Two Sigma Investments LP Boosts Holdings in Rigetti Computing, Inc. (NASDAQ:RGTI)

Two Sigma Investments LP boosted its stake in Rigetti Computing, Inc. (NASDAQ:RGTI - Free Report) by 38.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 212,239 shares of the company's stock after buying an additional 59,133 shares during the quarter. Two Sigma Investments LP owned approximately 0.11% of Rigetti Computing worth $3,239,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Signaturefd LLC purchased a new position in shares of Rigetti Computing in the 4th quarter worth approximately $25,000. EverSource Wealth Advisors LLC bought a new stake in Rigetti Computing during the fourth quarter worth $28,000. Tucker Asset Management LLC bought a new stake in Rigetti Computing during the fourth quarter worth $32,000. Spire Wealth Management purchased a new position in Rigetti Computing in the fourth quarter worth $46,000. Finally, Jones Financial Companies Lllp bought a new position in Rigetti Computing in the 4th quarter valued at $50,000. 35.38% of the stock is currently owned by institutional investors.

Insider Activity at Rigetti Computing

In related news, CTO David Rivas sold 351,785 shares of the stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $7.76, for a total transaction of $2,729,851.60. Following the sale, the chief technology officer now 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 document filed with the SEC, which is accessible through this hyperlink. 1.90% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

RGTI has been the topic of a number of recent analyst reports. Needham & Company LLC lowered their target price on 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 reaffirmed a "buy" rating and issued a $14.00 price objective on shares of Rigetti Computing in a research report on Thursday, May 15th. B. Riley boosted their target price on shares of Rigetti Computing from $8.50 to $15.00 and gave the company a "buy" rating in a research note on Friday, February 14th. Finally, Alliance Global Partners restated a "buy" rating on shares of Rigetti Computing in a research note on Thursday, March 6th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average target price of $14.00.

Rigetti Computing Stock Performance

Rigetti Computing stock traded down $0.99 during midday trading on Friday, reaching $12.16. The stock had a trading volume of 53,782,094 shares, compared to its average volume of 55,005,916. The firm has a market capitalization of $3.53 billion, a PE ratio of -32.00 and a beta of 1.41. Rigetti Computing, Inc. has a 12 month low of $0.66 and a 12 month high of $21.42. 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's 50-day moving average price is $9.94 and its 200 day moving average price is $9.61.

Rigetti Computing (NASDAQ:RGTI - Get Free Report) last posted its earnings results on Wednesday, March 5th. The company reported ($0.08) earnings per share for the quarter, hitting the consensus estimate of ($0.08). The firm had revenue of $2.27 million during the quarter, compared to the consensus estimate of $2.40 million. Rigetti Computing had a negative net margin of 509.58% and a negative return on equity of 51.56%. During the same quarter last year, the company earned ($0.04) earnings per share. As a group, research analysts predict that Rigetti Computing, Inc. will post -0.34 earnings per share for the current fiscal year.

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.