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 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 68,415 shares of the company's stock, valued at approximately $542,000.

Several other large investors also recently bought and sold shares of the stock. Signaturefd LLC purchased a new stake in shares of Rigetti Computing in the fourth quarter valued at about $25,000. EverSource Wealth Advisors LLC acquired a new stake in Rigetti Computing in the fourth quarter valued at approximately $28,000. Tucker Asset Management LLC purchased a new position in Rigetti Computing in the fourth quarter valued at approximately $32,000. Orion Capital Management LLC purchased a new position in Rigetti Computing in the fourth quarter valued at approximately $46,000. Finally, GAMMA Investing LLC increased its stake in Rigetti Computing by 1,813.0% in the first quarter. GAMMA Investing LLC now owns 3,233 shares of the company's stock valued at $26,000 after purchasing an additional 3,064 shares during the last quarter. Hedge funds and other institutional investors own 35.38% of the company's stock.

Rigetti Computing Trading Up 2.2%

NASDAQ RGTI traded up $0.30 during trading on Monday, reaching $13.75. 50,166,468 shares of the company's stock were exchanged, compared to its average volume of 59,126,005. The firm has a market capitalization of $3.99 billion, a PE ratio of -19.64 and a beta of 1.43. Rigetti Computing, Inc. has a fifty-two week low of $0.66 and a fifty-two week high of $21.42. The company's fifty day simple moving average is $11.52 and its 200-day simple moving average is $11.02.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Cantor Fitzgerald started coverage on Rigetti Computing in a report on Wednesday, July 2nd. They set an "overweight" rating and a $15.00 price target for the company. Needham & Company LLC cut their target price on shares of Rigetti Computing from $17.00 to $15.00 and set a "buy" rating for the company in a research note on Wednesday, May 14th. Finally, Benchmark reissued a "buy" rating and issued a $14.00 target price on shares of Rigetti Computing in a research note on Thursday, May 15th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has an average rating of "Buy" and an average 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.