908 Devices Inc. (NASDAQ:MASS) Shares Sold by Fred Alger Management LLC

Fred Alger Management LLC reduced its position in 908 Devices Inc. (NASDAQ:MASS - Free Report) by 18.5% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 820,448 shares of the company's stock after selling 185,789 shares during the period. Fred Alger Management LLC owned about 2.37% of 908 Devices worth $2,847,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. SG Americas Securities LLC purchased a new position in shares of 908 Devices during the 3rd quarter worth approximately $36,000. GAMMA Investing LLC purchased a new stake in 908 Devices during the 2nd quarter worth about $48,000. Drive Wealth Management LLC purchased a new position in 908 Devices in the 3rd quarter valued at about $50,000. Townsquare Capital LLC acquired a new stake in shares of 908 Devices during the 3rd quarter worth about $50,000. Finally, 49 Wealth Management LLC grew its holdings in shares of 908 Devices by 16.2% during the third quarter. 49 Wealth Management LLC now owns 31,099 shares of the company's stock worth $108,000 after buying an additional 4,343 shares in the last quarter. 88.06% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the stock. Stifel Nicolaus decreased their target price on shares of 908 Devices from $17.00 to $6.00 and set a "buy" rating on the stock in a research report on Wednesday, November 13th. Leerink Partners reissued a "market perform" rating and issued a $4.00 price target (down from $12.00) on shares of 908 Devices in a research note on Wednesday, November 13th. Finally, Leerink Partnrs lowered shares of 908 Devices from a "strong-buy" rating to a "hold" rating in a report on Wednesday, November 13th.

908 Devices Price Performance

MASS stock traded up $0.13 during midday trading on Monday, reaching $2.87. 198,924 shares of the company's stock traded hands, compared to its average volume of 213,227. The business has a 50-day moving average price of $3.22 and a two-hundred day moving average price of $4.40. 908 Devices Inc. has a fifty-two week low of $2.19 and a fifty-two week high of $12.51. The company has a market capitalization of $99.94 million, a P/E ratio of -1.62 and a beta of 0.98.

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.