Rigetti Computing (NASDAQ:RGTI) Stock Price Down 9.5% – Here’s Why

Posted by George Bondi on Jun 9th, 2026

Rigetti Computing, Inc. (NASDAQ:RGTI – Get Free Report)’s stock price dropped 9.5% during trading on Tuesday . The company traded as low as $18.47 and last traded at $19.69. Approximately 48,796,150 shares traded hands during mid-day trading, an increase of 36% from the average daily volume of 35,951,047 shares. The stock had previously closed at $21.76.

Analysts Set New Price Targets

RGTI has been the subject of a number of research reports. Needham & Company LLC reiterated a “buy” rating and issued a $31.00 price target on shares of Rigetti Computing in a research note on Tuesday, May 12th. Rosenblatt Securities reiterated a “buy” rating and issued a $40.00 price target on shares of Rigetti Computing in a research note on Thursday, March 5th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Rigetti Computing in a research note on Tuesday, June 2nd. Benchmark decreased their price target on Rigetti Computing from $35.00 to $25.00 and set a “buy” rating for the company in a research note on Friday, March 20th. Finally, Wall Street Zen upgraded Rigetti Computing from a “sell” rating to a “hold” rating in a research note on Saturday, May 23rd. Eight analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $29.18.

Check Out Our Latest Analysis on Rigetti Computing

Rigetti Computing Price Performance

The stock’s fifty day simple moving average is $18.82 and its 200-day simple moving average is $20.31. The stock has a market cap of $6.54 billion, a P/E ratio of -22.63 and a beta of 1.88.

Rigetti Computing (NASDAQ:RGTI – Get Free Report) last issued its earnings results on Monday, May 11th. The company reported ($0.04) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.01. Rigetti Computing had a negative net margin of 2,789.71% and a negative return on equity of 10.40%. The firm had revenue of $4.40 million for the quarter, compared to analysts’ expectations of $4.09 million. During the same quarter last year, the company posted ($0.05) earnings per share. Rigetti Computing’s revenue was up 198.9% on a year-over-year basis. Analysts forecast 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 firm’s stock in a transaction dated Friday, May 29th. The shares were sold at an average price of $25.40, for a total value of $12,682,931.20. Following the transaction, the chief technology officer owned 325,945 shares of the company’s stock, valued at $8,279,003. This trade represents a 60.50% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Jeffrey A. Bertelsen sold 3,682 shares of the firm’s stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $22.95, for a total transaction of $84,501.90. Following the completion of the transaction, the chief financial officer directly owned 171,927 shares in the company, valued at $3,945,724.65. This represents a 2.10% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 521,769 shares of company stock worth $13,198,140 in the last three months. 1.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Rigetti Computing

A number of hedge funds have recently made changes to their positions in RGTI. Vanguard Group Inc. raised its holdings in shares of Rigetti Computing by 40.4% during the third quarter. Vanguard Group Inc. now owns 32,046,477 shares of the company’s stock valued at $954,665,000 after buying an additional 9,228,888 shares during the last quarter. Victory Capital Management Inc. raised its holdings in shares of Rigetti Computing by 1,632.5% during the fourth quarter. Victory Capital Management Inc. now owns 2,571,289 shares of the company’s stock valued at $56,954,000 after buying an additional 2,422,873 shares during the last quarter. Ameriprise Financial Inc. bought a new stake in shares of Rigetti Computing during the second quarter valued at approximately $21,887,000. Norges Bank bought a new stake in shares of Rigetti Computing during the fourth quarter valued at approximately $38,889,000. Finally, Clear Street Group Inc. bought a new stake in shares of Rigetti Computing during the third quarter valued at approximately $47,752,000. Institutional investors own 35.38% of the company’s stock.

About Rigetti Computing

(Get Free Report)

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.