Two Sigma Advisers LP Buys New Position in IonQ, Inc. (NYSE:IONQ)

Two Sigma Advisers LP acquired a new stake in IonQ, Inc. (NYSE:IONQ - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 278,100 shares of the company's stock, valued at approximately $11,616,000. Two Sigma Advisers LP owned 0.13% of IonQ at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Pathway Financial Advisers LLC acquired a new position in IonQ during the fourth quarter worth $26,000. Smartleaf Asset Management LLC raised its holdings 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 buying an additional 501 shares during the period. Measured Risk Portfolios Inc. purchased a new stake in shares of IonQ in the 4th quarter valued at $27,000. TD Waterhouse Canada Inc. purchased a new stake in shares of IonQ in the 4th quarter valued at $33,000. Finally, Golden State Wealth Management LLC acquired a new position in IonQ during the 4th quarter worth $34,000. 41.42% of the stock is owned by institutional investors and hedge funds.

IonQ Stock Down 0.3%

Shares of NYSE IONQ traded down $0.15 on Friday, hitting $45.64. The company had a trading volume of 53,689,313 shares, compared to its average volume of 17,457,057. IonQ, Inc. has a 12-month low of $6.22 and a 12-month high of $54.74. The business has a 50 day moving average of $27.82 and a two-hundred day moving average of $31.88. The firm has a market capitalization of $10.17 billion, a P/E ratio of -56.34 and a beta of 2.46.

IonQ (NYSE:IONQ - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The company reported ($0.14) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.28) by $0.14. The firm had revenue of $7.57 million for the quarter, compared to analysts' expectations of $7.51 million. IonQ had a negative return on equity of 36.82% and a negative net margin of 457.85%. IonQ's revenue for the quarter was down .2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.19) earnings per share. On average, sell-side analysts anticipate that IonQ, Inc. will post -0.86 earnings per share for the current year.

Insider Buying and Selling at IonQ

In other IonQ news, CRO Rima Alameddine sold 1,407 shares of the firm's stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $21.20, for a total transaction of $29,828.40. Following the transaction, the executive now directly owns 592,615 shares in the company, valued at $12,563,438. This trade represents a 0.24% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director William F. Scannell bought 93,066 shares of the firm's stock in a transaction that occurred on Wednesday, March 12th. The shares were purchased at an average cost 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 ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 2,033,166 shares of company stock valued at $38,059,593. 11.60% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

IONQ has been the subject of several analyst reports. Benchmark lowered their target price 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 decreased their target price on IonQ from $54.00 to $50.00 and set a "buy" rating for the company in a research report on Thursday, May 8th. DA Davidson decreased their price objective on IonQ from $50.00 to $35.00 and set a "buy" rating for the company in a research report on Monday, April 14th. Finally, Morgan Stanley increased their price objective on IonQ from $29.00 to $30.00 and gave the stock an "equal weight" rating in a research report on Thursday, May 8th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $38.33.

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.