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

908 Devices (NASDAQ:MASS)‘s stock had its “market perform” rating reaffirmed by stock analysts at Leerink Partners in a research report issued on Wednesday, Marketbeat Ratings reports. They presently have a $4.00 target price on the stock, down from their previous target price of $12.00. Leerink Partners’ price objective suggests a potential upside of 68.07% from the stock’s current price.

908 Devices Stock Performance

908 Devices stock opened at $2.38 on Wednesday. 908 Devices has a fifty-two week low of $2.19 and a fifty-two week high of $12.51. The firm has a 50 day moving average price of $3.47 and a 200 day moving average price of $4.70. The company has a market capitalization of $82.49 million, a PE ratio of -1.32 and a beta of 0.98.

Institutional Trading of 908 Devices

Institutional investors have recently added to or reduced their stakes in the stock. Millennium Management LLC increased its holdings in 908 Devices by 35.5% in the 2nd quarter. Millennium Management LLC now owns 618,310 shares of the company’s stock valued at $3,184,000 after purchasing an additional 161,922 shares during the last quarter. Vanguard Group Inc. grew 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 worth $13,221,000 after acquiring an additional 6,772 shares in the last quarter. American Century Companies Inc. grew its stake in shares of 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 acquiring an additional 5,295 shares in the last quarter. Squarepoint Ops LLC acquired a new position in shares of 908 Devices in the second quarter worth $250,000. Finally, GAMMA Investing LLC acquired a new position in shares of 908 Devices in the second quarter worth $48,000. Institutional investors and hedge funds own 88.06% of the company’s stock.

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.