Two Sigma Investments LP Purchases 416,517 Shares of IonQ, Inc. (NYSE:IONQ)

Two Sigma Investments LP raised its stake in IonQ, Inc. (NYSE:IONQ - Free Report) by 700.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 476,017 shares of the company's stock after acquiring an additional 416,517 shares during the period. Two Sigma Investments LP owned approximately 0.22% of IonQ worth $19,883,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Pathway Financial Advisers LLC acquired a new position in shares of IonQ during the 4th quarter worth $26,000. Smartleaf Asset Management LLC raised its holdings in shares of IonQ by 421.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 620 shares of the company's stock worth $27,000 after buying an additional 501 shares in the last quarter. Measured Risk Portfolios Inc. acquired a new position in shares of IonQ during the 4th quarter worth $27,000. TD Waterhouse Canada Inc. acquired a new position in shares of IonQ during the 4th quarter worth $33,000. Finally, Golden State Wealth Management LLC acquired a new position in shares of IonQ during the 4th quarter worth $34,000. 41.42% of the stock is owned by institutional investors and hedge funds.

Insider Activity at IonQ

In related news, CRO Rima Alameddine sold 1,407 shares of the company'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 sale, the executive now owns 592,615 shares in the company, valued at $12,563,438. This represents a 0.24% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Peter Hume Chapman sold 2,000,000 shares of the company's stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $18.72, for a total value of $37,440,000.00. Following the sale, the insider now owns 414,363 shares in the company, valued at approximately $7,756,875.36. The trade was a 82.84% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 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 Stock Down 0.3%

Shares of NYSE IONQ traded down $0.15 during trading on Friday, reaching $45.64. The company had a trading volume of 53,689,313 shares, compared to its average volume of 17,457,057. The company's fifty day moving average price is $27.82 and its 200-day moving average price is $31.88. IonQ, Inc. has a 12 month low of $6.22 and a 12 month high of $54.74. The stock has a market cap of $10.17 billion, a P/E ratio of -56.34 and a beta of 2.46.

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

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on IONQ shares. DA Davidson reduced their price objective on IonQ from $50.00 to $35.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. Benchmark reduced their price objective on IonQ from $45.00 to $40.00 and set a "buy" rating on the stock in a research report on Wednesday, April 23rd. Needham & Company LLC reduced their price objective on IonQ from $54.00 to $50.00 and set a "buy" rating on the stock in a research report on Thursday, May 8th. Finally, Morgan Stanley boosted 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 equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price 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.