Rhumbline Advisers Buys 49,923 Shares of Rigetti Computing, Inc. $RGTI

Rhumbline Advisers boosted its position in Rigetti Computing, Inc. (NASDAQ:RGTI) by 12.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 467,525 shares of the company’s stock after purchasing an additional 49,923 shares during the period. Rhumbline Advisers owned about 0.14% of Rigetti Computing worth $13,928,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. IFP Advisors Inc raised its stake in shares of Rigetti Computing by 146.1% in the second quarter. IFP Advisors Inc now owns 2,190 shares of the company’s stock valued at $26,000 after buying an additional 1,300 shares during the period. Hantz Financial Services Inc. increased its holdings in Rigetti Computing by 194.9% in the 3rd quarter. Hantz Financial Services Inc. now owns 1,513 shares of the company’s stock worth $45,000 after acquiring an additional 1,000 shares during the last quarter. Hollencrest Capital Management raised its stake in Rigetti Computing by 458.3% in the 2nd quarter. Hollencrest Capital Management now owns 4,020 shares of the company’s stock valued at $48,000 after acquiring an additional 3,300 shares during the period. Guerra Advisors Inc purchased a new stake in Rigetti Computing during the third quarter valued at about $52,000. Finally, PNC Financial Services Group Inc. boosted its position in Rigetti Computing by 80.8% during the second quarter. PNC Financial Services Group Inc. now owns 4,604 shares of the company’s stock worth $55,000 after purchasing an additional 2,057 shares during the period. 35.38% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. B. Riley Financial raised shares of Rigetti Computing from a “neutral” rating to a “buy” rating and set a $35.00 price target on the stock in a research report on Thursday, January 22nd. Mizuho initiated coverage on shares of Rigetti Computing in a research note on Thursday, December 11th. They issued an “outperform” rating and a $50.00 price objective for the company. Alliance Global Partners restated a “buy” rating on shares of Rigetti Computing in a research report on Tuesday, November 11th. Royal Bank Of Canada cut Rigetti Computing to a “hold” rating in a research report on Thursday, January 22nd. Finally, Williams Trading set a $40.00 price objective on Rigetti Computing in a report on Tuesday, November 11th. Eight investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $32.60.

Rigetti Computing Price Performance

RGTI opened at $16.18 on Thursday. The firm has a market capitalization of $5.34 billion, a P/E ratio of -12.45 and a beta of 1.69. Rigetti Computing, Inc. has a one year low of $6.86 and a one year high of $58.15. The company has a fifty day moving average price of $21.99 and a 200-day moving average price of $25.75.

Rigetti Computing Profile

Rigetti Computing is a pioneering quantum computing company that designs and manufactures superconducting quantum processors alongside a complementary software stack. Founded in 2013 by CEO Chad Rigetti, the company has developed end-to-end quantum systems—from cryogenic hardware to control electronics—to advance the performance and scalability of quantum machines.

At the core of Rigetti’s offering is its Quantum Cloud Services (QCS) platform, which enables developers and enterprises to access quantum processing units (QPUs) and hybrid quantum-classical workflows via the cloud.