Virtus Fund Advisers LLC Purchases Shares of 1,008 IonQ, Inc. (NYSE:IONQ)

Virtus Fund Advisers LLC bought a new stake in shares of IonQ, Inc. (NYSE:IONQ) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 1,008 shares of the company’s stock, valued at approximately $42,000.

A number of other large investors have also bought and sold shares of IONQ. PDS Planning Inc boosted its holdings in IonQ by 2.6% in the fourth quarter. PDS Planning Inc now owns 11,829 shares of the company’s stock valued at $494,000 after acquiring an additional 300 shares in the last quarter. Mariner LLC boosted its stake in shares of IonQ by 0.6% during the 4th quarter. Mariner LLC now owns 54,479 shares of the company’s stock valued at $2,276,000 after purchasing an additional 350 shares in the last quarter. Allworth Financial LP increased its position in shares of IonQ by 15.2% during the fourth quarter. Allworth Financial LP now owns 2,753 shares of the company’s stock valued at $116,000 after buying an additional 363 shares during the period. 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 worth $27,000 after buying an additional 501 shares in the last quarter. Finally, Pathway Financial Advisers LLC purchased a new stake in IonQ in the fourth quarter worth about $26,000. 41.42% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other IonQ news, Director William F. Scannell bought 93,066 shares of the business’s stock in a transaction on Wednesday, March 12th. The shares were acquired at an average cost of $21.81 per share, for a total transaction of $2,029,769.46. Following the purchase, the director now owns 135,047 shares in the company, valued at approximately $2,945,375.07. This trade represents a 221.69% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Thomas G. Kramer sold 11,712 shares of IonQ stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $18.57, for a total value of $217,491.84. Following the completion of the sale, the chief financial officer now directly owns 944,510 shares of the company’s stock, valued at approximately $17,539,550.70. The trade was a 1.22% 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 over the last 90 days. 11.60% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research analysts have recently issued reports on IONQ shares. DA Davidson decreased their target price on IonQ from $50.00 to $35.00 and set a “buy” rating for the company in a research report on Monday, April 14th. Morgan Stanley increased their price objective on IonQ from $29.00 to $30.00 and gave the stock an “equal weight” rating in a report on Thursday, May 8th. Benchmark dropped their target price on shares of IonQ from $45.00 to $40.00 and set a “buy” rating on the stock in a report on Wednesday, April 23rd. Finally, Needham & Company LLC reduced their target price on shares of IonQ from $54.00 to $50.00 and set a “buy” rating on the stock in a research report on Thursday, May 8th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $38.33.

IonQ Trading Up 7.8%

Shares of NYSE:IONQ opened at $35.06 on Monday. The stock has a fifty day simple moving average of $26.22 and a two-hundred day simple moving average of $31.27. IonQ, Inc. has a 12-month low of $6.22 and a 12-month high of $54.74. The stock has a market capitalization of $7.81 billion, a price-to-earnings ratio of -43.29 and a beta of 2.46.

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

IonQ 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.