25,889 Shares in Rigetti Computing, Inc. (NASDAQ:RGTI) Acquired by Level Four Advisory Services LLC

Level Four Advisory Services LLC acquired a new stake in Rigetti Computing, Inc. (NASDAQ:RGTI) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 25,889 shares of the company’s stock, valued at approximately $395,000.

Other large investors have also modified their holdings of the company. Signaturefd LLC purchased a new stake in Rigetti Computing in the 4th quarter valued at $25,000. EverSource Wealth Advisors LLC purchased a new stake in shares of Rigetti Computing in the fourth quarter valued at about $28,000. Arete Wealth Advisors LLC acquired a new stake in shares of Rigetti Computing during the third quarter worth about $45,000. Spire Wealth Management purchased a new position in shares of Rigetti Computing during the fourth quarter worth about $46,000. Finally, JPMorgan Chase & Co. increased its position in Rigetti Computing by 3.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 62,360 shares of the company’s stock valued at $49,000 after acquiring an additional 2,045 shares during the period. 35.38% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

RGTI has been the topic of several analyst reports. B. Riley lifted their target price on Rigetti Computing from $8.50 to $15.00 and gave the company a “buy” rating in a research note on Friday, February 14th. Craig Hallum started coverage on shares of Rigetti Computing in a research note on Friday, December 20th. They issued a “buy” rating and a $12.00 price objective on the stock. Needham & Company LLC restated a “buy” rating and issued a $17.00 target price on shares of Rigetti Computing in a research note on Thursday, March 6th. Benchmark reiterated a “buy” rating and set a $14.00 price target on shares of Rigetti Computing in a research note on Thursday, March 6th. Finally, Alliance Global Partners restated a “buy” rating on shares of Rigetti Computing in a research report on Thursday, March 6th. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat, Rigetti Computing currently has a consensus rating of “Buy” and a consensus price target of $14.50.

Insider Buying and Selling at Rigetti Computing

In related news, CTO David Rivas sold 351,785 shares of the stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $7.76, for a total value of $2,729,851.60. Following the sale, the chief technology officer now directly owns 1,094,738 shares of the company’s stock, valued at approximately $8,495,166.88. This represents a 24.32 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.81% of the stock is owned by corporate insiders.

Rigetti Computing Stock Down 2.8 %

Shares of NASDAQ RGTI opened at $7.92 on Tuesday. The company has a quick ratio of 4.84, a current ratio of 4.84 and a debt-to-equity ratio of 0.02. The firm has a 50-day moving average price of $10.68 and a 200 day moving average price of $6.86. Rigetti Computing, Inc. has a 52 week low of $0.66 and a 52 week high of $21.42. The stock has a market capitalization of $2.26 billion, a price-to-earnings ratio of -20.84 and a beta of 1.36.

Rigetti Computing (NASDAQ:RGTI) last announced its quarterly earnings results on Wednesday, March 5th. The company reported ($0.08) EPS for the quarter, hitting the consensus estimate of ($0.08). Rigetti Computing had a negative return on equity of 51.56% and a negative net margin of 509.58%. The business had revenue of $2.27 million for the quarter, compared to analyst estimates of $2.40 million. During the same quarter in the previous year, the company earned ($0.04) EPS. Equities research analysts anticipate that Rigetti Computing, Inc. will post -0.34 EPS for the current fiscal year.

Rigetti Computing 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.