Weiss Asset Management LP Cuts Stake in Rigetti Computing, Inc. $RGTI

Weiss Asset Management LP cut its holdings in Rigetti Computing, Inc. (NASDAQ:RGTI) by 80.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 12,425 shares of the company’s stock after selling 51,699 shares during the period. Weiss Asset Management LP’s holdings in Rigetti Computing were worth $174,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Clear Street Group Inc. raised its holdings in shares of Rigetti Computing by 71.1% during the fourth quarter. Clear Street Group Inc. now owns 2,743,150 shares of the company’s stock valued at $60,761,000 after purchasing an additional 1,140,183 shares during the last quarter. Patriot Financial Group Insurance Agency LLC boosted its holdings in Rigetti Computing by 105.3% in the first quarter. Patriot Financial Group Insurance Agency LLC now owns 123,460 shares of the company’s stock worth $1,733,000 after purchasing an additional 63,331 shares during the last quarter. Intech Investment Management LLC boosted its holdings in Rigetti Computing by 66.3% in the fourth quarter. Intech Investment Management LLC now owns 120,260 shares of the company’s stock worth $2,664,000 after purchasing an additional 47,935 shares during the last quarter. Spear Advisors LLC bought a new stake in Rigetti Computing in the 4th quarter worth approximately $2,062,000. Finally, Eurizon Capital SGR S.p.A. bought a new stake in Rigetti Computing in the 4th quarter worth approximately $4,937,000. 35.38% of the stock is owned by institutional investors.

Rigetti Computing Trading Down 7.2%

Shares of NASDAQ RGTI opened at $14.52 on Wednesday. Rigetti Computing, Inc. has a 12-month low of $12.53 and a 12-month high of $58.15. The firm has a market capitalization of $4.83 billion, a price-to-earnings ratio of -16.69 and a beta of 1.95. The firm has a 50 day moving average of $19.60 and a 200 day moving average of $18.53.

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, topping the consensus estimate of ($0.05) by $0.01. The business had revenue of $4.40 million for the quarter, compared to the consensus estimate 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 company’s quarterly revenue was up 198.9% on a year-over-year basis. During the same period last year, the firm earned ($0.05) earnings per share. Sell-side analysts predict that Rigetti Computing, Inc. will post -0.22 EPS for the current year.

Insider Transactions at Rigetti Computing

In other Rigetti Computing news, CTO David Rivas sold 499,328 shares of the company’s stock in a transaction dated Friday, May 29th. The stock was sold at an average price of $25.40, for a total value of $12,682,931.20. Following the completion of the sale, the chief technology officer owned 325,945 shares in the company, valued at $8,279,003. This represents a 60.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Ray O. Johnson sold 84,944 shares of the company’s stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of $20.55, for a total value of $1,745,599.20. Following the completion of the sale, the director owned 95,537 shares of the company’s stock, valued at approximately $1,963,285.35. The trade was a 47.07% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 728,901 shares of company stock worth $17,546,343 in the last three months. Corporate insiders own 1.60% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on RGTI shares. Mizuho lowered their price target on Rigetti Computing from $33.00 to $27.00 and set an “outperform” rating on the stock in a report on Tuesday, May 12th. Weiss Ratings raised Rigetti Computing from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, July 21st. Needham & Company LLC reaffirmed a “buy” rating and issued a $31.00 price objective on shares of Rigetti Computing in a report on Tuesday, May 12th. Northland Securities began coverage on Rigetti Computing in a research report on Monday, April 20th. They set a “market perform” rating and a $20.00 price objective for the company. Finally, Wall Street Zen raised Rigetti Computing from a “sell” rating to a “hold” rating in a report on Monday, July 20th. Seven equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $32.00.

More Rigetti Computing News

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.

About Rigetti Computing

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.