Rigetti Computing, Inc. (NASDAQ:RGTI) CEO Chad Rigetti Sells 49,824 Shares

Rigetti Computing, Inc. (NASDAQ:RGTIGet Rating) CEO Chad Rigetti sold 49,824 shares of Rigetti Computing stock in a transaction that occurred on Thursday, June 16th. The shares were sold at an average price of 4.56, for a total transaction of 227,197.44. Following the completion of the sale, the chief executive officer now owns 10,162,686 shares of the company’s stock, valued at 46,341,848.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Chad Rigetti also recently made the following trade(s):

  • On Tuesday, June 14th, Chad Rigetti sold 132,224 shares of Rigetti Computing stock. The shares were sold at an average price of 4.43, for a total transaction of 585,752.32.

Shares of RGTI opened at 4.70 on Friday. Rigetti Computing, Inc. has a one year low of 4.23 and a one year high of 12.75. The company has a debt-to-equity ratio of 0.17, a current ratio of 18.60 and a quick ratio of 18.60. The company’s 50 day moving average price is 6.83.

Rigetti Computing (NASDAQ:RGTIGet Rating) last posted its earnings results on Monday, May 16th. The company reported -0.41 earnings per share for the quarter. The business had revenue of 2.10 million for the quarter.

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Bank of America Corp DE bought a new stake in shares of Rigetti Computing during the first quarter worth $179,000. Alyeska Investment Group L.P. bought a new stake in shares of Rigetti Computing during the first quarter worth $2,728,000. Deer Management Co. LLC bought a new stake in shares of Rigetti Computing during the first quarter worth $135,968,000. Empyrean Capital Partners LP bought a new stake in shares of Rigetti Computing during the first quarter worth $394,000. Finally, Aristeia Capital LLC bought a new stake in shares of Rigetti Computing during the first quarter worth $315,000. 64.75% of the stock is currently owned by hedge funds and other institutional investors.

A number of equities research analysts have recently weighed in on the stock. Cowen assumed coverage on shares of Rigetti Computing in a research report on Friday, May 27th. They issued an “outperform” rating for the company. Needham & Company LLC assumed coverage on shares of Rigetti Computing in a research report on Tuesday, June 7th. They set a “buy” rating and a $11.00 price objective for the company. Cowen assumed coverage on shares of Rigetti Computing in a research report on Friday, May 27th. They set an “outperform” rating for the company. Finally, Benchmark lowered their price objective on shares of Rigetti Computing from $16.00 to $12.00 and set a “buy” rating for the company in a research report on Friday, June 10th.

Rigetti Computing Company Profile (Get Rating)

Rigetti Computing, Inc operates as an integrated systems company. The company builds quantum computers and the superconducting quantum processors that power them. Its machines are integrated into various public, private, or hybrid clouds through its Quantum Cloud Services platform. The company was founded in 2013 and is based in Berkeley, California.

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