Leerink Partnrs Downgrades 908 Devices (NASDAQ:MASS) to Hold

908 Devices (NASDAQ:MASS) was downgraded by equities researchers at Leerink Partnrs from a “strong-buy” rating to a “hold” rating in a note issued to investors on Wednesday,Zacks.com reports.

A number of other analysts have also recently commented on the stock. Stifel Nicolaus dropped their price target on shares of 908 Devices from $17.00 to $6.00 and set a “buy” rating on the stock in a research note on Wednesday. Leerink Partners reaffirmed a “market perform” rating and set a $4.00 target price (down previously from $12.00) on shares of 908 Devices in a report on Wednesday.

908 Devices Trading Down 19.9 %

Shares of MASS stock opened at $2.34 on Wednesday. The stock has a market capitalization of $81.10 million, a P/E ratio of -1.32 and a beta of 0.98. The firm’s 50 day moving average is $3.47 and its 200 day moving average is $4.70. 908 Devices has a 12 month low of $2.33 and a 12 month high of $12.51.

Institutional Trading of 908 Devices

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Bank of New York Mellon Corp increased its holdings in 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 worth $358,000 after acquiring an additional 4,212 shares during the period. 49 Wealth Management LLC increased its holdings in shares of 908 Devices by 16.2% in the 3rd quarter. 49 Wealth Management LLC now owns 31,099 shares of the company’s stock worth $108,000 after buying an additional 4,343 shares during the last quarter. American Century Companies Inc. increased its holdings 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 worth $174,000 after buying an additional 5,295 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of 908 Devices by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 1,751,102 shares of the company’s stock worth $13,221,000 after buying an additional 6,772 shares during the last quarter. Finally, GAMMA Investing LLC bought a new position in shares of 908 Devices in the 2nd quarter worth $48,000. Institutional investors 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.