-Wave director share sale
• Negative Sentiment: Several law firms announced investigations into potential securities-law violations involving D-Wave. The announcements create headline and litigation risk, although they do not establish wrongdoing. QBTS investigation alert
• Negative Sentiment: D-Wave remains unprofitable, and its latest quarterly revenue of $3.08 million missed expectations while adjusted loss per share was wider than forecast. Its very high valuation and dependence on future quantum-computing growth could continue to pressure the stock if commercial revenue does not accelerate.

D-Wave Quantum Stock Up 0.8%

QBTS stock opened at $16.80 on Friday. The firm has a market cap of $6.21 billion, a price-to-earnings ratio of -23.66 and a beta of 2.15. D-Wave Quantum Inc. has a 1-year low of $12.75 and a 1-year high of $46.75. The firm has a fifty day moving average price of $18.68 and a two-hundred day moving average price of $19.98. The company has a debt-to-equity ratio of 0.03, a current ratio of 20.55 and a quick ratio of 20.42.

D-Wave Quantum (NASDAQ:QBTS) last posted its quarterly earnings results on Thursday, August 6th. The company reported ($0.10) EPS for the quarter, missing the consensus estimate of ($0.08) by ($0.02). D-Wave Quantum had a negative net margin of 2,001.59% and a negative return on equity of 26.67%. The business had revenue of $3.08 million during the quarter, compared to analyst estimates of $4.03 million. During the same period last year, the firm posted ($0.08) earnings per share. The company’s quarterly revenue was down 0.6 on a year-over-year basis. Research analysts predict that D-Wave Quantum Inc. will post -0.46 EPS for the current year.

Insider Buying and Selling

In other D-Wave Quantum news, Director Rohit Ghai sold 13,518 shares of D-Wave Quantum stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $26.41, for a total value of $357,010.38. Following the completion of the transaction, the director directly owned 23,617 shares in the company, valued at $623,724.97. The trade was a 36.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Sophie C. Ames sold 3,070 shares of the company’s stock in a transaction that occurred on Monday, July 20th. The shares were sold at an average price of $16.95, for a total value of $52,036.50. Following the transaction, the vice president directly owned 589,009 shares of the company’s stock, valued at $9,983,702.55. This trade represents a 0.52% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 217,688 shares of company stock worth $5,570,847 over the last quarter. 1.30% of the stock is owned by company insiders.

About D-Wave Quantum

D-Wave Quantum Inc develops quantum computing systems, software, and services for commercial, government, and research customers. The company is best known for its quantum annealing technology, which is designed to help solve complex optimization problems involving areas such as logistics, scheduling, manufacturing, artificial intelligence, and financial modeling.

D-Wave also develops gate-model quantum computing technology and provides access to its systems through cloud-based services, including the Leap quantum application environment.