Quantum Biopharma (NASDAQ:QNTM) Shares Up 2.5% – Should You Buy?

Quantum Biopharma Ltd. (NASDAQ:QNTM)’s share price was up 2.5% during mid-day trading on Tuesday. The stock traded as high as $3.90 and last traded at $3.70. Approximately 193,695 shares traded hands during mid-day trading, an increase of 43% from the average daily volume of 135,841 shares. The stock had previously closed at $3.61.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Rodman & Renshaw began coverage on shares of Quantum Biopharma in a research report on Monday, August 31st. They set a “buy” rating and a $8.00 target price on the stock. Wall Street Zen upgraded shares of Quantum Biopharma from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 1st. Finally, Weiss Ratings upgraded shares of Quantum Biopharma from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday, August 21st. One investment analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Quantum Biopharma currently has a consensus rating of “Hold” and an average target price of $8.00.

Quantum Biopharma Stock Up 3.1%

The firm has a 50 day moving average of $3.27 and a 200 day moving average of $3.93. The firm has a market cap of $25.60 million, a price-to-earnings ratio of -0.73 and a beta of 0.45.

Quantum Biopharma (NASDAQ:QNTM) last posted its quarterly earnings results on Thursday, August 13th. The company reported ($0.47) earnings per share for the quarter, missing the consensus estimate of ($0.41) by ($0.06).

Institutional Investors Weigh In On Quantum Biopharma

An institutional investor recently bought a new position in Quantum Biopharma stock. Platform Technology Partners bought a new position in shares of Quantum Biopharma Ltd. (NASDAQ:QNTM) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 41,116 shares of the company’s stock, valued at approximately $199,000. Platform Technology Partners owned approximately 1.08% of Quantum Biopharma as of its most recent SEC filing. Institutional investors own 1.24% of the company’s stock.

Quantum Biopharma Company Profile

Quantum BioPharma Inc (NASDAQ:QNTM), formerly known as FSD Pharma Inc, is a biotechnology company developing therapeutics for neurodegenerative and other serious medical conditions. The company’s research pipeline is centered on novel small-molecule compounds intended to address diseases involving myelin damage and related neurological dysfunction.

Its lead investigational program, Lucid-MS, is being developed as a potential treatment for multiple sclerosis. The compound is designed to target processes associated with demyelination and may also support remyelination, although it remains under development and has not been approved for commercial use.