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 research note issued on Wednesday,Zacks.com reports.

MASS has been the topic of a number of other research reports. Leerink Partners reaffirmed a “market perform” rating and issued a $4.00 price objective (down previously from $12.00) on shares of 908 Devices in a research report on Wednesday. Stifel Nicolaus reduced their price target on 908 Devices from $17.00 to $6.00 and set a “buy” rating on the stock in a research report on Wednesday.

908 Devices Stock Up 1.7 %

Shares of NASDAQ:MASS opened at $2.38 on Wednesday. The firm has a 50 day moving average of $3.47 and a 200 day moving average of $4.70. The company has a market capitalization of $82.49 million, a price-to-earnings ratio of -1.32 and a beta of 0.98. 908 Devices has a 52 week low of $2.19 and a 52 week high of $12.51.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. SG Americas Securities LLC purchased a new stake in shares of 908 Devices during the third quarter valued at $36,000. GAMMA Investing LLC purchased a new stake in 908 Devices during the 2nd quarter valued at about $48,000. Drive Wealth Management LLC acquired a new position in shares of 908 Devices in the third quarter valued at about $50,000. Townsquare Capital LLC purchased a new position in shares of 908 Devices in the third quarter worth about $50,000. Finally, State Board of Administration of Florida Retirement System acquired a new stake in shares of 908 Devices during the first quarter worth about $80,000. Institutional investors and hedge funds 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.