908 Devices Inc. (NASDAQ:MASS) Shares Sold by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. cut its holdings in 908 Devices Inc. (NASDAQ:MASS) by 5.6% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 467,427 shares of the company’s stock after selling 27,795 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in 908 Devices were worth $1,028,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of MASS. SG Americas Securities LLC acquired a new position in 908 Devices during the 3rd quarter valued at about $36,000. B. Riley Wealth Advisors Inc. acquired a new position in 908 Devices during the 3rd quarter valued at about $45,000. Townsquare Capital LLC acquired a new position in 908 Devices during the 3rd quarter valued at about $50,000. Drive Wealth Management LLC acquired a new position in 908 Devices during the 3rd quarter valued at about $50,000. Finally, 49 Wealth Management LLC boosted its stake in 908 Devices by 16.2% during the 3rd quarter. 49 Wealth Management LLC now owns 31,099 shares of the company’s stock valued at $108,000 after purchasing an additional 4,343 shares during the period. 88.06% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have issued reports on MASS shares. Weiss Ratings reissued a “sell (e+)” rating on shares of 908 Devices in a research note on Saturday, February 1st. Stephens reissued an “overweight” rating and set a $6.00 target price on shares of 908 Devices in a research note on Wednesday, January 15th. Stifel Nicolaus reduced their target price on shares of 908 Devices from $17.00 to $6.00 and set a “buy” rating for the company in a research note on Wednesday, November 13th. Leerink Partnrs lowered shares of 908 Devices from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 13th. Finally, Leerink Partners reaffirmed a “market perform” rating and issued a $4.00 price target (down from $12.00) on shares of 908 Devices in a research note on Wednesday, November 13th. Two equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, 908 Devices presently has a consensus rating of “Moderate Buy” and an average price target of $5.33.

908 Devices Trading Up 8.6 %

Shares of NASDAQ:MASS opened at $2.78 on Friday. The company has a 50 day moving average of $2.35 and a 200-day moving average of $3.13. The firm has a market cap of $96.80 million, a P/E ratio of -1.57 and a beta of 0.99. 908 Devices Inc. has a twelve month low of $1.81 and a twelve month high of $7.91.

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.