908 Devices (NASDAQ:MASS) Given Overweight Rating at Stephens

Stephens reiterated their overweight rating on shares of 908 Devices (NASDAQ:MASS) in a research report report published on Wednesday,Benzinga reports. The brokerage currently has a $6.00 price target on the stock.

A number of other research analysts have also issued reports on MASS. 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 note on Wednesday, November 13th. Leerink Partners reissued a “market perform” rating and set a $4.00 price target (down from $12.00) on shares of 908 Devices in a research report on Wednesday, November 13th. Finally, Leerink Partnrs downgraded 908 Devices from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 13th.

908 Devices Stock Performance

Shares of MASS stock opened at $2.91 on Wednesday. 908 Devices has a fifty-two week low of $1.81 and a fifty-two week high of $8.50. The firm has a market capitalization of $101.33 million, a price-to-earnings ratio of -1.64 and a beta of 0.96. The stock’s 50-day simple moving average is $2.41 and its 200-day simple moving average is $3.53.

Institutional Investors Weigh In On 908 Devices

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Millennium Management LLC lifted its stake in shares of 908 Devices by 35.5% in the 2nd quarter. Millennium Management LLC now owns 618,310 shares of the company’s stock valued at $3,184,000 after purchasing an additional 161,922 shares during the period. Dimensional Fund Advisors LP raised its position in shares of 908 Devices by 88.3% in the second quarter. Dimensional Fund Advisors LP now owns 245,176 shares of the company’s stock worth $1,263,000 after acquiring an additional 114,987 shares during the period. AQR Capital Management LLC acquired a new position in shares of 908 Devices in the second quarter worth about $585,000. Renaissance Technologies LLC boosted its stake in shares of 908 Devices by 79.4% during the 2nd quarter. Renaissance Technologies LLC now owns 195,500 shares of the company’s stock worth $1,007,000 after acquiring an additional 86,500 shares in the last quarter. Finally, Cubist Systematic Strategies LLC acquired a new stake in shares of 908 Devices during the 2nd quarter valued at about $311,000. Institutional investors and hedge funds 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.