Ancora Advisors LLC Has $1.54 Million Stake in IonQ, Inc. (NYSE:IONQ)

Ancora Advisors LLC reduced its stake in IonQ, Inc. (NYSE:IONQ - Free Report) by 25.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 36,750 shares of the company's stock after selling 12,250 shares during the period. Ancora Advisors LLC's holdings in IonQ were worth $1,535,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Pathway Financial Advisers LLC bought a new position in IonQ in the 4th quarter valued at approximately $26,000. Smartleaf Asset Management LLC lifted its stake in shares of IonQ by 421.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 620 shares of the company's stock valued at $27,000 after acquiring an additional 501 shares during the last quarter. TD Waterhouse Canada Inc. acquired a new stake in shares of IonQ during the 4th quarter valued at $33,000. Golden State Wealth Management LLC bought a new stake in IonQ during the 4th quarter worth $34,000. Finally, City State Bank acquired a new position in IonQ in the 4th quarter worth about $36,000. 41.42% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, insider Peter Hume Chapman sold 2,000,000 shares of the firm's stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $18.72, for a total transaction of $37,440,000.00. Following the completion of the sale, the insider now owns 414,363 shares of the company's stock, valued at $7,756,875.36. This trade represents a 82.84 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CRO Rima Alameddine sold 20,047 shares of the business's stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $18.57, for a total transaction of $372,272.79. Following the transaction, the executive now owns 572,568 shares in the company, valued at $10,632,587.76. The trade was a 3.38 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 2,033,166 shares of company stock valued at $38,059,593 over the last quarter. Insiders own 11.60% of the company's stock.

IonQ Stock Performance

Shares of NYSE IONQ opened at $30.92 on Monday. The company's 50 day moving average price is $24.37 and its 200-day moving average price is $30.14. IonQ, Inc. has a 52-week low of $6.22 and a 52-week high of $54.74. The company has a market capitalization of $6.89 billion, a P/E ratio of -38.17 and a beta of 2.50.

Analysts Set New Price Targets

IONQ has been the topic of a number of recent research reports. Benchmark cut their price target on IonQ from $45.00 to $40.00 and set a "buy" rating on the stock in a research note on Wednesday, April 23rd. The Goldman Sachs Group boosted their target price on shares of IonQ from $16.00 to $30.00 and gave the stock a "neutral" rating in a report on Friday, January 10th. DA Davidson dropped their price target on shares of IonQ from $50.00 to $35.00 and set a "buy" rating for the company in a research note on Monday, April 14th. Finally, Needham & Company LLC reissued a "buy" rating and issued a $54.00 price objective on shares of IonQ in a research note on Thursday, February 27th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $40.80.

IonQ Profile

IonQ, Inc engages in the development of general-purpose quantum computing systems in the United States. It sells access to quantum computers of various qubit capacities. The company makes access to its quantum computers through cloud platforms, such as Amazon Web Services (AWS) Amazon Braket, Microsoft's Azure Quantum, and Google's Cloud Marketplace, as well as through its cloud service.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.