Fred Alger Management LLC Sells 185,789 Shares of 908 Devices Inc. (NASDAQ:MASS)

Fred Alger Management LLC cut its stake in 908 Devices Inc. (NASDAQ:MASS) by 18.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 820,448 shares of the company’s stock after selling 185,789 shares during the period. Fred Alger Management LLC owned 2.37% of 908 Devices worth $2,847,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the stock. SG Americas Securities LLC acquired a new position in shares of 908 Devices in the 3rd quarter worth approximately $36,000. GAMMA Investing LLC acquired a new position in 908 Devices in the second quarter valued at $48,000. Drive Wealth Management LLC bought a new stake in 908 Devices during the third quarter valued at $50,000. Townsquare Capital LLC acquired a new stake in 908 Devices during the 3rd quarter worth about $50,000. Finally, 49 Wealth Management LLC raised its position 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 in the last quarter. 88.06% of the stock is currently owned by institutional investors.

908 Devices Stock Performance

MASS stock opened at $2.74 on Monday. 908 Devices Inc. has a fifty-two week low of $2.19 and a fifty-two week high of $12.51. The stock’s 50 day simple moving average is $3.22 and its 200 day simple moving average is $4.40. The company has a market cap of $95.42 million, a P/E ratio of -1.55 and a beta of 0.98.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Leerink Partners reaffirmed a “market perform” rating and set a $4.00 target price (down previously from $12.00) on shares of 908 Devices in a research note on Wednesday, November 13th. Stifel Nicolaus reduced their price objective on shares of 908 Devices from $17.00 to $6.00 and set a “buy” rating for the company in a research report on Wednesday, November 13th. Finally, Leerink Partnrs downgraded shares of 908 Devices from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 13th.

908 Devices 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.