Rigetti Computing (NASDAQ:RGTI) Given Buy Rating at Benchmark

Benchmark restated their buy rating on shares of Rigetti Computing (NASDAQ:RGTI) in a research report report published on Thursday morning,Benzinga reports. The firm currently has a $2.50 price objective on the stock.

RGTI has been the topic of a number of other research reports. Needham & Company LLC reissued a “buy” rating and issued a $2.00 price target on shares of Rigetti Computing in a report on Wednesday, November 13th. B. Riley increased their target price on Rigetti Computing from $3.00 to $3.50 and gave the company a “buy” rating in a research note on Wednesday, November 13th.

Rigetti Computing Stock Performance

RGTI stock opened at $1.41 on Thursday. The company’s 50 day moving average is $1.03 and its 200 day moving average is $1.02. Rigetti Computing has a 1-year low of $1.13 and a 1-year high of $1.89.

Insider Buying and Selling at Rigetti Computing

In other Rigetti Computing news, Director Helene Gail Sandford sold 43,200 shares of Rigetti Computing stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $0.82, for a total value of $35,424.00. Following the transaction, the director now directly owns 257,752 shares of the company’s stock, valued at $211,356.64. The trade was a 14.35 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Bessemer Venture Partners X. L. sold 713,886 shares of the stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $1.52, for a total value of $1,085,106.72. Following the sale, the insider now directly owns 20,868,332 shares of the company’s stock, valued at approximately $31,719,864.64. This trade represents a 3.31 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 2,043,200 shares of company stock worth $3,075,424 over the last three months. Company insiders own 2.81% of the company’s stock.

Institutional Trading of Rigetti Computing

Several large investors have recently modified their holdings of the business. Vanguard Group Inc. raised its position in Rigetti Computing by 17.0% during the 1st quarter. Vanguard Group Inc. now owns 5,185,200 shares of the company’s stock valued at $7,933,000 after purchasing an additional 753,110 shares during the last quarter. PEAK6 Investments LLC bought a new position in shares of Rigetti Computing during the first quarter valued at approximately $40,000. Cetera Advisors LLC purchased a new stake in Rigetti Computing in the first quarter worth $38,000. Bank of New York Mellon Corp boosted its holdings in Rigetti Computing by 3,788.5% in the second quarter. Bank of New York Mellon Corp now owns 410,705 shares of the company’s stock valued at $439,000 after acquiring an additional 400,143 shares in the last quarter. Finally, Caprock Group LLC purchased a new position in Rigetti Computing during the 2nd quarter valued at $42,000.

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.