Connor Clark & Lunn Investment Management Ltd. Makes New $190,000 Investment in 908 Devices Inc. (NASDAQ:MASS)

Connor Clark & Lunn Investment Management Ltd. acquired a new position in 908 Devices Inc. (NASDAQ:MASS) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 54,816 shares of the company’s stock, valued at approximately $190,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in MASS. Vanguard Group Inc. increased its position in 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 in the last quarter. GAMMA Investing LLC bought a new stake in shares of 908 Devices during the second quarter valued at approximately $48,000. Bank of New York Mellon Corp increased its holdings 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 valued at $358,000 after acquiring an additional 4,212 shares in the last quarter. ClariVest Asset Management LLC acquired a new position in shares of 908 Devices during the second quarter worth approximately $668,000. Finally, American Century Companies Inc. lifted its holdings in shares of 908 Devices by 18.6% in the 2nd 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 in the last quarter. 88.06% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on MASS shares. Leerink Partnrs lowered shares of 908 Devices from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 13th. Leerink Partners restated a “market perform” rating and issued a $4.00 target price (down previously from $12.00) on shares of 908 Devices in a report on Wednesday, November 13th. Finally, Stifel Nicolaus decreased their price objective on 908 Devices from $17.00 to $6.00 and set a “buy” rating for the company in a report on Wednesday, November 13th.

908 Devices Trading Up 4.6 %

Shares of 908 Devices stock opened at $2.74 on Monday. The company’s 50-day moving average price is $3.22 and its 200-day moving average price is $4.40. 908 Devices Inc. has a 12-month low of $2.19 and a 12-month high of $12.51. The company has a market cap of $95.42 million, a price-to-earnings ratio of -1.55 and a beta of 0.98.

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.