Pathway Financial Advisers LLC Purchases New Stake in IonQ, Inc. (NYSE:IONQ)

Pathway Financial Advisers LLC acquired a new position in shares of IonQ, Inc. (NYSE:IONQ) during the fourth quarter, HoldingsChannel.com reports. The fund acquired 618 shares of the company’s stock, valued at approximately $26,000.

Several other hedge funds have also modified their holdings of IONQ. GAMMA Investing LLC raised its stake in shares of IonQ by 73.2% during the fourth quarter. GAMMA Investing LLC now owns 1,136 shares of the company’s stock valued at $47,000 after purchasing an additional 480 shares during the period. Spire Wealth Management boosted its stake in IonQ by 406.3% during the 4th quarter. Spire Wealth Management now owns 962 shares of the company’s stock valued at $40,000 after acquiring an additional 772 shares during the last quarter. Golden State Wealth Management LLC acquired a new position in IonQ during the 4th quarter worth $34,000. City State Bank bought a new stake in shares of IonQ in the 4th quarter worth about $36,000. Finally, Versant Capital Management Inc raised its stake in shares of IonQ by 1,348.5% in the 4th quarter. Versant Capital Management Inc now owns 956 shares of the company’s stock valued at $40,000 after purchasing an additional 890 shares in the last quarter. 41.42% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at IonQ

In related news, CEO Peter Hume Chapman sold 13,106 shares of the business’s stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $29.73, for a total transaction of $389,641.38. Following the sale, the chief executive officer now owns 414,363 shares of the company’s stock, valued at $12,319,011.99. The trade was a 3.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CRO Rima Alameddine sold 21,337 shares of IonQ stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $29.73, for a total value of $634,349.01. Following the transaction, the executive now owns 571,321 shares in the company, valued at approximately $16,985,373.33. This trade represents a 3.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 44,223 shares of company stock worth $1,314,652. Company insiders own 11.60% of the company’s stock.

IonQ Stock Up 2.0 %

IonQ stock opened at $38.76 on Friday. The firm has a 50-day moving average price of $39.65 and a two-hundred day moving average price of $22.78. IonQ, Inc. has a 52-week low of $6.22 and a 52-week high of $54.74. The firm has a market capitalization of $8.39 billion, a price-to-earnings ratio of -47.86 and a beta of 2.40.

Wall Street Analyst Weigh In

IONQ has been the subject of several research reports. Craig Hallum lifted their target price on IonQ from $22.00 to $45.00 and gave the stock a “buy” rating in a research report on Friday, December 20th. DA Davidson started coverage on shares of IonQ in a research report on Thursday, December 19th. They set a “buy” rating and a $50.00 price objective for the company. Needham & Company LLC lifted their target price on IonQ from $13.00 to $18.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Benchmark upped their target price on IonQ from $12.00 to $22.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Finally, The Goldman Sachs Group raised their price target on IonQ from $16.00 to $30.00 and gave the stock a “neutral” rating in a report on Friday, January 10th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, IonQ has a consensus rating of “Moderate Buy” and a consensus price target of $33.00.

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.