Pathway Financial Advisers LLC Invests $197,000 in Rigetti Computing, Inc. (NASDAQ:RGTI)

Pathway Financial Advisers LLC acquired a new stake in shares of Rigetti Computing, Inc. (NASDAQ:RGTI) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 12,907 shares of the company’s stock, valued at approximately $197,000.

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

Analysts Set New Price Targets

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

Insider Transactions 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 Monday, November 25th. The stock was sold at an average price of $3.00, for a total value of $375,000.00. Following the completion of the sale, the director now owns 1,313,864 shares in the company, valued at $3,941,592. This represents a 8.69 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders have sold 375,000 shares of company stock worth $1,503,750 in the last 90 days. 2.81% of the stock is currently owned by insiders.

Rigetti Computing Stock Performance

Shares of NASDAQ RGTI opened at $12.25 on Friday. Rigetti Computing, Inc. has a 12-month low of $0.66 and a 12-month high of $21.42. The firm has a market capitalization of $2.36 billion, a price-to-earnings ratio of -32.24 and a beta of 1.26. The company has a current ratio of 4.84, a quick ratio of 4.84 and a debt-to-equity ratio of 0.02. The firm has a 50 day moving average of $11.66 and a 200 day moving average of $4.83.

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.