ARK Investment Management LLC Has $11.17 Million Holdings in 908 Devices Inc. (NASDAQ:MASS)

ARK Investment Management LLC reduced its position in 908 Devices Inc. (NASDAQ:MASS) by 18.2% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,219,549 shares of the company’s stock after selling 718,082 shares during the period. ARK Investment Management LLC owned approximately 9.29% of 908 Devices worth $11,172,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of MASS. GAMMA Investing LLC bought a new position in shares of 908 Devices in the second quarter valued at $48,000. SG Americas Securities LLC acquired a new stake in shares of 908 Devices in the 3rd quarter worth about $36,000. State Board of Administration of Florida Retirement System bought a new position in 908 Devices in the 1st quarter valued at about $80,000. American Century Companies Inc. boosted its stake in 908 Devices by 18.6% during the 2nd quarter. American Century Companies Inc. now owns 33,718 shares of the company’s stock valued at $174,000 after purchasing an additional 5,295 shares during the last quarter. Finally, Marshall Wace LLP purchased a new position in shares of 908 Devices during the second quarter valued at approximately $229,000. Institutional investors and hedge funds own 88.06% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Leerink Partners cut their price objective on shares of 908 Devices from $15.00 to $12.00 and set an “outperform” rating on the stock in a report on Thursday, October 17th.

908 Devices Stock Performance

NASDAQ:MASS opened at $3.64 on Friday. 908 Devices Inc. has a 52 week low of $3.13 and a 52 week high of $12.51. The firm has a 50-day moving average price of $3.53 and a two-hundred day moving average price of $4.78. The firm has a market cap of $126.15 million, a price-to-earnings ratio of -3.35 and a beta of 0.98.

908 Devices (NASDAQ:MASS) last posted its quarterly earnings data on Tuesday, August 6th. The company reported ($0.32) earnings per share for the quarter, topping the consensus estimate of ($0.34) by $0.02. 908 Devices had a negative return on equity of 22.47% and a negative net margin of 72.10%. The business had revenue of $14.05 million for the quarter, compared to analysts’ expectations of $13.69 million. As a group, sell-side analysts forecast that 908 Devices Inc. will post -1.22 earnings per share for the current year.

908 Devices Company Profile

908 Devices Inc, a commercial-stage technology company, provides various purpose-built handheld and desktop mass spectrometry devices to interrogate unknown and invisible materials in life sciences research, bioprocessing, pharma/biopharma, forensics, and adjacent markets. The company's products include MX908, a handheld, battery-powered, and Mass Spec device that is designed for rapid analysis of solid, liquid, vapor, and aerosol materials of unknown identity; Rebel, a small desktop analyzer that provides real-time information on the extracellular environment in bioprocesses; and Maverick, an optical in-line analyzer that offers real-time monitoring and control of multiple bioprocess parameters, including glucose, lactate, and total biomass in mammalian cell cultures, as well as provides process fingerprint data to support large-scale efforts in predictive bioprocess modeling.