Jane Street Group LLC Buys 47,013 Shares of Rigetti Computing, Inc. (NASDAQ:RGTI)

Jane Street Group LLC raised its stake in Rigetti Computing, Inc. (NASDAQ:RGTI) by 23.8% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 244,496 shares of the company’s stock after purchasing an additional 47,013 shares during the quarter. Jane Street Group LLC owned 0.13% of Rigetti Computing worth $191,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. Bank of New York Mellon Corp increased its position in shares of 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 during the period. Rhumbline Advisers bought a new position in Rigetti Computing during the 2nd quarter valued at approximately $161,000. Caprock Group LLC bought a new stake in shares of Rigetti Computing in the 2nd quarter worth approximately $42,000. XTX Topco Ltd increased its stake in shares of Rigetti Computing by 1,121.1% during the second quarter. XTX Topco Ltd now owns 156,515 shares of the company’s stock valued at $167,000 after buying an additional 143,697 shares during the period. Finally, Point72 DIFC Ltd bought a new position in shares of Rigetti Computing during the second quarter valued at approximately $88,000. Hedge funds and other institutional investors own 35.38% of the company’s stock.

Insider Activity

In other Rigetti Computing news, major shareholder Bessemer Venture Partners X. L. sold 713,886 shares of Rigetti Computing stock in a transaction on Friday, November 8th. The stock was sold at an average price of $1.52, for a total value of $1,085,106.72. Following the completion of the sale, the insider now 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Michael S. Clifton sold 125,000 shares of the company’s stock in a transaction on Friday, December 6th. The shares were sold at an average price of $4.00, for a total value of $500,000.00. Following the transaction, the director now directly owns 1,188,864 shares in the company, valued at approximately $4,755,456. The trade was a 9.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 2,955,125 shares of company stock worth $5,489,354 over the last three months. 2.81% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on RGTI shares. Needham & Company LLC reissued a “buy” rating and set a $2.00 price objective on shares of Rigetti Computing in a research report on Wednesday, November 13th. B. Riley raised their price objective on shares of Rigetti Computing from $3.50 to $4.00 and gave the stock a “buy” rating in a report on Monday, November 25th. Benchmark reiterated a “buy” rating and set a $2.50 target price on shares of Rigetti Computing in a report on Thursday, November 14th. Finally, Craig Hallum assumed coverage on Rigetti Computing in a research report on Friday, December 20th. They set a “buy” rating and a $12.00 price target on the stock. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $4.80.

Rigetti Computing Stock Down 11.1 %

RGTI stock opened at $8.93 on Monday. The business has a 50 day moving average of $6.98 and a 200 day moving average of $3.07. The firm has a market cap of $1.72 billion, a PE ratio of -23.50 and a beta of 1.31. Rigetti Computing, Inc. has a twelve month low of $0.66 and a twelve month high of $21.42. The company has a quick ratio of 4.84, a current ratio of 4.84 and a debt-to-equity ratio of 0.02.

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.