Leerink Partners Reaffirms Market Perform Rating for 908 Devices (NASDAQ:MASS)

908 Devices (NASDAQ:MASS - Get Free Report)'s stock had its "market perform" rating reaffirmed by Leerink Partners in a research note issued to investors on Wednesday, MarketBeat.com reports. They currently have a $4.00 target price on the stock, down from their previous target price of $12.00. Leerink Partners' price objective suggests a potential upside of 66.67% from the stock's previous close.

908 Devices Stock Down 17.8 %

Shares of MASS stock traded down $0.52 on Wednesday, hitting $2.40. 472,381 shares of the stock traded hands, compared to its average volume of 198,535. 908 Devices has a 52 week low of $2.38 and a 52 week high of $12.51. The firm has a 50 day simple moving average of $3.50 and a two-hundred day simple moving average of $4.72.

Institutional Trading of 908 Devices

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. SG Americas Securities LLC purchased a new stake in 908 Devices during the 3rd quarter valued at approximately $36,000. GAMMA Investing LLC purchased a new position in 908 Devices during the second quarter valued at $48,000. Drive Wealth Management LLC bought a new stake in 908 Devices in the 3rd quarter valued at $50,000. State Board of Administration of Florida Retirement System purchased a new stake in 908 Devices in the 1st quarter worth $80,000. Finally, 49 Wealth Management LLC boosted its holdings in shares of 908 Devices by 16.2% during the 3rd quarter. 49 Wealth Management LLC now owns 31,099 shares of the company's stock valued at $108,000 after purchasing an additional 4,343 shares during the last quarter. Institutional investors own 88.06% of the company's stock.

About 908 Devices

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.