10,000 Shares in Rigetti Computing, Inc. (NASDAQ:RGTI) Purchased by Nova R Wealth Inc.

Nova R Wealth Inc. purchased a new position in shares of Rigetti Computing, Inc. (NASDAQ:RGTI) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 10,000 shares of the company’s stock, valued at approximately $153,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Penserra Capital Management LLC grew its holdings in Rigetti Computing by 9.8% during the third quarter. Penserra Capital Management LLC now owns 4,553,633 shares of the company’s stock worth $3,565,000 after purchasing an additional 407,389 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Rigetti Computing by 20.6% during the third quarter. Geode Capital Management LLC now owns 3,621,829 shares of the company’s stock worth $2,837,000 after acquiring an additional 617,506 shares during the period. State Street Corp boosted its holdings in shares of Rigetti Computing by 12.9% during the third quarter. State Street Corp now owns 2,715,223 shares of the company’s stock worth $2,126,000 after acquiring an additional 309,831 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of Rigetti Computing by 14.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,149,934 shares of the company’s stock worth $901,000 after acquiring an additional 144,742 shares during the period. Finally, UNICOM Systems Inc. bought a new stake in shares of Rigetti Computing during the fourth quarter worth approximately $4,349,000. Institutional investors own 35.38% of the company’s stock.

Insider Buying and Selling at Rigetti Computing

In other Rigetti Computing news, Director Michael S. Clifton sold 125,000 shares of the business’s stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $4.00, for a total transaction of $500,000.00. Following the completion of the transaction, the director now directly owns 1,188,864 shares in the company, valued at $4,755,456. The trade was a 9.51 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders sold a total of 375,000 shares of company stock worth $1,503,750 over the last three months. Corporate insiders own 2.81% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on RGTI. Benchmark restated a “buy” rating and set a $2.50 price objective on shares of Rigetti Computing in a report on Thursday, November 14th. B. Riley boosted their price target on Rigetti Computing from $4.00 to $8.50 and gave the company a “buy” rating in a research note on Tuesday, January 14th. Needham & Company LLC reiterated a “buy” rating and issued a $2.00 price target on shares of Rigetti Computing in a research note on Wednesday, November 13th. Finally, Craig Hallum initiated coverage on Rigetti Computing in a research note on Friday, December 20th. They issued a “buy” rating and a $12.00 price target for the company. Five investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $5.70.

Rigetti Computing Price Performance

Shares of RGTI opened at $12.25 on Friday. Rigetti Computing, Inc. has a one year low of $0.66 and a one year high of $21.42. 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 50 day simple moving average of $11.66 and a two-hundred day simple moving average of $4.83.

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.