Primecap Management Co. CA Cuts Holdings in 908 Devices Inc. (NASDAQ:MASS)

Primecap Management Co. CA lowered its holdings in 908 Devices Inc. (NASDAQ:MASS) by 19.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 20,000 shares of the company’s stock after selling 4,830 shares during the quarter. Primecap Management Co. CA owned 0.06% of 908 Devices worth $69,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. SG Americas Securities LLC bought a new stake in 908 Devices in the 3rd quarter worth about $36,000. GAMMA Investing LLC bought a new stake in shares of 908 Devices in the second quarter worth approximately $48,000. Drive Wealth Management LLC purchased a new position in shares of 908 Devices during the third quarter valued at approximately $50,000. State Board of Administration of Florida Retirement System bought a new position in 908 Devices during the first quarter valued at approximately $80,000. Finally, American Century Companies Inc. boosted its holdings in 908 Devices by 18.6% in the second quarter. American Century Companies Inc. now owns 33,718 shares of the company’s stock worth $174,000 after purchasing an additional 5,295 shares during the last quarter. 88.06% of the stock is owned by institutional investors.

908 Devices Price Performance

Shares of MASS stock opened at $2.56 on Friday. The company has a market cap of $89.14 million, a price-to-earnings ratio of -1.45 and a beta of 0.98. 908 Devices Inc. has a 1 year low of $2.19 and a 1 year high of $12.51. The firm has a fifty day moving average price of $3.32 and a 200-day moving average price of $4.55.

Analyst Ratings Changes

MASS has been the topic of several research analyst reports. Stifel Nicolaus lowered their price target on 908 Devices from $17.00 to $6.00 and set a “buy” rating on the stock in a report on Wednesday, November 13th. Leerink Partnrs downgraded 908 Devices from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 13th. Finally, Leerink Partners restated a “market perform” rating and set a $4.00 price target (down from $12.00) on shares of 908 Devices in a research note on Wednesday, November 13th.

908 Devices 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.