Rhumbline Advisers Has $2.17 Million Position in Rigetti Computing, Inc. (NASDAQ:RGTI)

Rhumbline Advisers grew its holdings in Rigetti Computing, Inc. (NASDAQ:RGTI) by 17.0% during the first quarter, Holdings Channel.com reports. The firm owned 273,818 shares of the company’s stock after acquiring an additional 39,743 shares during the period. Rhumbline Advisers’ holdings in Rigetti Computing were worth $2,169,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Vanguard Group Inc. increased its holdings in Rigetti Computing by 81.7% in the fourth quarter. Vanguard Group Inc. now owns 11,746,361 shares of the company’s stock valued at $179,249,000 after purchasing an additional 5,280,128 shares during the last quarter. Invesco Ltd. increased its holdings in Rigetti Computing by 7,367.2% in the fourth quarter. Invesco Ltd. now owns 4,580,317 shares of the company’s stock valued at $69,896,000 after purchasing an additional 4,518,978 shares during the last quarter. Geode Capital Management LLC increased its holdings in Rigetti Computing by 6.3% in the fourth quarter. Geode Capital Management LLC now owns 3,850,220 shares of the company’s stock valued at $58,767,000 after purchasing an additional 228,391 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Rigetti Computing by 3,295.7% in the fourth quarter. JPMorgan Chase & Co. now owns 2,117,563 shares of the company’s stock worth $32,314,000 after acquiring an additional 2,055,203 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Rigetti Computing by 15.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,329,590 shares of the company’s stock worth $20,290,000 after acquiring an additional 179,656 shares in the last quarter. Institutional investors and hedge funds own 35.38% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on RGTI. Alliance Global Partners restated a “buy” rating on shares of Rigetti Computing in a report on Thursday, March 6th. Needham & Company LLC lowered their price target on Rigetti Computing from $17.00 to $15.00 and set a “buy” rating for the company in a report on Wednesday, May 14th. Finally, Benchmark restated a “buy” rating and issued a $14.00 price target on shares of Rigetti Computing in a report on Thursday, May 15th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Rigetti Computing currently has an average rating of “Buy” and an average target price of $14.00.

Rigetti Computing Trading Up 6.7%

Shares of RGTI opened at $12.16 on Tuesday. Rigetti Computing, Inc. has a 52-week low of $0.66 and a 52-week high of $21.42. The business’s fifty day moving average is $10.73 and its 200-day moving average is $10.48. The company has a debt-to-equity ratio of 0.02, a quick ratio of 4.84 and a current ratio of 4.84. The firm has a market cap of $3.53 billion, a price-to-earnings ratio of -32.00 and a beta of 1.50.

About Rigetti Computing

Rigetti Computing, Inc, through its subsidiaries, builds quantum computers and the superconducting quantum processors. The company offers cloud in a form of quantum processing unit, such as 9-qubit chip and Ankaa-2 system under the Novera brand name; and sells access to its quantum computers through quantum computing as a service.