908 Devices (NASDAQ:MASS) PT Lowered to $12.00 at Leerink Partners

908 Devices (NASDAQ:MASS) had its price target trimmed by Leerink Partners from $15.00 to $12.00 in a research note published on Thursday morning, Benzinga reports. The brokerage currently has an outperform rating on the stock.

908 Devices Stock Up 4.7 %

Shares of NASDAQ MASS opened at $3.59 on Thursday. The firm has a market cap of $123.80 million, a PE ratio of -3.36 and a beta of 0.97. 908 Devices has a 12-month low of $3.24 and a 12-month high of $12.51. The company’s fifty day simple moving average is $3.73 and its 200 day simple moving average is $5.03.

908 Devices (NASDAQ:MASS) last issued its earnings results on Tuesday, August 6th. The company reported ($0.32) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.34) by $0.02. The business had revenue of $14.05 million for the quarter, compared to analyst estimates of $13.69 million. 908 Devices had a negative net margin of 72.10% and a negative return on equity of 22.47%. On average, equities analysts predict that 908 Devices will post -1.21 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. State Board of Administration of Florida Retirement System bought a new position in shares of 908 Devices in the first quarter valued at $80,000. Vanguard Group Inc. lifted its stake in shares of 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 buying an additional 6,772 shares in the last quarter. AWM Investment Company Inc. lifted its stake in shares of 908 Devices by 2.3% in the first quarter. AWM Investment Company Inc. now owns 668,526 shares of the company’s stock valued at $5,047,000 after buying an additional 15,058 shares in the last quarter. GAMMA Investing LLC bought a new position in shares of 908 Devices in the second quarter valued at $48,000. Finally, Bank of New York Mellon Corp lifted its stake in shares of 908 Devices by 6.4% in the second quarter. Bank of New York Mellon Corp now owns 69,550 shares of the company’s stock valued at $358,000 after buying an additional 4,212 shares in the last quarter. 88.06% of the stock is owned by institutional investors.

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.