Mission Wealth Management LP Invests $2.39 Million in IonQ, Inc. (NYSE:IONQ)

Mission Wealth Management LP purchased a new position in shares of IonQ, Inc. (NYSE:IONQ) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 57,242 shares of the company’s stock, valued at approximately $2,391,000.

A number of other hedge funds have also recently added to or reduced their stakes in IONQ. Pathway Financial Advisers LLC acquired a new stake in shares of IonQ during the 4th quarter worth $26,000. Smartleaf Asset Management LLC raised its stake 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 purchasing an additional 501 shares in the last quarter. Golden State Wealth Management LLC bought a new stake in IonQ during the fourth quarter worth about $34,000. City State Bank acquired a new stake in IonQ during the fourth quarter worth about $36,000. Finally, Hemington Wealth Management bought a new position in IonQ in the 4th quarter valued at about $37,000. Institutional investors own 41.42% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Needham & Company LLC reiterated a “buy” rating and set a $54.00 price target on shares of IonQ in a report on Thursday, February 27th. 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 report on Friday, January 10th. DA Davidson upgraded IonQ to a “strong-buy” rating in a report on Thursday, February 20th. Benchmark dropped their price objective on shares of IonQ from $50.00 to $45.00 and set a “buy” rating for the company in a report on Thursday, February 27th. Finally, Craig Hallum boosted their target price on shares of IonQ from $22.00 to $45.00 and gave the stock a “buy” rating in a report on Friday, December 20th. One equities research analyst has rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, IonQ presently has an average rating of “Buy” and an average price target of $44.80.

Insider Activity at IonQ

In other IonQ news, CRO Rima Alameddine sold 21,337 shares of the company’s stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $29.73, for a total transaction of $634,349.01. Following the sale, the executive now owns 571,321 shares of the company’s stock, valued at approximately $16,985,373.33. This represents a 3.60 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Thomas G. Kramer sold 9,780 shares of the stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $29.72, for a total value of $290,661.60. Following the sale, the chief financial officer now owns 926,114 shares of the company’s stock, valued at approximately $27,524,108.08. The trade was a 1.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 44,223 shares of company stock worth $1,314,652 over the last ninety days. Insiders own 11.60% of the company’s stock.

IonQ Trading Down 6.0 %

Shares of IONQ stock opened at $23.10 on Tuesday. IonQ, Inc. has a 1-year low of $6.22 and a 1-year high of $54.74. The stock has a market cap of $5.00 billion, a price-to-earnings ratio of -28.52 and a beta of 2.40. The stock has a 50-day moving average of $38.23 and a 200-day moving average of $25.11.

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.