Allspring Global Investments Holdings LLC Invests $178,000 in Rigetti Computing, Inc. (NASDAQ:RGTI)

Allspring Global Investments Holdings LLC acquired a new position in Rigetti Computing, Inc. (NASDAQ:RGTI - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 22,733 shares of the company's stock, valued at approximately $178,000.

Several other hedge funds and other institutional investors have also modified their holdings of RGTI. Bank of New York Mellon Corp lifted its position in Rigetti Computing by 27.4% in the fourth quarter. Bank of New York Mellon Corp now owns 446,692 shares of the company's stock worth $6,817,000 after purchasing an additional 96,099 shares during the period. US Bancorp DE bought a new position in shares of Rigetti Computing during the fourth quarter valued at $74,000. Jones Financial Companies Lllp bought a new position in shares of Rigetti Computing during the fourth quarter valued at $50,000. Steward Partners Investment Advisory LLC bought a new position in shares of Rigetti Computing during the fourth quarter valued at $83,000. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Rigetti Computing by 15.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,329,590 shares of the company's stock valued at $20,290,000 after acquiring an additional 179,656 shares during the period. Institutional investors and hedge funds own 35.38% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on RGTI shares. Benchmark reissued a "buy" rating and set a $14.00 price objective on shares of Rigetti Computing in a report on Thursday, May 15th. Cantor Fitzgerald assumed coverage on Rigetti Computing in a report on Wednesday, July 2nd. They issued an "overweight" rating and a $15.00 price target for the company. Finally, Needham & Company LLC lowered their price objective on Rigetti Computing from $17.00 to $15.00 and set a "buy" rating for the company in a research report on Wednesday, May 14th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Rigetti Computing presently has a consensus rating of "Buy" and an average price target of $14.20.

Rigetti Computing Trading Down 6.5%

Rigetti Computing stock opened at $12.18 on Friday. The company has a market capitalization of $3.54 billion, a PE ratio of -17.40 and a beta of 1.43. Rigetti Computing, Inc. has a 12 month low of $0.66 and a 12 month high of $21.42. The stock has a 50-day moving average price of $11.90 and a two-hundred day moving average price of $11.10.

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.

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