908 Devices (NASDAQ:MASS) Lowered to “Hold” Rating by Leerink Partnrs

Leerink Partnrs lowered shares of 908 Devices (NASDAQ:MASS) from a strong-buy rating to a hold rating in a research report released on Wednesday,Zacks.com reports.

Several other research analysts have also weighed in on the stock. Leerink Partners restated a “market perform” rating and set a $4.00 target price (down from $12.00) on shares of 908 Devices in a research report on Wednesday. Stifel Nicolaus dropped their price objective on 908 Devices from $17.00 to $6.00 and set a “buy” rating for the company in a research note on Wednesday.

908 Devices Stock Down 19.9 %

Shares of 908 Devices stock opened at $2.34 on Wednesday. The company’s 50-day simple moving average is $3.47 and its 200-day simple moving average is $4.70. 908 Devices has a 52-week low of $2.33 and a 52-week high of $12.51. The firm has a market cap of $81.10 million, a price-to-earnings ratio of -1.32 and a beta of 0.98.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in MASS. SG Americas Securities LLC purchased a new stake in shares of 908 Devices in the third quarter valued at $36,000. GAMMA Investing LLC purchased a new position in shares of 908 Devices during the 2nd quarter worth about $48,000. Drive Wealth Management LLC acquired a new stake in shares of 908 Devices in the third quarter worth approximately $50,000. Townsquare Capital LLC acquired a new position in 908 Devices during the third quarter worth approximately $50,000. Finally, State Board of Administration of Florida Retirement System purchased a new position in 908 Devices during the first quarter worth approximately $80,000. Institutional investors and hedge funds own 88.06% of the company’s stock.

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.