EVR Research LP Invests $4.60 Million in IonQ, Inc. (NYSE:IONQ)

EVR Research LP purchased a new position in shares of IonQ, Inc. (NYSE:IONQ - Free Report) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 110,000 shares of the company's stock, valued at approximately $4,595,000. IonQ makes up about 1.5% of EVR Research LP's holdings, making the stock its 19th biggest holding. EVR Research LP owned approximately 0.05% of IonQ at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the stock. JPMorgan Chase & Co. lifted its stake in IonQ by 1,310.9% during the fourth quarter. JPMorgan Chase & Co. now owns 2,468,160 shares of the company's stock valued at $103,095,000 after buying an additional 2,293,231 shares in the last quarter. Chevy Chase Trust Holdings LLC acquired a new stake in IonQ in the 4th quarter valued at about $32,060,000. Arrowstreet Capital Limited Partnership bought a new stake in IonQ in the fourth quarter valued at about $29,513,000. Invesco Ltd. raised its position in shares of IonQ by 439.3% during the fourth quarter. Invesco Ltd. now owns 857,078 shares of the company's stock worth $35,800,000 after purchasing an additional 698,146 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of IonQ during the 4th quarter worth approximately $19,242,000. Hedge funds and other institutional investors own 41.42% of the company's stock.

IonQ Trading Down 1.5 %

Shares of IONQ stock traded down $0.38 during trading hours on Wednesday, reaching $25.02. 4,640,187 shares of the company's stock were exchanged, compared to its average volume of 15,713,357. The stock's 50 day moving average is $26.63 and its 200-day moving average is $28.45. The company has a market cap of $5.58 billion, a price-to-earnings ratio of -30.89 and a beta of 2.50. IonQ, Inc. has a fifty-two week low of $6.22 and a fifty-two week high of $54.74.

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Insider Transactions at IonQ

In related news, Director William F. Scannell acquired 93,066 shares of IonQ stock in a transaction that occurred on Wednesday, March 12th. The stock was purchased at an average price of $21.81 per share, for a total transaction of $2,029,769.46. Following the completion of the purchase, the director now directly owns 135,047 shares of the company's stock, valued at approximately $2,945,375.07. This trade represents a 221.69 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 value of $29,828.40. Following the completion of the sale, the executive now directly owns 592,615 shares in the company, valued at approximately $12,563,438. The trade was a 0.24 % decrease in their ownership of the stock. 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 quarter. Company insiders own 11.60% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on IONQ. DA Davidson dropped their price objective on shares of IonQ from $50.00 to $35.00 and set a "buy" rating for the company in a research note on Monday. Craig Hallum boosted their price target on shares of IonQ from $22.00 to $45.00 and gave the company a "buy" rating in a research note on Friday, December 20th. Benchmark reiterated a "buy" rating and issued a $45.00 price objective on shares of IonQ in a research note on Monday, March 31st. Needham & Company LLC reiterated a "buy" rating and set a $54.00 price target on shares of IonQ in a research report on Thursday, February 27th. Finally, The Goldman Sachs Group increased their target price on IonQ from $16.00 to $30.00 and gave the company a "neutral" rating in a research note on Friday, January 10th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat, IonQ currently has an average rating of "Moderate Buy" and a consensus price target of $41.80.

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.