Encore Global Management LP Invests $1.69 Million in Rigetti Computing, Inc. $RGTI

Encore Global Management LP bought a new stake in Rigetti Computing, Inc. (NASDAQ:RGTI) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 120,000 shares of the company’s stock, valued at approximately $1,685,000.

Other institutional investors also recently bought and sold shares of the company. Heritage Wealth Advisors increased its stake in Rigetti Computing by 454.3% in the 4th quarter. Heritage Wealth Advisors now owns 1,164 shares of the company’s stock worth $26,000 after purchasing an additional 954 shares during the period. Larson Financial Group LLC lifted its position in Rigetti Computing by 138.4% in the fourth quarter. Larson Financial Group LLC now owns 1,218 shares of the company’s stock valued at $27,000 after purchasing an additional 707 shares during the last quarter. PeakShares LLC purchased a new stake in shares of Rigetti Computing during the first quarter valued at approximately $28,000. EFG International AG purchased a new stake in shares of Rigetti Computing during the fourth quarter valued at approximately $28,000. Finally, Tsfg LLC grew its holdings in shares of Rigetti Computing by 320.5% in the fourth quarter. Tsfg LLC now owns 1,312 shares of the company’s stock worth $29,000 after purchasing an additional 1,000 shares during the last quarter. 35.38% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Rigetti Computing

In other news, CFO Jeffrey A. Bertelsen sold 3,682 shares of the firm’s stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $22.95, for a total value of $84,501.90. Following the completion of the sale, the chief financial officer directly owned 171,927 shares of the company’s stock, valued at approximately $3,945,724.65. This trade represents a 2.10% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Ray O. Johnson sold 84,944 shares of Rigetti Computing stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $20.55, for a total transaction of $1,745,599.20. Following the sale, the director directly owned 95,537 shares in the company, valued at $1,963,285.35. The trade was a 47.07% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 728,901 shares of company stock valued at $17,546,343. Company insiders own 1.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Benchmark began coverage on shares of Rigetti Computing in a research note on Monday. They issued a “buy” rating and a $25.00 target price on the stock. Northland Securities initiated coverage on shares of Rigetti Computing in a report on Monday, April 20th. They issued a “market perform” rating and a $20.00 price target on the stock. Wall Street Zen upgraded shares of Rigetti Computing from a “sell” rating to a “hold” rating in a research report on Monday, July 20th. Needham & Company LLC reaffirmed a “buy” rating and set a $31.00 price objective on shares of Rigetti Computing in a research note on Tuesday, May 12th. Finally, Mizuho dropped their target price on shares of Rigetti Computing from $33.00 to $27.00 and set an “outperform” rating for the company in a report on Tuesday, May 12th. Seven equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $32.00.

Key Stories Impacting Rigetti Computing

Here are the key news stories impacting Rigetti Computing this week:

• Positive Sentiment: Rigetti announced an expanded collaboration with Hewlett Packard Enterprise and the Pittsburgh Supercomputing Center to build TangleLab, a hybrid quantum-classical supercomputing testbed. Rigetti will provide a 9-qubit Novera system, with construction expected to begin in September and operations targeted for 2027. The project is backed by a $5 million National Science Foundation grant. Rigetti Expands Collaboration with HPE and Pittsburgh Supercomputing Center
• Positive Sentiment: Benchmark initiated coverage of RGTI with a Buy rating and a $25 price target, adding to the bullish analyst view of the quantum-computing sector. Benchmark also argued that multiple hardware platforms could succeed as enterprise adoption expands. Benchmark quantum sector outlook
• Positive Sentiment: Rigetti’s commercial momentum includes sharply higher first-quarter revenue and potential demand for its Novera systems, Cepheus processors and cloud services. Recent research suggests AI and cloud adoption could accelerate the commercialization of quantum computing. Quantum stocks after the AI infrastructure pullback
• Neutral Sentiment: Investor attention is elevated ahead of Rigetti’s upcoming second-quarter results. Investors will focus on Novera revenue, Cepheus-1 adoption, progress toward higher-fidelity systems and whether the company can meet its technology roadmap. Rigetti upcoming Q2 results
• Negative Sentiment: The stock is being affected by a sector-wide retreat after concerns about heavy AI-infrastructure spending, while investors also reassess quantum valuations after sharp recent rallies in comparable companies such as D-Wave Quantum.
• Negative Sentiment: Rigetti remains unprofitable, and its very high valuation relative to current revenue leaves the shares sensitive to delays in commercialization or disappointing quarterly guidance. Reported insider activity also shows selling rather than open-market purchases over the past six months.

Rigetti Computing Stock Down 7.2%

Shares of Rigetti Computing stock opened at $14.52 on Wednesday. The business has a 50 day moving average of $19.60 and a 200 day moving average of $18.53. Rigetti Computing, Inc. has a 52 week low of $12.53 and a 52 week high of $58.15. The company has a market cap of $4.83 billion, a PE ratio of -16.69 and a beta of 1.95.

Rigetti Computing (NASDAQ:RGTI) last released its quarterly earnings results on Monday, May 11th. The company reported ($0.04) earnings per share for the quarter, beating the consensus estimate of ($0.05) by $0.01. The business had revenue of $4.40 million for the quarter, compared to analysts’ expectations of $4.09 million. Rigetti Computing had a negative net margin of 2,789.71% and a negative return on equity of 10.40%. The firm’s revenue for the quarter was up 198.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.05) earnings per share. On average, research analysts anticipate that Rigetti Computing, Inc. will post -0.22 earnings per share for the current year.

Rigetti Computing Profile

Rigetti Computing is a pioneering quantum computing company that designs and manufactures superconducting quantum processors alongside a complementary software stack. Founded in 2013 by CEO Chad Rigetti, the company has developed end-to-end quantum systems—from cryogenic hardware to control electronics—to advance the performance and scalability of quantum machines.

At the core of Rigetti’s offering is its Quantum Cloud Services (QCS) platform, which enables developers and enterprises to access quantum processing units (QPUs) and hybrid quantum-classical workflows via the cloud.