** Rigetti Computing Inc's RGTI.O shares reverse early losses and swing into positive territory on Thurs after Q4 results

** RGTI shares last up 9% at $8.92, near session highs, after falling as low as $7.20 in early trade

** Berkeley, California-based quantum-computing firm late Weds reported Q4 net loss of of ~$153 mln, vs loss of $12.6 mln loss a yr-ago, including $135.1 mln of non-cash charges in earn-out and derivative warrant liabilities

** Its operating loss of $18.5 mln was above Wall Street's estimated $16 mln loss, per LSEG data

** Rev in qtr fell to $2.3 mln from $3.4 mln in comp period last year, just below consensus of $2.5 mln

** CEO Subodh Kulkarni said on call with analysts that co remains in R&D mode currently, adding it is "still roughly four to five years away before commercial sales matter"

** TD Cowen, which rates RTGI 'buy", said in note co's tech roadmap remains well positioned to vie for Department of Defense and Department of Energy program funds

** All 6 brokerages covering RGTI rate stock "buy"; median PT of $15 up from $8.50 a month ago and from $3.25 on Dec 6

** With move on Thurs, stock off >40% YTD. Stock ended Oct at $1.32

** On Feb 20, most quantum computing stocks rose after Microsoft MSFT.O launched a new chip indicating the technology is not "decades away" as stated by Nvidia's NVDA.O CEO

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@tr.com 1-646-279-6380))