908 Devices Inc. to Post Q4 2024 Earnings of ($0.17) Per Share, Leerink Partnrs Forecasts (NASDAQ:MASS)

908 Devices Inc. (NASDAQ:MASS) – Equities researchers at Leerink Partnrs raised their Q4 2024 EPS estimates for shares of 908 Devices in a research note issued on Tuesday, August 6th. Leerink Partnrs analyst P. Souda now forecasts that the company will post earnings per share of ($0.17) for the quarter, up from their prior estimate of ($0.19). The consensus estimate for 908 Devices’ current full-year earnings is ($1.13) per share. Leerink Partnrs also issued estimates for 908 Devices’ Q1 2025 earnings at ($0.31) EPS, Q4 2025 earnings at ($0.16) EPS and FY2025 earnings at ($0.97) EPS.

Separately, Stephens restated an “overweight” rating and set a $14.00 target price on shares of 908 Devices in a research note on Monday, May 13th.

908 Devices Price Performance

MASS stock opened at $4.35 on Friday. The company has a 50-day moving average of $5.37 and a two-hundred day moving average of $6.22. The stock has a market capitalization of $150.01 million, a price-to-earnings ratio of -4.07 and a beta of 1.02. 908 Devices has a 52-week low of $4.33 and a 52-week high of $12.51.

Insider Buying and Selling

In related news, CEO Kevin J. Knopp purchased 10,000 shares of the firm’s stock in a transaction on Monday, May 13th. The shares were bought at an average cost of $6.42 per share, for a total transaction of $64,200.00. Following the transaction, the chief executive officer now directly owns 508,981 shares of the company’s stock, valued at approximately $3,267,658.02. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 27.80% of the stock is currently owned by insiders.

Hedge Funds Weigh In On 908 Devices

Several large investors have recently added to or reduced their stakes in the company. Renaissance Technologies LLC increased its position in shares of 908 Devices by 79.4% during the second quarter. Renaissance Technologies LLC now owns 195,500 shares of the company’s stock valued at $1,007,000 after purchasing an additional 86,500 shares during the period. Dimensional Fund Advisors LP increased its holdings in 908 Devices by 88.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 245,176 shares of the company’s stock valued at $1,263,000 after buying an additional 114,987 shares during the period. American Century Companies Inc. raised its stake in shares of 908 Devices by 18.6% in the 2nd quarter. American Century Companies Inc. now owns 33,718 shares of the company’s stock valued at $174,000 after buying an additional 5,295 shares in the last quarter. ClariVest Asset Management LLC bought a new position in shares of 908 Devices during the 2nd quarter worth about $668,000. Finally, Bank of New York Mellon Corp boosted its position in shares of 908 Devices by 6.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 69,550 shares of the company’s stock valued at $358,000 after acquiring an additional 4,212 shares in the last quarter. 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.