908 Devices Inc. (NASDAQ:MASS) Shares Sold by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. lessened its stake in 908 Devices Inc. (NASDAQ:MASS) by 5.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 467,427 shares of the company’s stock after selling 27,795 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned about 1.34% of 908 Devices worth $1,028,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. SG Americas Securities LLC purchased a new position in shares of 908 Devices in the 3rd quarter valued at $36,000. Drive Wealth Management LLC purchased a new position in shares of 908 Devices in the 3rd quarter valued at $50,000. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of 908 Devices in the 3rd quarter valued at $190,000. Charles Schwab Investment Management Inc. raised its stake in shares of 908 Devices by 14.6% in 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. Finally, 49 Wealth Management LLC raised its stake 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 valued at $108,000 after acquiring an additional 4,343 shares during the period. Institutional investors and hedge funds own 88.06% of the company’s stock.

Wall Street Analysts Forecast Growth

MASS has been the topic of a number of research reports. Stifel Nicolaus cut 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. Weiss Ratings reissued a “sell (e+)” rating on shares of 908 Devices in a research note on Saturday, February 1st. Stephens reaffirmed an “overweight” rating and set a $6.00 price target on shares of 908 Devices in a research note on Wednesday, January 15th. Leerink Partnrs downgraded shares of 908 Devices from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 13th. Finally, Leerink Partners reaffirmed a “market perform” rating and set a $4.00 price target (down previously from $12.00) on shares of 908 Devices in a research note on Wednesday, November 13th. Two investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $5.33.

908 Devices Price Performance

908 Devices stock opened at $2.78 on Friday. 908 Devices Inc. has a 12-month low of $1.81 and a 12-month high of $7.91. The company has a market capitalization of $96.80 million, a price-to-earnings ratio of -1.57 and a beta of 0.99. The firm’s fifty day moving average price is $2.35 and its 200 day moving average price is $3.13.

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.