Corient Private Wealth LP Buys New Shares in IonQ, Inc. $IONQ

Corient Private Wealth LP purchased a new stake in shares of IonQ, Inc. (NYSE:IONQ - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 26,363 shares of the company's stock, valued at approximately $1,404,000.

Several other hedge funds have also recently added to or reduced their stakes in IONQ. Accent Capital Management LLC increased its position in shares of IonQ by 171.8% during the 4th quarter. Accent Capital Management LLC now owns 587 shares of the company's stock valued at $26,000 after purchasing an additional 371 shares during the last quarter. EverSource Wealth Advisors LLC lifted its position in IonQ by 216.5% in the 1st quarter. EverSource Wealth Advisors LLC now owns 959 shares of the company's stock worth $28,000 after buying an additional 656 shares during the last quarter. PeakShares LLC bought a new stake in IonQ in the 1st quarter worth approximately $29,000. EFG International AG purchased a new stake in IonQ in the second quarter worth approximately $30,000. Finally, Beaird Harris Wealth Management LLC boosted its stake in IonQ by 117.4% in the third quarter. Beaird Harris Wealth Management LLC now owns 500 shares of the company's stock worth $31,000 after buying an additional 270 shares in the last quarter. Institutional investors own 41.42% of the company's stock.

Insider Activity at IonQ

In other IonQ news, Director Gabrielle B. Toledano sold 2,757 shares of the business's stock in a transaction dated Thursday, June 18th. The shares were sold at an average price of $55.01, for a total value of $151,662.57. Following the transaction, the director owned 11,154 shares in the company, valued at approximately $613,581.54. The trade was a 19.82% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kathryn K. Chou sold 2,757 shares of the business's stock in a transaction dated Thursday, June 18th. The shares were sold at an average price of $55.02, for a total transaction of $151,690.14. Following the completion of the transaction, the director owned 62,608 shares in the company, valued at $3,444,692.16. The trade was a 4.22% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 9,329 shares of company stock worth $513,216 in the last three months. 0.55% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research firms have commented on IONQ. Jefferies Financial Group set a $75.00 price target on shares of IonQ in a research note on Thursday, August 6th. Needham & Company LLC reaffirmed a "buy" rating and set a $65.00 target price on shares of IonQ in a report on Thursday, August 6th. Wedbush started coverage on shares of IonQ in a research report on Monday, August 3rd. They issued an "outperform" rating and a $75.00 target price on the stock. JPMorgan Chase & Co. lifted their target price on shares of IonQ from $42.00 to $50.00 and gave the stock a "neutral" rating in a research report on Thursday, May 7th. Finally, Morgan Stanley set a $49.00 price target on shares of IonQ in a research note on Thursday, August 6th. Nine equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, IonQ currently has a consensus rating of "Moderate Buy" and a consensus price target of $69.92.

IonQ Price Performance

Shares of IonQ stock opened at $39.12 on Friday. IonQ, Inc. has a one year low of $25.89 and a one year high of $84.64. The business's 50 day simple moving average is $41.44 and its two-hundred day simple moving average is $43.56. The stock has a market capitalization of $14.90 billion, a P/E ratio of -8.39 and a beta of 3.30.

IonQ (NYSE:IONQ - Get Free Report) last released its quarterly earnings data on Wednesday, August 5th. The company reported ($0.33) earnings per share for the quarter, beating analysts' consensus estimates of ($0.56) by $0.23. IonQ had a negative return on equity of 22.29% and a negative net margin of 553.27%.The firm had revenue of $80.05 million during the quarter, compared to analyst estimates of $66.47 million. During the same quarter in the prior year, the firm posted ($0.70) earnings per share. The business's quarterly revenue was up 286.7% compared to the same quarter last year. Sell-side analysts expect that IonQ, Inc. will post -2.86 earnings per share for the current fiscal year.

About IonQ

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. It also provides contracts associated with the design, development, and construction of specialized quantum computing hardware systems; maintenance and support services; and consulting services related to co-developing algorithms on quantum computing systems.

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