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

908 Devices (NASDAQ:MASS)‘s stock had its “market perform” rating reaffirmed by investment analysts at Leerink Partners in a report released on Wednesday,Benzinga reports. They currently have a $4.00 price objective on the stock. Leerink Partners’ price target indicates a potential upside of 36.99% from the company’s previous close.

908 Devices Stock Performance

Shares of MASS stock opened at $2.92 on Wednesday. The stock’s 50-day moving average is $3.50 and its two-hundred day moving average is $4.72. The firm has a market cap of $101.21 million, a price-to-earnings ratio of -2.54 and a beta of 0.98. 908 Devices has a 1 year low of $2.86 and a 1 year high of $12.51.

Hedge Funds Weigh In On 908 Devices

Several hedge funds have recently made changes to their positions in the company. Bank of New York Mellon Corp grew its holdings in shares of 908 Devices by 6.4% during the second 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 during the last quarter. 49 Wealth Management LLC grew its holdings in shares of 908 Devices by 16.2% during the third quarter. 49 Wealth Management LLC now owns 31,099 shares of the company’s stock worth $108,000 after purchasing an additional 4,343 shares during the last quarter. American Century Companies Inc. grew its holdings in shares of 908 Devices by 18.6% during the second quarter. American Century Companies Inc. now owns 33,718 shares of the company’s stock worth $174,000 after purchasing an additional 5,295 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of 908 Devices by 0.4% during the first quarter. Vanguard Group Inc. now owns 1,751,102 shares of the company’s stock worth $13,221,000 after buying an additional 6,772 shares during the last quarter. Finally, GAMMA Investing LLC purchased a new position in shares of 908 Devices during the second quarter worth about $48,000. Hedge funds and other institutional investors 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.