ARK Investment Management LLC Sells 430,983 Shares of 908 Devices Inc. (NASDAQ:MASS)

ARK Investment Management LLC lessened its stake in 908 Devices Inc. (NASDAQ:MASS) by 13.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,788,566 shares of the company’s stock after selling 430,983 shares during the quarter. ARK Investment Management LLC owned about 0.08% of 908 Devices worth $6,135,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. 49 Wealth Management LLC increased its holdings in 908 Devices by 16.2% in the third 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 last quarter. State Street Corp grew its stake in 908 Devices by 1.2% in the third quarter. State Street Corp now owns 479,044 shares of the company’s stock valued at $1,662,000 after acquiring an additional 5,704 shares during the period. Geode Capital Management LLC grew its stake in 908 Devices by 1.2% in the third quarter. Geode Capital Management LLC now owns 567,788 shares of the company’s stock valued at $1,970,000 after acquiring an additional 6,634 shares during the period. SG Americas Securities LLC acquired a new position in 908 Devices in the third quarter valued at about $36,000. Finally, B. Riley Wealth Advisors Inc. acquired a new position in 908 Devices in the third quarter valued at about $45,000. Institutional investors own 88.06% of the company’s stock.

908 Devices Price Performance

MASS stock opened at $2.41 on Wednesday. The stock has a market capitalization of $83.92 million, a P/E ratio of -1.36 and a beta of 0.98. The business has a 50-day moving average of $2.41 and a 200-day moving average of $3.00. 908 Devices Inc. has a fifty-two week low of $1.81 and a fifty-two week high of $7.91.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Stephens reissued an “overweight” rating and issued a $6.00 target price on shares of 908 Devices in a research note on Wednesday, January 15th. Leerink Partners reissued a “market perform” rating and issued a $4.00 target price (down from $12.00) on shares of 908 Devices in a research note on Wednesday, November 13th. Leerink Partnrs cut 908 Devices from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 13th. Stifel Nicolaus reduced their price objective on 908 Devices from $17.00 to $6.00 and set a “buy” rating for the company in a research report on Wednesday, November 13th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of 908 Devices in a research report on Wednesday, February 19th. Two investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $5.33.

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.