908 Devices’ (MASS) Market Perform Rating Reiterated at Leerink Partners

Leerink Partners reiterated their market perform rating on shares of 908 Devices (NASDAQ:MASS) in a research report sent to investors on Wednesday, MarketBeat Ratings reports. They currently have a $4.00 target price on the stock, down from their previous target price of $12.00.

908 Devices Stock Performance

908 Devices stock opened at $2.39 on Wednesday. 908 Devices has a 1 year low of $2.19 and a 1 year high of $12.51. The firm’s 50-day moving average is $3.42 and its 200-day moving average is $4.66. The company has a market cap of $83.23 million, a P/E ratio of -1.35 and a beta of 0.98.

Hedge Funds Weigh In On 908 Devices

A number of hedge funds and other institutional investors have recently bought and sold shares of MASS. Millennium Management LLC lifted its holdings 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 worth $3,184,000 after purchasing an additional 161,922 shares during the last quarter. ClariVest Asset Management LLC bought a new stake in 908 Devices in the second quarter valued at $668,000. Dimensional Fund Advisors LP lifted its stake in 908 Devices by 88.3% in the second quarter. Dimensional Fund Advisors LP now owns 245,176 shares of the company’s stock valued at $1,263,000 after buying an additional 114,987 shares during the last quarter. AQR Capital Management LLC acquired a new position in shares of 908 Devices during the second quarter valued at $585,000. Finally, Renaissance Technologies LLC grew its position in shares of 908 Devices by 79.4% during the second 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 during the last quarter. 88.06% of the stock is currently owned by institutional investors and hedge funds.

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.