Why D-Wave Quantum (QBTS) Stock Is Down Today

D-Wave Quantum (QBTS) is down 9.4% today. Here is some analysis on what might have caused this price movement.

Analysis: The drop looks like a pullback after a very strong move in the prior session rather than a clear new negative catalyst. This could be because traders are taking profits after enthusiasm tied to D-Wave’s expanded AT&T relationship and its first day trading on Nasdaq pushed the stock sharply higher on July 27.

Details:

D-Wave said on July 27 that AT&T signed an agreement to expand use of its quantum computing technology across network operations, adding a fresh commercial-use case for the company’s platform.

In that announcement, D-Wave said early work helped cut an AT&T network optimization workload from about one hour to less than 15 seconds, and the companies plan to explore broader uses such as outage response, technician routing, network build planning, and traffic management.

D-Wave also began trading on Nasdaq on July 27 after announcing earlier in July that it would transfer its listing from the New York Stock Exchange, which likely added momentum and extra attention to the stock.

Short interest in QBTS has remained elevated at roughly 17.8% of float in mid-July, which can amplify both rallies and reversals when momentum shifts.

Sources:

D-Wave Quantum, SEC, MarketBeat

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 19 times in the past 6 months. Of those trades, 0 have been purchases and 19 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 8 sales selling 639,458 shares for an estimated $16,974,557.
DIANE NGUYEN (EVP, Chief Legal Officer & GC) has made 0 purchases and 3 sales selling 43,983 shares for an estimated $1,073,864.
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 has made 0 purchases and 2 sales selling 23,518 shares for an estimated $533,222.
JOHN D DILULLO has made 0 purchases and 2 sales selling 15,850 shares for an estimated $335,906.

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.

$QBTS Hedge Fund Activity

We have seen 259 institutional investors add shares of $QBTS stock to their portfolio, and 214 decrease their positions in their most recent quarter.

Here are some of the largest recent moves:

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 added 3,359,551 shares (+inf%) to their portfolio in Q1 2026, for an estimated $48,478,320
NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO removed 3,192,837 shares (-99.9%) from their portfolio in Q1 2026, for an estimated $46,072,637
JANE STREET GROUP, LLC added 2,369,236 shares (+18135.6%) to their portfolio in Q1 2026, for an estimated $34,188,075
VOLORIDGE INVESTMENT MANAGEMENT, LLC added 2,124,315 shares (+inf%) to their portfolio in Q1 2026, for an estimated $30,653,865
BLACKROCK, INC. added 1,955,487 shares (+6.9%) to their portfolio in Q1 2026, for an estimated $28,217,677
TRYBE CAPITAL MANAGEMENT LP removed 1,936,922 shares (-100.0%) from their portfolio in Q1 2026, for an estimated $27,949,784

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 8 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.