Mission Wealth Management LP Has $79,000 Stake in Rigetti Computing, Inc. (NASDAQ:RGTI)

Mission Wealth Management LP trimmed its holdings in Rigetti Computing, Inc. (NASDAQ:RGTI) by 85.3% in the first quarter, Holdings Channel reports. The institutional investor owned 10,028 shares of the company’s stock after selling 58,000 shares during the period. Mission Wealth Management LP’s holdings in Rigetti Computing were worth $79,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Signaturefd LLC acquired a new stake in shares of Rigetti Computing in the fourth quarter valued at approximately $25,000. EverSource Wealth Advisors LLC bought a new position in Rigetti Computing in the 4th quarter valued at about $28,000. Tucker Asset Management LLC bought a new position in Rigetti Computing in the 4th quarter valued at about $32,000. Orion Capital Management LLC bought a new position in Rigetti Computing in the 4th quarter valued at about $46,000. Finally, GAMMA Investing LLC increased its holdings in Rigetti Computing by 1,813.0% in the 1st quarter. GAMMA Investing LLC now owns 3,233 shares of the company’s stock valued at $26,000 after buying an additional 3,064 shares during the period. 35.38% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Needham & Company LLC decreased their target price on shares of Rigetti Computing from $17.00 to $15.00 and set a “buy” rating on the stock in a report on Wednesday, May 14th. Benchmark reissued a “buy” rating and issued a $14.00 target price on shares of Rigetti Computing in a report on Thursday, May 15th. Finally, Alliance Global Partners reissued a “buy” rating on shares of Rigetti Computing in a report on Thursday, March 6th. Five 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 a consensus price target of $14.00.

Rigetti Computing Trading Down 1.1%

Shares of Rigetti Computing stock opened at $11.35 on Friday. The firm has a market capitalization of $3.30 billion, a PE ratio of -16.21 and a beta of 1.50. The firm’s 50 day moving average is $10.85 and its 200 day moving average is $10.55. Rigetti Computing, Inc. has a 1 year low of $0.66 and a 1 year high of $21.42.

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.