Mission Wealth Management LP Acquires Shares of 68,028 Rigetti Computing, Inc. (NASDAQ:RGTI)

Mission Wealth Management LP acquired a new stake in Rigetti Computing, Inc. (NASDAQ:RGTI) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 68,028 shares of the company’s stock, valued at approximately $1,038,000.

Other institutional investors also recently bought and sold shares of the company. Arete Wealth Advisors LLC acquired a new stake in Rigetti Computing in the third quarter valued at approximately $45,000. Spire Wealth Management acquired a new stake in Rigetti Computing in the fourth quarter valued at approximately $46,000. JPMorgan Chase & Co. grew its holdings in Rigetti Computing by 3.4% in the third quarter. JPMorgan Chase & Co. now owns 62,360 shares of the company’s stock valued at $49,000 after purchasing an additional 2,045 shares during the period. Jones Financial Companies Lllp acquired a new stake in Rigetti Computing in the fourth quarter valued at approximately $50,000. Finally, Activest Wealth Management acquired a new stake in Rigetti Computing in the fourth quarter valued at approximately $52,000. 35.38% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Michael S. Clifton sold 125,000 shares of Rigetti Computing stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $5.03, for a total transaction of $628,750.00. Following the transaction, the director now owns 1,063,864 shares in the company, valued at approximately $5,351,235.92. This trade represents a 10.51 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 2.81% of the stock is currently owned by company insiders.

Rigetti Computing Stock Performance

Shares of Rigetti Computing stock opened at $7.86 on Wednesday. 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 $1.51 billion, a price-to-earnings ratio of -20.68 and a beta of 1.26. The company has a debt-to-equity ratio of 0.02, a quick ratio of 4.84 and a current ratio of 4.84. The business’s 50 day moving average price is $12.30 and its 200 day moving average price is $5.75.

Wall Street Analysts Forecast Growth

RGTI has been the topic of several research reports. B. Riley raised their target price on Rigetti Computing from $8.50 to $15.00 and gave the company a “buy” rating in a research report on Friday, February 14th. Craig Hallum initiated coverage on Rigetti Computing in a research report on Friday, December 20th. They issued a “buy” rating and a $12.00 target price on the stock. Benchmark raised their target price on Rigetti Computing from $2.50 to $14.00 and gave the company a “buy” rating in a research report on Friday, February 21st. Finally, Needham & Company LLC restated a “buy” rating and issued a $2.00 target price on shares of Rigetti Computing in a research report on Wednesday, November 13th.

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.