908 Devices’ (MASS) Market Perform Rating Reaffirmed at Leerink Partners

Leerink Partners reiterated their market perform rating on shares of 908 Devices (NASDAQ:MASS) in a research report sent to investors on Wednesday morning, MarketBeat.com reports. The brokerage currently has a $4.00 price target on the stock, down from their prior price target of $12.00.

908 Devices Trading Down 19.9 %

Shares of NASDAQ MASS opened at $2.34 on Wednesday. 908 Devices has a 12-month low of $2.33 and a 12-month high of $12.51. The company has a market cap of $81.10 million, a price-to-earnings ratio of -1.32 and a beta of 0.98. The stock’s 50 day simple moving average is $3.47 and its 200 day simple moving average is $4.70.

Hedge Funds Weigh In On 908 Devices

Several institutional investors have recently modified their holdings of MASS. Townsquare Capital LLC acquired a new position in shares of 908 Devices during the third quarter worth approximately $50,000. 49 Wealth Management LLC grew its holdings in shares of 908 Devices by 16.2% in the 3rd quarter. 49 Wealth Management LLC now owns 31,099 shares of the company’s stock worth $108,000 after acquiring an additional 4,343 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in 908 Devices by 14.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 220,477 shares of the company’s stock worth $765,000 after purchasing an additional 28,015 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of 908 Devices in the third quarter worth approximately $190,000. Finally, Drive Wealth Management LLC purchased a new position in 908 Devices during the 3rd quarter worth approximately $50,000. Institutional investors own 88.06% of the company’s stock.

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.