12,907 Shares in Rigetti Computing, Inc. (NASDAQ:RGTI) Acquired by Pathway Financial Advisers LLC

Pathway Financial Advisers LLC acquired a new stake in Rigetti Computing, Inc. (NASDAQ:RGTI) in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 12,907 shares of the company’s stock, valued at approximately $197,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. JPMorgan Chase & Co. raised its holdings in Rigetti Computing by 3.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 62,360 shares of the company’s stock valued at $49,000 after buying an additional 2,045 shares during the last quarter. Spire Wealth Management purchased a new position in shares of Rigetti Computing in the fourth quarter valued at about $46,000. Activest Wealth Management bought a new position in shares of Rigetti Computing during the fourth quarter valued at about $52,000. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in shares of Rigetti Computing during the fourth quarter worth about $76,000. Finally, SG Americas Securities LLC grew its stake in shares of Rigetti Computing by 10.5% in the fourth quarter. SG Americas Securities LLC now owns 69,856 shares of the company’s stock worth $1,066,000 after purchasing an additional 6,654 shares during the last quarter. Institutional investors own 35.38% of the company’s stock.

Rigetti Computing Trading Up 4.3 %

NASDAQ RGTI opened at $12.25 on Friday. The firm has a market capitalization of $2.36 billion, a PE ratio of -32.24 and a beta of 1.26. The stock’s 50 day moving average is $11.66 and its 200 day moving average is $4.83. Rigetti Computing, Inc. has a twelve month low of $0.66 and a twelve month high of $21.42. The company has a quick ratio of 4.84, a current ratio of 4.84 and a debt-to-equity ratio of 0.02.

Insider Buying and Selling at Rigetti Computing

In other Rigetti Computing news, Director Michael S. Clifton sold 125,000 shares of the company’s stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $4.00, for a total value of $500,000.00. Following the sale, the director now owns 1,188,864 shares in the company, valued at approximately $4,755,456. This represents a 9.51 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Over the last 90 days, insiders sold 375,000 shares of company stock valued at $1,503,750. 2.81% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

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

Rigetti Computing Company Profile

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.