GAMMA Investing LLC Boosts Stock Holdings in Rigetti Computing, Inc. (NASDAQ:RGTI)

GAMMA Investing LLC boosted its stake in Rigetti Computing, Inc. (NASDAQ:RGTI - Free Report) by 15,050.9% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 25,605 shares of the company's stock after purchasing an additional 25,436 shares during the quarter. GAMMA Investing LLC's holdings in Rigetti Computing were worth $203,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Rhumbline Advisers increased its holdings in shares of Rigetti Computing by 15.8% in the fourth quarter. Rhumbline Advisers now owns 234,075 shares of the company's stock worth $3,572,000 after purchasing an additional 31,895 shares during the last quarter. Allworth Financial LP increased its stake in Rigetti Computing by 14.9% in the 4th quarter. Allworth Financial LP now owns 11,604 shares of the company's stock worth $161,000 after acquiring an additional 1,504 shares during the last quarter. New York State Common Retirement Fund raised its holdings in shares of Rigetti Computing by 90.6% during the 4th quarter. New York State Common Retirement Fund now owns 32,600 shares of the company's stock worth $497,000 after acquiring an additional 15,500 shares in the last quarter. Global Retirement Partners LLC purchased a new stake in shares of Rigetti Computing during the 4th quarter worth approximately $193,000. Finally, Private Advisor Group LLC bought a new position in shares of Rigetti Computing during the 4th quarter valued at approximately $1,267,000. Institutional investors own 35.38% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. Needham & Company LLC decreased their price target on shares of Rigetti Computing from $17.00 to $15.00 and set a "buy" rating on the stock in a research note on Wednesday, May 14th. Benchmark restated a "buy" rating and issued a $14.00 target price on shares of Rigetti Computing in a report on Thursday, May 15th. Finally, Alliance Global Partners reaffirmed a "buy" rating on shares of Rigetti Computing in a report on Thursday, March 6th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average price target of $14.00.

Rigetti Computing Stock Down 2.6%

RGTI stock opened at $11.06 on Monday. Rigetti Computing, Inc. has a twelve month low of $0.66 and a twelve month high of $21.42. The stock has a market capitalization of $3.21 billion, a price-to-earnings ratio of -15.80 and a beta of 1.50. The firm's fifty day simple moving average is $10.89 and its two-hundred day simple moving average is $10.71.

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.

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