Morgan Stanley Reduces $1M in D-Wave Quantum Inc. ($QBTS)
Key Points
- Morgan Stanley changed its D-Wave Quantum Inc. ($QBTS) stake by 67.2% last quarter, cutting to 21,332 shares worth $498,529.
- Wall Street's consensus rating on $QBTS is Strong Buy and an average price target of $36.44.
- $QBTS last traded around $23.37.
Morgan Stanley reduced its position in D-Wave Quantum Inc. ($QBTS) by 67.2% during the most recent quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 21,332 shares of D-Wave Quantum Inc. after selling 43,668 shares during the quarter. Morgan Stanley's holdings in D-Wave Quantum Inc. were worth $498,529 as of its most recent filing.
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About D-Wave Quantum Inc.
D-Wave Quantum Inc. engages in the development and delivery of quantum computing systems, software, and services worldwide. It provides Advantage and Advantage 2 quantum computers; Ocean, a suite of open-source tools; and Leap quantum cloud service, a cloud-based service that provides real-time access to quantum computers and quantum hybrid solvers; and secure access and data protection services, as well as Ocean software development kit (SDK), a Python-based SDK for developers to learn and build applications on company's server. The company also provides Leap hybrid solver service that offers a combination of quantum and classical computation resources and advanced algorithms to solve problems of enterprise scale; and D-Wave Launch, a phased approach to identify and build in-production quantum hybrid applications, including training sessions and quantum computing access. In addition, the company offers D-Wave Advantage annealing quantum computing systems; and Ocean developer tools. Its quantum solutions are used in allocation, resource scheduling, factory scheduling, vehicle routing, logistics optimization, drug discovery, industrial construction design, portfolio optimization and maintenance, repair, and overhaul optimization. D-Wave Quantum Inc. was founded in 1999 and is based in Palo Alto, California.
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