Pathway Financial Advisers LLC Purchases Shares of 618 IonQ, Inc. (NYSE:IONQ)

Pathway Financial Advisers LLC acquired a new position in shares of IonQ, Inc. (NYSE:IONQ) in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 618 shares of the company’s stock, valued at approximately $26,000.

A number of other hedge funds have also made changes to their positions in the business. Golden State Wealth Management LLC purchased a new stake in IonQ in the fourth quarter valued at $34,000. City State Bank acquired a new stake in shares of IonQ in the 4th quarter valued at about $36,000. Hemington Wealth Management acquired a new position in IonQ during the fourth quarter worth approximately $37,000. Versant Capital Management Inc lifted its stake in IonQ by 1,348.5% in the fourth quarter. Versant Capital Management Inc now owns 956 shares of the company’s stock valued at $40,000 after buying an additional 890 shares during the last quarter. Finally, Spire Wealth Management boosted its holdings in shares of IonQ by 406.3% in the fourth 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 period. Hedge funds and other institutional investors own 41.42% of the company’s stock.

Wall Street Analysts Forecast Growth

IONQ has been the topic of several recent research reports. The Goldman Sachs Group boosted their price target on IonQ from $16.00 to $30.00 and gave the company a “neutral” rating in a research report on Friday, January 10th. Craig Hallum lifted their price objective on shares of IonQ from $22.00 to $45.00 and gave the company a “buy” rating in a research report on Friday, December 20th. DA Davidson began 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 shares of IonQ from $13.00 to $18.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Finally, Benchmark increased their price target on shares of IonQ from $12.00 to $22.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $33.00.

IonQ Stock Performance

IonQ stock opened at $38.76 on Friday. The business has a fifty day moving average of $39.65 and a two-hundred day moving average of $22.78. The company has a market cap of $8.39 billion, a P/E ratio of -47.86 and a beta of 2.40. IonQ, Inc. has a one year low of $6.22 and a one year high of $54.74.

Insider Buying and Selling

In other IonQ news, CEO Peter Hume Chapman sold 13,106 shares of the stock in a transaction 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 transaction, the chief executive officer now owns 414,363 shares of the company’s stock, valued at $12,319,011.99. This represents a 3.07 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CRO Rima Alameddine sold 21,337 shares of the stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $29.73, for a total transaction of $634,349.01. Following the transaction, the executive now owns 571,321 shares in the company, valued at approximately $16,985,373.33. The trade was a 3.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 44,223 shares of company stock valued at $1,314,652. Corporate insiders own 11.60% of the company’s stock.

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.