Brevan Howard Capital Management LP Acquires Shares of 28,431 IonQ, Inc. (NYSE:IONQ)

Brevan Howard Capital Management LP acquired a new stake in IonQ, Inc. (NYSE:IONQ - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 28,431 shares of the company's stock, valued at approximately $1,188,000.

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

IonQ Trading Down 2.0 %

NYSE:IONQ traded down $0.63 during mid-day trading on Friday, hitting $31.21. The stock had a trading volume of 19,030,876 shares, compared to its average volume of 16,467,952. IonQ, Inc. has a 52 week low of $6.22 and a 52 week high of $54.74. The stock has a market capitalization of $6.95 billion, a price-to-earnings ratio of -38.53 and a beta of 2.46. The company has a 50 day simple moving average of $24.91 and a 200-day simple moving average of $30.47.

IonQ (NYSE:IONQ - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The company reported ($0.14) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.28) by $0.14. The business had revenue of $7.57 million during the quarter, compared to the consensus estimate of $7.51 million. IonQ had a negative return on equity of 36.82% and a negative net margin of 457.85%. The business's revenue was down .2% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.19) earnings per share. As a group, equities research analysts anticipate that IonQ, Inc. will post -0.86 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Benchmark decreased their price target on IonQ from $45.00 to $40.00 and set a "buy" rating for the company in a research note on Wednesday, April 23rd. Needham & Company LLC dropped their price target on IonQ from $54.00 to $50.00 and set a "buy" rating on the stock in a research report on Thursday. The Goldman Sachs Group lifted their price objective on shares of IonQ from $16.00 to $30.00 and gave the stock a "neutral" rating in a report on Friday, January 10th. Morgan Stanley increased their target price on shares of IonQ from $29.00 to $30.00 and gave the stock an "equal weight" rating in a report on Thursday. Finally, DA Davidson lowered their price objective on shares of IonQ from $50.00 to $35.00 and set a "buy" rating for the company in a research report on Monday, April 14th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, IonQ presently has an average rating of "Moderate Buy" and a consensus price target of $38.33.

Insider Activity at IonQ

In related news, CRO Rima Alameddine sold 20,047 shares of the firm's stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $18.57, for a total transaction of $372,272.79. Following the completion of the transaction, the executive now owns 572,568 shares of the company's stock, valued at $10,632,587.76. This trade represents a 3.38 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director William F. Scannell purchased 93,066 shares of the company's stock in a transaction on Wednesday, March 12th. The stock was acquired at an average price of $21.81 per share, for a total transaction of $2,029,769.46. Following the completion of the transaction, the director now owns 135,047 shares of the company's stock, valued at $2,945,375.07. This represents a 221.69 % increase in their position. The disclosure for this purchase can be found here. Insiders sold 2,033,166 shares of company stock worth $38,059,593 in the last 90 days. Corporate insiders own 11.60% of the company's stock.

IonQ Company 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.