Quantum Biopharma (NASDAQ:QNTM) Stock Price Down 2.9% – What’s Next?

Quantum Biopharma Ltd. (NASDAQ:QNTM)’s share price dropped 2.9% during mid-day trading on Friday . The company traded as low as $3.23 and last traded at $3.31. 115,688 shares traded hands during mid-day trading, a decline of 11% from the average session volume of 129,711 shares. The stock had previously closed at $3.41.

Analyst Ratings Changes

Several brokerages recently commented on QNTM. Wall Street Zen downgraded shares of Quantum Biopharma from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. Weiss Ratings cut shares of Quantum Biopharma from a “sell (d-)” rating to a “sell (e+)” rating in a report on Thursday, May 28th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock has a consensus rating of “Sell”.

Quantum Biopharma Trading Down 2.9%

The firm has a 50 day simple moving average of $4.96 and a 200 day simple moving average of $4.80. The firm has a market capitalization of $12.64 million, a PE ratio of -0.40 and a beta of 0.43.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Virtu Financial LLC purchased a new stake in shares of Quantum Biopharma during the fourth quarter valued at $76,000. Jane Street Group LLC bought a new stake in Quantum Biopharma in the 4th quarter worth about $80,000. Finally, Platform Technology Partners purchased a new position in Quantum Biopharma in the 1st quarter worth about $199,000. 1.24% of the stock is owned by institutional investors.

About Quantum Biopharma

Quantum Biopharma Ltd. is a biotechnology pharmaceutical research and development company, which focuses on the cultivation, process, and sale of medical cannabis. It operates through the Biotechnology and Strategic Investments segments. The Biotechnology segment is involved in the research and development of the company’s three drug candidates consisting of FSD-PEA, Lucid-PSYCH, and Lucid-MS. The Strategic Investments segment is focused on generating returns and cashflow through the issuance of loans secured by residential or commercial property.