Leerink Partnrs Downgrades 908 Devices (NASDAQ:MASS) to Hold

Leerink Partnrs lowered shares of 908 Devices (NASDAQ:MASS - Free Report) from a strong-buy rating to a hold rating in a research report report published on Wednesday,Zacks.com reports.

Several other research firms have also issued reports on MASS. Leerink Partners restated a "market perform" rating and set a $4.00 price target (down previously from $12.00) on shares of 908 Devices in a report on Wednesday. Stifel Nicolaus cut their price target 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.

908 Devices Stock Performance

Shares of MASS stock traded down $0.06 on Wednesday, hitting $2.28. The company had a trading volume of 987,412 shares, compared to its average volume of 202,725. 908 Devices has a twelve month low of $2.19 and a twelve month high of $12.51. The firm has a market cap of $79.02 million, a P/E ratio of -1.32 and a beta of 0.98. The stock's 50-day moving average is $3.47 and its two-hundred day moving average is $4.70.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. grew its stake in shares of 908 Devices by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 1,751,102 shares of the company's stock valued at $13,221,000 after buying an additional 6,772 shares during the period. AWM Investment Company Inc. grew its stake in 908 Devices by 2.3% in the first quarter. AWM Investment Company Inc. now owns 668,526 shares of the company's stock valued at $5,047,000 after acquiring an additional 15,058 shares during the period. Millennium Management LLC raised its position in shares of 908 Devices by 35.5% during the second quarter. Millennium Management LLC now owns 618,310 shares of the company's stock worth $3,184,000 after purchasing an additional 161,922 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of 908 Devices by 88.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 245,176 shares of the company's stock worth $1,263,000 after purchasing an additional 114,987 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position 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 valued at $765,000 after purchasing an additional 28,015 shares during the period. 88.06% of the stock is owned by institutional investors.

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.