Chesapeake Capital Corp IL Acquires Shares of 16,966 IonQ, Inc. (NYSE:IONQ)

Chesapeake Capital Corp IL bought a new position in IonQ, Inc. (NYSE:IONQ) in the 4th quarter, HoldingsChannel reports. The fund bought 16,966 shares of the company’s stock, valued at approximately $709,000.

Other institutional investors have also made changes to their positions in the company. LMR Partners LLP acquired a new stake in IonQ during the third quarter worth about $874,000. Prospera Financial Services Inc raised its position in shares of IonQ by 196.1% during the 3rd quarter. Prospera Financial Services Inc now owns 38,508 shares of the company’s stock worth $337,000 after purchasing an additional 25,502 shares during the period. Moors & Cabot Inc. bought a new stake in shares of IonQ in the 3rd quarter worth approximately $92,000. Intech Investment Management LLC acquired a new position in IonQ during the 3rd quarter valued at approximately $381,000. Finally, Charles Schwab Investment Management Inc. grew its stake in IonQ by 9.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,614,034 shares of the company’s stock worth $14,107,000 after buying an additional 135,851 shares during the last quarter. 41.42% of the stock is currently owned by institutional investors.

IonQ Stock Down 8.9 %

Shares of IONQ opened at $22.72 on Wednesday. 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 $5.06 billion, a PE ratio of -28.05 and a beta of 2.50. The firm has a 50-day moving average price of $32.96 and a 200 day moving average price of $26.23.

Insider Activity

In related news, CRO Rima Alameddine sold 1,407 shares of IonQ stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $21.20, for a total transaction of $29,828.40. Following the transaction, the executive now directly owns 592,615 shares of the company’s stock, valued at $12,563,438. The trade was a 0.24 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Peter Hume Chapman sold 2,000,000 shares of the company’s stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $18.72, for a total transaction of $37,440,000.00. Following the completion of the sale, the insider now directly owns 414,363 shares of the company’s stock, valued at $7,756,875.36. The trade was a 82.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 2,033,166 shares of company stock worth $38,059,593 over the last three months. Corporate insiders own 11.60% of the company’s stock.

Analysts Set New Price Targets

IONQ has been the topic of a number of recent research reports. DA Davidson upgraded IonQ to a “strong-buy” rating in a research note on Thursday, February 20th. Benchmark cut their price objective on shares of IonQ from $50.00 to $45.00 and set a “buy” rating on the stock in a research report on Thursday, February 27th. The Goldman Sachs Group upped their target price on shares of IonQ from $16.00 to $30.00 and gave the stock a “neutral” rating in a research report on Friday, January 10th. Craig Hallum lifted their price target on IonQ from $22.00 to $45.00 and gave the company a “buy” rating in a report on Friday, December 20th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $54.00 price objective on shares of IonQ in a research report on Thursday, February 27th. One investment analyst has rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Buy” and an average target price of $44.80.

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.