908 Devices (NASDAQ:MASS) Price Target Cut to $6.00 by Analysts at Stifel Nicolaus

908 Devices (NASDAQ:MASS) had its target price trimmed by Stifel Nicolaus from $17.00 to $6.00 in a research note published on Wednesday morning,Benzinga reports. The firm currently has a buy rating on the stock.

Separately, Leerink Partners reaffirmed a “market perform” rating and set a $4.00 price objective (down from $12.00) on shares of 908 Devices in a research note on Wednesday.

908 Devices Stock Performance

NASDAQ:MASS traded down $0.13 during mid-day trading on Wednesday, reaching $2.21. The stock had a trading volume of 80,826 shares, compared to its average volume of 198,930. 908 Devices has a one year low of $2.20 and a one year high of $12.51. The firm has a 50 day moving average price of $3.47 and a two-hundred day moving average price of $4.70. The stock has a market capitalization of $76.60 million, a P/E ratio of -1.32 and a beta of 0.98.

Hedge Funds Weigh In On 908 Devices

Several hedge funds and other institutional investors have recently bought and sold shares of MASS. Vanguard Group Inc. boosted its stake in shares of 908 Devices by 0.4% during the 1st 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 during the last quarter. AWM Investment Company Inc. increased its position in 908 Devices by 2.3% in the first quarter. AWM Investment Company Inc. now owns 668,526 shares of the company’s stock worth $5,047,000 after buying an additional 15,058 shares in the last quarter. Millennium Management LLC raised its stake in shares of 908 Devices by 35.5% in the second quarter. Millennium Management LLC now owns 618,310 shares of the company’s stock worth $3,184,000 after buying an additional 161,922 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of 908 Devices by 88.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 245,176 shares of the company’s stock valued at $1,263,000 after acquiring an additional 114,987 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of 908 Devices by 14.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 220,477 shares of the company’s stock valued at $765,000 after acquiring an additional 28,015 shares during the period. Institutional investors 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.