Leerink Partners Reaffirms “Market Perform” Rating for 908 Devices (NASDAQ:MASS)

908 Devices (NASDAQ:MASS)‘s stock had its “market perform” rating restated by equities research analysts at Leerink Partners in a report issued on Wednesday, MarketBeat reports. They currently have a $4.00 price target on the stock, down from their prior price target of $12.00. Leerink Partners’ price target would suggest a potential upside of 68.07% from the stock’s previous close.

908 Devices Trading Up 1.7 %

Shares of 908 Devices stock opened at $2.38 on Wednesday. The firm has a market capitalization of $82.49 million, a PE ratio of -1.32 and a beta of 0.98. 908 Devices has a twelve month low of $2.19 and a twelve month high of $12.51. The firm’s 50-day moving average price is $3.47 and its 200 day moving average price is $4.70.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of MASS. State Board of Administration of Florida Retirement System purchased a new position in 908 Devices in the 1st quarter worth approximately $80,000. Vanguard Group Inc. lifted its stake in 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 purchasing an additional 6,772 shares in the last quarter. AWM Investment Company Inc. lifted its stake in 908 Devices by 2.3% in the 1st quarter. AWM Investment Company Inc. now owns 668,526 shares of the company’s stock worth $5,047,000 after purchasing an additional 15,058 shares in the last quarter. GAMMA Investing LLC purchased a new position in 908 Devices in the 2nd quarter worth approximately $48,000. Finally, Bank of New York Mellon Corp lifted its stake in 908 Devices by 6.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 69,550 shares of the company’s stock worth $358,000 after purchasing an additional 4,212 shares in the last quarter. 88.06% of the stock is owned by hedge funds and other institutional investors.

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.