D-Wave Quantum Jumps as Investors Lean Into Quantum Trade

D-Wave Quantum Inc. (QBTS) is up 9.0% today. Here is some analysis on what might have caused this price movement.

Analysis: The move appears to be driven by a mix of sector-wide momentum and continued interest in D-Wave’s recent company-specific announcements. This could be because investors are reacting to fresh enthusiasm around quantum computing peers while also revisiting D-Wave’s newly finalized U.S. government funding agreement and its latest product showcase plans.

Details:

D-Wave announced on September 8 that it finalized a definitive agreement with the U.S. Department of Commerce for access to up to $100 million under the CHIPS and Science Act, with the funding aimed at advancing both its annealing and gate-model quantum systems.

The company said the award is intended to support next-generation systems, including a 100,000-qubit annealing platform and a 10,000-qubit gate-model system, reinforcing its long-term technology roadmap.

An SEC filing dated September 15 included a press release about D-Wave’s participation in Quantum World Congress 2026, where it plans to highlight customer applications already running in production and discuss progress in its dual-rail gate-model architecture.

Quantum stocks broadly traded higher today, and D-Wave appears to have benefited from that thematic buying as investors treated the group as a momentum basket rather than focusing only on near-term fundamentals.

Sources:

D-Wave, SEC, 24/7 Wall St.

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 15 times in the past 6 months. Of those trades, 0 have been purchases and 15 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) sold 687,627 shares for an estimated $17,967,693
JOHN M. MARKOVICH (Chief Financial Officer) has made 0 purchases and 7 sales selling 628,752 shares for an estimated $16,785,833.
DIANE NGUYEN (EVP, Chief Legal Officer & GC) sold 40,000 shares for an estimated $1,000,560
SOPHIE C AMES (Exec. Vice President & CHRO) has made 0 purchases and 3 sales selling 29,165 shares for an estimated $554,524.
ROHIT GHAI sold 13,518 shares for an estimated $357,054
JOHN D DILULLO has made 0 purchases and 2 sales selling 8,950 shares for an estimated $211,609.

To track insider transactions, check out Quiver Quantitative's insider trading dashboard. You can access data on insider stock transactions through the Quiver Quantitative API insider transaction endpoint.

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$QBTS Hedge Fund Activity

We have seen 356 institutional investors add shares of $QBTS stock to their portfolio, and 236 decrease their positions in their most recent quarter.

Here are some of the largest recent moves:

NORGES BANK added 4,318,454 shares (+2715.9%) to their portfolio in Q2 2026, for an estimated $103,599,711
MAREX GROUP PLC removed 3,599,466 shares (-78.4%) from their portfolio in Q1 2026, for an estimated $51,940,294
HRT FINANCIAL LP removed 3,359,551 shares (-100.0%) from their portfolio in Q2 2026, for an estimated $80,595,628
SIXTH STREET PARTNERS MANAGEMENT COMPANY, L.P. added 3,284,474 shares (+inf%) to their portfolio in Q2 2026, for an estimated $78,794,531
BLACKROCK, INC. added 2,993,471 shares (+9.9%) to their portfolio in Q2 2026, for an estimated $71,813,369
JPMORGAN CHASE & CO added 2,744,938 shares (+inf%) to their portfolio in Q2 2026, for an estimated $65,851,062
DEFIANCE ETFS, LLC added 2,570,193 shares (+751.8%) to their portfolio in Q2 2026, for an estimated $61,658,930

To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard. You can access data on hedge funds moves and 13F filings through the Quiver Quantitative API 13F endpoint.

$QBTS Analyst Ratings

Wall Street analysts have issued reports on $QBTS in the last several months. We have seen 1 firms issue buy ratings on the stock, and 0 firms issue sell ratings.

Here are some recent analyst ratings:

Needham issued a "Buy" rating on 05/13/2026

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 7 analysts offer price targets for $QBTS in the last 6 months, with a median target of $40.0.

Here are some recent targets:

Vijay Rakesh from Mizuho set a target price of $35.0 on 06/15/2026
John McPeake from Rosenblatt set a target price of $43.0 on 06/11/2026
N. Quinn Bolton from Needham set a target price of $40.0 on 06/02/2026
Craig Ellis from B. Riley Securities set a target price of $40.0 on 06/02/2026
Suji Desilva from Roth Capital set a target price of $40.0 on 06/02/2026
Troy Jensen from Cantor Fitzgerald set a target price of $40.0 on 05/13/2026
Kingsley Crane from Canaccord Genuity set a target price of $41.0 on 05/13/2026

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.