B. Riley Issues Positive Forecast for Rigetti Computing (NASDAQ:RGTI) Stock Price

Rigetti Computing (NASDAQ:RGTI) had its price target increased by B. Riley from $3.00 to $3.50 in a report published on Wednesday,Benzinga reports. The firm currently has a buy rating on the stock.

Separately, Needham & Company LLC reiterated a “buy” rating and issued a $2.00 price target on shares of Rigetti Computing in a research note on Wednesday.

Rigetti Computing Trading Up 14.1 %

Shares of Rigetti Computing stock opened at $1.70 on Wednesday. Rigetti Computing has a 52 week low of $1.13 and a 52 week high of $1.89. The firm’s 50 day moving average is $0.98 and its two-hundred day moving average is $1.02.

Insider Transactions at Rigetti Computing

In other news, Director Helene Gail Sandford sold 43,200 shares of the firm’s stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $0.82, for a total transaction of $35,424.00. Following the transaction, the director now directly owns 257,752 shares in the company, valued at approximately $211,356.64. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, Director Helene Gail Sandford sold 43,200 shares of the firm’s stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $0.82, for a total transaction of $35,424.00. Following the transaction, the director now directly owns 257,752 shares in the company, valued at approximately $211,356.64. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Bessemer Venture Partners X. L. sold 1,286,114 shares of the stock in a transaction on Monday, November 11th. The stock was sold at an average price of $1.52, for a total value of $1,954,893.28. Following the sale, the insider now directly owns 19,582,218 shares of the company’s stock, valued at approximately $29,764,971.36. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 2,043,200 shares of company stock worth $3,075,424.

Institutional Investors Weigh In On Rigetti Computing

A number of hedge funds and other institutional investors have recently bought and sold shares of RGTI. SG Americas Securities LLC acquired a new stake in Rigetti Computing in the second quarter valued at $25,000. Comprehensive Financial Consultants Institutional Inc. acquired a new stake in Rigetti Computing in the second quarter valued at $27,000. Cetera Advisors LLC acquired a new stake in Rigetti Computing in the first quarter valued at $38,000. PEAK6 Investments LLC acquired a new stake in Rigetti Computing in the first quarter valued at $40,000. Finally, Caprock Group LLC acquired a new stake in Rigetti Computing in the second 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.