908 Devices (NASDAQ:MASS) Lowered to Hold Rating by Leerink Partnrs

Leerink Partnrs cut shares of 908 Devices (NASDAQ:MASS) from a strong-buy rating to a hold rating in a research report sent to investors on Wednesday morning,Zacks.com reports. Leerink Partnrs also issued estimates for 908 Devices’ Q4 2024 earnings at ($0.31) EPS, FY2024 earnings at ($1.86) EPS, Q1 2025 earnings at ($0.36) EPS, Q2 2025 earnings at ($0.33) EPS, Q3 2025 earnings at ($0.29) EPS, Q4 2025 earnings at ($0.24) EPS, FY2025 earnings at ($1.23) EPS and FY2026 earnings at ($1.13) EPS.

Several other equities analysts have also recently commented on MASS. Leerink Partners reiterated a “market perform” rating and set a $4.00 target price (down from $12.00) on shares of 908 Devices in a research note on Wednesday. Stifel Nicolaus cut their target price on shares of 908 Devices from $17.00 to $6.00 and set a “buy” rating for the company in a research note on Wednesday.

908 Devices Price Performance

NASDAQ:MASS opened at $2.39 on Wednesday. The stock has a market cap of $83.23 million, a P/E ratio of -1.35 and a beta of 0.98. 908 Devices has a one year low of $2.19 and a one year high of $12.51. The company has a fifty day moving average price of $3.42 and a 200 day moving average price of $4.65.

Institutional Investors Weigh In On 908 Devices

Several institutional investors and hedge funds have recently bought and sold shares of the business. Bank of New York Mellon Corp increased its holdings 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 valued at $358,000 after buying an additional 4,212 shares during the period. 49 Wealth Management LLC increased its holdings in 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 buying an additional 4,343 shares during the period. American Century Companies Inc. increased its holdings in 908 Devices by 18.6% in the 2nd quarter. American Century Companies Inc. now owns 33,718 shares of the company’s stock valued at $174,000 after buying an additional 5,295 shares during the period. State Street Corp increased its holdings in 908 Devices by 1.2% in the 3rd quarter. State Street Corp now owns 479,044 shares of the company’s stock valued at $1,662,000 after buying an additional 5,704 shares during the period. Finally, Geode Capital Management LLC grew its holdings in shares of 908 Devices by 1.2% in the 3rd quarter. Geode Capital Management LLC now owns 567,788 shares of the company’s stock worth $1,970,000 after purchasing an additional 6,634 shares during the last quarter. 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.