Quantum Biopharma (NASDAQ:QNTM) Stock Rating Raised to Hold at Wall Street Zen

Quantum Biopharma (NASDAQ:QNTM) was upgraded by investment analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Saturday, Wall Street Zen reports.

Several other analysts have also recently commented on the company. Rodman & Renshaw began coverage on Quantum Biopharma in a research report on Monday, August 31st. They set a “buy” rating and a $8.00 price target for the company. Weiss Ratings lowered Quantum Biopharma from a “sell (d-)” rating to a “sell (e+)” rating in a report on Monday, November 2nd. One analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $8.00.

Quantum Biopharma Trading Down 9.6%

NASDAQ:QNTM opened at $1.61 on Friday. The stock has a 50 day moving average of $2.90 and a two-hundred day moving average of $3.68. Quantum Biopharma has a 12 month low of $1.60 and a 12 month high of $12.42.

Quantum Biopharma (NASDAQ:QNTM) last released its earnings results on Thursday, November 12th. The company reported ($0.06) earnings per share for the quarter, beating the consensus estimate of ($0.50) by $0.44.

Institutional Inflows and Outflows

A hedge fund recently raised its position in Quantum Biopharma stock. Steward Partners Investment Advisory LLC boosted its stake in shares of Quantum Biopharma Ltd. (NASDAQ:QNTM) by 46.8% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 40,942 shares of the company’s stock after buying an additional 13,061 shares during the period. Steward Partners Investment Advisory LLC owned 0.51% of Quantum Biopharma worth $147,000 at the end of the most recent quarter. 1.24% of the stock is owned by institutional investors.

Quantum Biopharma Company Profile

Quantum BioPharma Ltd. is a biotechnology company focused on developing treatments for neurodegenerative and neurological disorders. Its lead drug candidate, Lucid-21-302, also known as Lucid-MS, is an orally administered small molecule being developed as a potential therapy for multiple sclerosis. The company is investigating the compound’s ability to protect nerve cells and promote remyelination, or the repair of damaged myelin. Quantum BioPharma is also pursuing additional applications for its drug-development platform, including potential treatments for other neurodegenerative and mental health conditions.