The Manufacturers Life Insurance Company Makes New Investment in IonQ, Inc. $IONQ

The Manufacturers Life Insurance Company purchased a new stake in IonQ, Inc. (NYSE:IONQ) in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 87,701 shares of the company’s stock, valued at approximately $4,671,000.

Several other large investors also recently made changes to their positions in the business. Fiduciary Financial Advisors acquired a new position in shares of IonQ in the 2nd quarter worth approximately $54,000. Visionary Wealth Advisors acquired a new stake in IonQ during the second quarter valued at approximately $462,000. Cibc World Market Inc. acquired a new stake in IonQ during the second quarter valued at approximately $5,641,000. OMERS ADMINISTRATION Corp bought a new stake in IonQ during the second quarter worth approximately $250,000. Finally, Osmosis Investment Management UK Ltd bought a new stake in IonQ during the second quarter worth approximately $394,000. Institutional investors own 41.42% of the company’s stock.

Insider Buying and Selling at IonQ

In other IonQ news, Director Gabrielle B. Toledano sold 2,757 shares of the company’s stock in a transaction that occurred on Thursday, June 18th. The shares were sold at an average price of $55.01, for a total value of $151,662.57. Following the transaction, the director owned 11,154 shares in the company, valued at approximately $613,581.54. This represents a 19.82% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kathryn K. Chou sold 2,757 shares of IonQ stock in a transaction on Thursday, June 18th. The shares were sold at an average price of $55.02, for a total transaction of $151,690.14. Following the sale, the director directly owned 62,608 shares of the company’s stock, valued at $3,444,692.16. This trade represents a 4.22% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 9,329 shares of company stock worth $513,216. 0.55% of the stock is currently owned by company insiders.

IonQ Trading Up 0.3%

Shares of IONQ stock opened at $39.31 on Tuesday. The company has a market capitalization of $14.98 billion, a price-to-earnings ratio of -8.44 and a beta of 3.28. IonQ, Inc. has a 1-year low of $25.89 and a 1-year high of $84.64. The stock’s fifty day simple moving average is $42.37 and its 200-day simple moving average is $43.45.

IonQ (NYSE:IONQ) last announced its quarterly earnings data on Wednesday, August 5th. The company reported ($0.33) EPS for the quarter, topping analysts’ consensus estimates of ($0.56) by $0.23. The firm had revenue of $80.05 million during the quarter, compared to analyst estimates of $66.47 million. IonQ had a negative return on equity of 22.29% and a negative net margin of 553.27%.The business’s quarterly revenue was up 286.7% compared to the same quarter last year. During the same period last year, the company posted ($0.70) EPS. On average, sell-side analysts predict that IonQ, Inc. will post -2.86 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on IONQ shares. Weiss Ratings downgraded IonQ from a “sell (d+)” rating to a “sell (d-)” rating in a research report on Friday, August 21st. Northland Securities lifted their target price on IonQ from $55.00 to $70.00 and gave the stock an “outperform” rating in a report on Monday, June 22nd. Jefferies Financial Group set a $75.00 target price on IonQ in a research report on Thursday, August 6th. JPMorgan Chase & Co. increased their price target on IonQ from $42.00 to $50.00 and gave the company a “neutral” rating in a research report on Thursday, May 7th. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $100.00 price target on shares of IonQ in a research report on Thursday, August 6th. Nine analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $69.92.

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. It also provides contracts associated with the design, development, and construction of specialized quantum computing hardware systems; maintenance and support services; and consulting services related to co-developing algorithms on quantum computing systems.