Lisanti Capital Growth LLC Takes Position in D-Wave Quantum Inc. $QBTS

Posted by Stanley Muller on Aug 20th, 2026

Lisanti Capital Growth LLC bought a new position in shares of D-Wave Quantum Inc. (NASDAQ:QBTS – Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 112,955 shares of the company’s stock, valued at approximately $2,710,000.

Other hedge funds also recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new stake in D-Wave Quantum during the second quarter worth approximately $795,206,000. UBS Group AG lifted its position in D-Wave Quantum by 541.6% in the third quarter. UBS Group AG now owns 12,089,703 shares of the company’s stock valued at $298,737,000 after acquiring an additional 10,205,427 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of D-Wave Quantum by 11.5% during the fourth quarter. Geode Capital Management LLC now owns 8,394,726 shares of the company’s stock worth $220,085,000 after purchasing an additional 866,405 shares during the last quarter. State Street Corp lifted its holdings in shares of D-Wave Quantum by 5.3% in the 4th quarter. State Street Corp now owns 7,707,085 shares of the company’s stock valued at $201,540,000 after purchasing an additional 385,809 shares during the last quarter. Finally, Marex Group plc grew its stake in D-Wave Quantum by 74.9% during the 4th quarter. Marex Group plc now owns 4,592,656 shares of the company’s stock worth $120,098,000 after buying an additional 1,966,500 shares during the last quarter. 42.47% of the stock is currently owned by hedge funds and other institutional investors.

Trending Headlines about D-Wave Quantum

Here are the key news stories impacting D-Wave Quantum this week:

Positive Sentiment: Commercial adoption is expanding. NTT DOCOMO deployed a second D-Wave-powered quantum application in production for network operations. The development provides evidence that D-Wave’s technology is moving beyond experimentation toward real-world enterprise use. D-Wave Technology Drives NTT DOCOMO’s Second Production Quantum Application in Network Operations
Positive Sentiment: Bookings showed significant momentum. A recent comparison article highlighted a 1,120% year-over-year increase in second-quarter bookings to $36 million, suggesting potential for future revenue growth if the company converts bookings into recognized sales. D-Wave Quantum vs. Microsoft
Positive Sentiment: Sector and policy catalysts remain supportive. Coverage points to recent U.S. quantum initiatives and the intensifying U.S.-China technology race as potential long-term tailwinds for D-Wave and other quantum-computing companies. U.S.-China 2026 Tech Race
Neutral Sentiment: Analysts see substantial upside, but execution is critical. One review cited approximately 71% implied price upside while warning that investors need evidence of bookings translating into revenue. Quantum-focused investors are also comparing individual stocks such as QBTS with diversified ETFs. D-Wave Stock: 71% Potential Upside
Negative Sentiment: Valuation and profitability remain major risks. D-Wave has minimal revenue, remains unprofitable and trades at a valuation that critics describe as excessive. Its latest quarterly revenue also came in below expectations, increasing the importance of future commercial conversion.
Negative Sentiment: Higher interest rates are hurting speculative stocks. A rise in long-term Treasury yields triggered a broad rotation out of high-risk technology names, including quantum stocks, weighing on QBTS alongside IonQ and Rigetti. Quantum Stocks Fall as Rates Force Rotation

D-Wave Quantum Trading Down 1.1%

Shares of QBTS stock opened at $19.32 on Thursday. The business’s fifty day moving average price is $20.78 and its 200 day moving average price is $20.25. The firm has a market capitalization of $7.15 billion, a PE ratio of -27.21 and a beta of 2.15. The company has a debt-to-equity ratio of 0.03, a current ratio of 20.55 and a quick ratio of 20.42. D-Wave Quantum Inc. has a 1-year low of $12.75 and a 1-year high of $46.75.

D-Wave Quantum (NASDAQ:QBTS – Get Free Report) last released its earnings results on Thursday, August 6th. The company reported ($0.10) EPS for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.02). D-Wave Quantum had a negative net margin of 2,001.59% and a negative return on equity of 26.67%. The business had revenue of $3.08 million during the quarter, compared to analyst estimates of $4.03 million. During the same period last year, the business posted ($0.08) EPS. D-Wave Quantum’s revenue was down 0.6 compared to the same quarter last year. As a group, sell-side analysts forecast that D-Wave Quantum Inc. will post -0.46 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have weighed in on QBTS shares. Stifel Nicolaus set a $35.00 price objective on D-Wave Quantum in a research note on Tuesday, June 2nd. Wedbush began coverage on shares of D-Wave Quantum in a research report on Monday, August 3rd. They issued an “outperform” rating and a $40.00 price target for the company. Weiss Ratings downgraded shares of D-Wave Quantum from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday, August 11th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $43.00 target price on shares of D-Wave Quantum in a report on Friday, August 7th. Finally, Mizuho raised their price target on D-Wave Quantum from $29.00 to $35.00 and gave the stock an “outperform” rating in a report on Monday, June 15th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $36.36.

Get Our Latest Report on D-Wave Quantum

Insider Activity

In other news, VP Sophie C. Ames sold 3,070 shares of D-Wave Quantum stock in a transaction that occurred on Monday, July 20th. The shares were sold at an average price of $16.95, for a total transaction of $52,036.50. Following the completion of the sale, the vice president directly owned 589,009 shares in the company, valued at approximately $9,983,702.55. This trade represents a 0.52% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director John D. Dilullo sold 7,850 shares of the business’s stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $24.43, for a total value of $191,775.50. Following the sale, the director directly owned 21,310 shares in the company, valued at $520,603.30. This trade represents a 26.92% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 1,340,817 shares of company stock valued at $35,352,133 in the last quarter. Insiders own 1.30% of the company’s stock.

D-Wave Quantum Profile

(Free Report)

D-Wave Quantum Inc (NYSE: QBTS) develops and provides quantum computing systems, software and services focused on quantum annealing technology. Headquartered in Burnaby, British Columbia, D-Wave designs specialized processors that leverage quantum mechanics to solve complex optimization and sampling problems. Since its founding in 1999 by physicists including Geordie Rose, the company has pursued the development of commercially viable quantum hardware and accompanying software tools.

The company’s product portfolio centers on its quantum annealers, which are complemented by hybrid solvers that integrate classical and quantum computing resources.