Vontobel Holding Ltd. Invests $542,000 in Rigetti Computing, Inc. (NASDAQ:RGTI)

Vontobel Holding Ltd. bought a new position in shares of Rigetti Computing, Inc. (NASDAQ:RGTI - Free Report) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 68,415 shares of the company's stock, valued at approximately $542,000.

A number of other large investors also recently modified their holdings of RGTI. Bank of New York Mellon Corp lifted its position in shares of Rigetti Computing by 27.4% during 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 in the last quarter. Oppenheimer & Co. Inc. lifted its position in shares of Rigetti Computing by 31.8% during the fourth quarter. Oppenheimer & Co. Inc. now owns 19,765 shares of the company's stock worth $302,000 after purchasing an additional 4,765 shares in the last quarter. US Bancorp DE acquired a new position in shares of Rigetti Computing during the fourth quarter worth approximately $74,000. Jones Financial Companies Lllp acquired a new position in shares of Rigetti Computing during the fourth quarter worth approximately $50,000. Finally, Steward Partners Investment Advisory LLC acquired a new position in shares of Rigetti Computing during the fourth quarter worth approximately $83,000. 35.38% of the stock is currently owned by institutional investors and hedge funds.

Rigetti Computing Stock Performance

NASDAQ:RGTI traded down $0.48 during trading hours on Thursday, hitting $13.03. The stock had a trading volume of 25,345,048 shares, compared to its average volume of 59,238,137. Rigetti Computing, Inc. has a one year low of $0.66 and a one year high of $21.42. The company has a market cap of $3.78 billion, a price-to-earnings ratio of -18.61 and a beta of 1.43. The business's 50 day moving average is $11.79 and its 200-day moving average is $11.08.

Wall Street Analysts Forecast Growth

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

Rigetti Computing 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.