Insider Selling: 908 Devices Inc. (NASDAQ:MASS) Insider Sells 9,672 Shares of Stock

908 Devices Inc. (NASDAQ:MASS) insider Michael S. Turner sold 9,672 shares of 908 Devices stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $2.33, for a total value of $22,535.76. Following the sale, the insider now owns 24,603 shares of the company’s stock, valued at approximately $57,324.99. This trade represents a 28.22 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

908 Devices Price Performance

MASS stock opened at $2.37 on Wednesday. 908 Devices Inc. has a one year low of $1.81 and a one year high of $7.91. The company’s 50 day moving average price is $2.35 and its two-hundred day moving average price is $3.27.

Hedge Funds Weigh In On 908 Devices

A number of large investors have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP boosted its position in 908 Devices by 88.3% during the second 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. Renaissance Technologies LLC lifted its stake in shares of 908 Devices by 79.4% in the 2nd quarter. Renaissance Technologies LLC now owns 195,500 shares of the company’s stock valued at $1,007,000 after acquiring an additional 86,500 shares during the last quarter. Marshall Wace LLP purchased a new stake in 908 Devices during the 2nd quarter valued at about $229,000. Squarepoint Ops LLC bought a new position in 908 Devices during the 2nd quarter worth approximately $250,000. Finally, AQR Capital Management LLC purchased a new position in 908 Devices in the 2nd quarter worth approximately $585,000. Hedge funds and other institutional investors own 88.06% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Stifel Nicolaus lowered their target price 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, November 13th. Leerink Partnrs cut shares of 908 Devices from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 13th. Stephens reiterated an “overweight” rating and issued a $6.00 target price on shares of 908 Devices in a research report on Wednesday, January 15th. Leerink Partners restated a “market perform” rating and set a $4.00 price target (down previously from $12.00) on shares of 908 Devices in a research report on Wednesday, November 13th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of 908 Devices in a research note on Saturday. Two analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $5.33.

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.