D-Wave Quantum (QBTS) slides 5.1% amid post-rally profit-taking and lingering secondary-resale overhang

D-Wave Quantum Inc. (QBTS) is down 5.1% today. Here is some analysis on what might have caused this price movement.

Analysis: There does not appear to be a single, company-specific headline driving today’s decline. The move looks consistent with profit-taking after recent quantum-sector volatility, with some investors also remaining sensitive to potential share-supply overhang tied to previously registered resale shares from the Quantum Circuits transaction.

Details:

D-Wave completed its Quantum Circuits acquisition on January 20, 2026, paying cash plus 10,430,444 common shares, which introduced a large block of stock consideration tied to the deal.

The company also filed documentation to register the resale of up to 10,430,444 shares by selling stockholders, a structure that can weigh on sentiment even when it does not represent new shares issued by the company.

In late February, D-Wave highlighted strong early-2026 bookings momentum and disclosed additional post-quarter commercial activity, which may have contributed to prior gains that are now being retraced.

Short interest has been elevated recently (mid-to-high teens as a percentage of shares), which can amplify day-to-day swings as positioning shifts.

Sources:

SEC, D-Wave Quantum Investor Relations, ChartExchange

Disclaimer: This price movement analysis was generated with the help of AI. Please double-check the information provided for mistakes.

$QBTS Insider Trading Activity

$QBTS insiders have traded $QBTS stock on the open market 25 times in the past 6 months. Of those trades, 1 have been purchases and 24 have been sales.

Here’s a breakdown of recent trading of $QBTS stock by insiders over the last 6 months:

ALAN E BARATZ (President & CEO) has made 0 purchases and 4 sales selling 1,803,115 shares for an estimated $52,067,727.
JOHN M. MARKOVICH (Chief Financial Officer) has made 0 purchases and 8 sales selling 629,507 shares for an estimated $15,846,675.
DIANE NGUYEN (EVP, Chief Legal Officer & GC) has made 0 purchases and 7 sales selling 54,038 shares for an estimated $1,380,819.
ROHIT GHAI has made 0 purchases and 2 sales selling 20,000 shares for an estimated $419,009.
JOHN D DILULLO has made 0 purchases and 2 sales selling 16,000 shares for an estimated $362,987.
KIRSTJEN NIELSEN sold 7,000 shares for an estimated $158,340
STEVEN M WEST purchased 82 shares for an estimated $1,794

To track insider transactions, check out Quiver Quantitative's insider trading dashboard.

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$QBTS Hedge Fund Activity

We have seen 273 institutional investors add shares of $QBTS stock to their portfolio, and 231 decrease their positions in their most recent quarter.

Here are some of the largest recent moves:

D. E. SHAW & CO., INC. removed 13,555,579 shares (-99.3%) from their portfolio in Q4 2025, for an estimated $354,478,390
MORGAN STANLEY removed 3,789,768 shares (-59.8%) from their portfolio in Q4 2025, for an estimated $99,102,433
NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO added 3,192,533 shares (+136842.4%) to their portfolio in Q4 2025, for an estimated $83,484,737
PRICE T ROWE ASSOCIATES INC /MD/ removed 3,037,038 shares (-66.3%) from their portfolio in Q4 2025, for an estimated $79,418,543
DRIEHAUS CAPITAL MANAGEMENT LLC removed 2,443,818 shares (-100.0%) from their portfolio in Q4 2025, for an estimated $63,905,840
BLACKROCK, INC. added 1,997,206 shares (+7.6%) to their portfolio in Q4 2025, for an estimated $52,226,936
MAREX GROUP PLC added 1,966,500 shares (+74.9%) to their portfolio in Q4 2025, for an estimated $51,423,975

To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.

$QBTS Analyst Ratings

Wall Street analysts have issued reports on $QBTS in the last several months. We have seen 6 firms issue buy ratings on the stock, and 0 firms issue sell ratings.

Here are some recent analyst ratings:

Rosenblatt issued a "Buy" rating on 01/28/2026
Wedbush issued a "Outperform" rating on 12/17/2025
Mizuho issued a "Outperform" rating on 12/11/2025
Benchmark issued a "Buy" rating on 11/10/2025
Cantor Fitzgerald issued a "Overweight" rating on 11/07/2025
Canaccord Genuity issued a "Buy" rating on 11/07/2025

To track analyst ratings and price targets for $QBTS, check out Quiver Quantitative's $QBTS forecast page.

$QBTS Price Targets

Multiple analysts have issued price targets for $QBTS recently. We have seen 10 analysts offer price targets for $QBTS in the last 6 months, with a median target of $40.0.

Here are some recent targets:

Suji Desilva from Roth Capital set a target price of $30.0 on 02/27/2026
Mark Lipacis from Evercore ISI Group set a target price of $42.0 on 02/27/2026
Vijay Rakesh from Mizuho set a target price of $40.0 on 02/27/2026
N. Quinn Bolton from Needham set a target price of $40.0 on 02/26/2026
John McPeake from Rosenblatt set a target price of $43.0 on 01/28/2026
David Williams from Benchmark set a target price of $35.0 on 01/23/2026
Antoine Legault from Wedbush set a target price of $35.0 on 12/17/2025

This article is not financial advice. See Quiver Quantitative's disclaimers for more information. Note that there may be inaccuracies due to mistakes in ticker-mapping, and other anomalies.