Modera Wealth Management LLC Makes New Investment in Quantum Computing Inc. $QUBT

Modera Wealth Management LLC purchased a new position in shares of Quantum Computing Inc. (NASDAQ:QUBT) in the fourth quarter, Holdings Channel.com reports. The firm purchased 85,726 shares of the company’s stock, valued at approximately $880,000.

A number of other institutional investors also recently bought and sold shares of QUBT. Vanguard Group Inc. lifted its holdings in shares of Quantum Computing by 23.1% in the 3rd quarter. Vanguard Group Inc. now owns 12,197,605 shares of the company’s stock valued at $224,558,000 after purchasing an additional 2,286,514 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Quantum Computing by 1,612.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 933,925 shares of the company’s stock valued at $17,194,000 after purchasing an additional 879,374 shares during the last quarter. Ghisallo Capital Management LLC purchased a new stake in shares of Quantum Computing in the 3rd quarter valued at about $74,194,000. Polar Asset Management Partners Inc. lifted its holdings in shares of Quantum Computing by 72.3% in the 3rd quarter. Polar Asset Management Partners Inc. now owns 2,686,727 shares of the company’s stock valued at $48,643,000 after purchasing an additional 1,127,427 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd purchased a new stake in shares of Quantum Computing in the 3rd quarter valued at about $5,439,000. 4.26% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on QUBT shares. Cantor Fitzgerald reduced their target price on Quantum Computing from $15.00 to $10.00 and set a “neutral” rating for the company in a report on Tuesday, March 3rd. Ascendiant Capital Markets reduced their target price on Quantum Computing from $40.00 to $25.00 and set a “buy” rating for the company in a report on Monday, December 22nd. Weiss Ratings reissued a “sell (d-)” rating on shares of Quantum Computing in a report on Friday, March 27th. Wedbush started coverage on Quantum Computing in a report on Wednesday, December 17th. They issued a “neutral” rating and a $12.00 target price for the company. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $22.00 target price on shares of Quantum Computing in a report on Tuesday, March 3rd. Three analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $17.00.

Insider Transactions at Quantum Computing

In related news, CFO Christopher Bruce Roberts sold 68,902 shares of the business’s stock in a transaction dated Tuesday, March 10th. The stock was sold at an average price of $7.85, for a total value of $540,880.70. Following the transaction, the chief financial officer owned 1,132,398 shares in the company, valued at $8,889,324.30. The trade was a 5.74% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 19.30% of the stock is owned by company insiders.

Quantum Computing Stock Up 2.4%

Shares of QUBT stock opened at $6.93 on Thursday. The stock has a market capitalization of $1.56 billion, a PE ratio of -46.20 and a beta of 3.67. Quantum Computing Inc. has a 52-week low of $5.76 and a 52-week high of $25.84. The stock’s 50-day moving average price is $7.90 and its 200 day moving average price is $11.92.

Quantum Computing (NASDAQ:QUBT) last issued its quarterly earnings results on Monday, March 2nd. The company reported ($0.01) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.04) by $0.03. The company had revenue of $0.20 million during the quarter, compared to analyst estimates of $0.39 million.

About Quantum Computing

Quantum Computing Inc (NASDAQ: QUBT) is a provider of quantum computing and quantum-inspired algorithm solutions, headquartered in the United States with research and development operations in Europe. Originally incorporated as Unigrid Software in 2019, the company rebranded in 2021 to reflect its strategic focus on commercializing emerging quantum technologies for enterprise and government customers.

The company’s flagship product, Qatalyst, is a quantum-inspired optimization platform that applies advanced heuristic solvers to address complex combinatorial problems in logistics, supply chain management, finance and other data-intensive fields.