Needham & Company LLC Reaffirms Buy Rating for Rigetti Computing (NASDAQ:RGTI)

Needham & Company LLC reaffirmed their buy rating on shares of Rigetti Computing (NASDAQ:RGTI) in a research report sent to investors on Wednesday,Benzinga reports. They currently have a $2.00 price target on the stock.

Separately, B. Riley began coverage on Rigetti Computing in a research report on Thursday, July 25th. They set a “buy” rating and a $3.00 target price on the stock.

Rigetti Computing Trading Down 9.0 %

NASDAQ RGTI opened at $1.41 on Wednesday. The business’s 50 day moving average is $1.03 and its two-hundred day moving average is $1.02. Rigetti Computing has a 12-month low of $1.13 and a 12-month high of $1.89.

Insider Buying and Selling

In other Rigetti Computing news, Director Helene Gail Sandford sold 43,200 shares of the stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $0.82, for a total transaction of $35,424.00. Following the sale, the director now owns 257,752 shares in the company, valued at approximately $211,356.64. This represents a 14.35 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Bessemer Venture Partners X. L. sold 1,286,114 shares of the stock in a transaction on Monday, November 11th. The shares were sold at an average price of $1.52, for a total value of $1,954,893.28. Following the sale, the insider now owns 19,582,218 shares in the company, valued at approximately $29,764,971.36. This trade represents a 6.16 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 2,043,200 shares of company stock worth $3,075,424 in the last quarter. Company insiders own 2.81% of the company’s stock.

Institutional Investors Weigh In On Rigetti Computing

A number of large investors have recently bought and sold shares of RGTI. Vanguard Group Inc. grew its holdings in Rigetti Computing by 17.0% during the 1st quarter. Vanguard Group Inc. now owns 5,185,200 shares of the company’s stock valued at $7,933,000 after buying an additional 753,110 shares during the last quarter. PEAK6 Investments LLC acquired a new stake in Rigetti Computing during the 1st quarter valued at $40,000. Cetera Advisors LLC acquired a new stake in Rigetti Computing during the 1st quarter valued at $38,000. SG Americas Securities LLC purchased a new position in shares of Rigetti Computing during the 2nd quarter worth $25,000. Finally, Comprehensive Financial Consultants Institutional Inc. purchased a new position in shares of Rigetti Computing during the 2nd quarter worth $27,000.

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.