908 Devices (NASDAQ:MASS) Receives “Market Perform” Rating from Leerink Partners

908 Devices (NASDAQ:MASS)‘s stock had its “market perform” rating reiterated by research analysts at Leerink Partners in a research note issued to investors on Wednesday,Benzinga reports. They currently have a $4.00 price target on the stock. Leerink Partners’ price target would suggest a potential upside of 36.99% from the stock’s previous close.

908 Devices Stock Down 19.3 %

MASS opened at $2.92 on Wednesday. 908 Devices has a 52 week low of $2.86 and a 52 week high of $12.51. The business has a fifty day simple moving average of $3.50 and a 200-day simple moving average of $4.72. The firm has a market cap of $101.21 million, a P/E ratio of -2.54 and a beta of 0.98.

Institutional Trading of 908 Devices

Several hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. raised its stake in shares of 908 Devices by 0.4% in the first quarter. Vanguard Group Inc. now owns 1,751,102 shares of the company’s stock valued at $13,221,000 after acquiring an additional 6,772 shares in the last quarter. AWM Investment Company Inc. raised its stake in shares of 908 Devices by 2.3% in the first quarter. AWM Investment Company Inc. now owns 668,526 shares of the company’s stock valued at $5,047,000 after acquiring 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 valued at $3,184,000 after acquiring an additional 161,922 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of 908 Devices by 88.3% in the second 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 in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in 908 Devices by 14.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 220,477 shares of the company’s stock valued at $765,000 after buying an additional 28,015 shares in the last quarter. 88.06% of the stock is currently owned by institutional investors and hedge funds.

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.