908 Devices (NASDAQ:MASS) Downgraded by Leerink Partnrs to “Hold”

Leerink Partnrs downgraded shares of 908 Devices (NASDAQ:MASS) from a strong-buy rating to a hold rating in a research note released on Wednesday morning,Zacks.com reports.

MASS has been the subject of a number of other reports. Stifel Nicolaus cut their price objective on 908 Devices from $17.00 to $6.00 and set a “buy” rating for the company in a research note on Wednesday. Leerink Partners restated a “market perform” rating and issued a $4.00 price target (down from $12.00) on shares of 908 Devices in a report on Wednesday.

908 Devices Stock Down 19.9 %

NASDAQ MASS opened at $2.34 on Wednesday. 908 Devices has a twelve month low of $2.33 and a twelve month high of $12.51. The stock’s 50 day moving average is $3.47 and its 200 day moving average is $4.70. The firm has a market capitalization of $81.10 million, a PE ratio of -1.32 and a beta of 0.98.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Bank of New York Mellon Corp increased its position in shares of 908 Devices by 6.4% during the second quarter. Bank of New York Mellon Corp now owns 69,550 shares of the company’s stock worth $358,000 after acquiring an additional 4,212 shares during the period. 49 Wealth Management LLC boosted its stake 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 valued at $108,000 after buying an additional 4,343 shares during the period. American Century Companies Inc. grew its position in shares of 908 Devices by 18.6% during the second quarter. American Century Companies Inc. now owns 33,718 shares of the company’s stock worth $174,000 after buying an additional 5,295 shares in the last quarter. Vanguard Group Inc. raised its holdings in 908 Devices by 0.4% in the first quarter. Vanguard Group Inc. now owns 1,751,102 shares of the company’s stock valued at $13,221,000 after acquiring an additional 6,772 shares in the last quarter. Finally, GAMMA Investing LLC purchased a new stake in shares of 908 Devices in the 2nd quarter valued at approximately $48,000. Hedge funds and other institutional investors 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.