908 Devices Inc. (NASDAQ:MASS) Stock Position Decreased by ARK Investment Management LLC

ARK Investment Management LLC trimmed its stake in 908 Devices Inc. (NASDAQ:MASS) by 13.4% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,788,566 shares of the company’s stock after selling 430,983 shares during the period. ARK Investment Management LLC owned 8.01% of 908 Devices worth $6,135,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Geode Capital Management LLC grew its holdings in shares of 908 Devices by 1.2% during 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 in the last quarter. State Street Corp boosted its stake 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 in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in 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 buying an additional 28,015 shares in the last quarter. Needham Investment Management LLC raised its position in 908 Devices by 100.0% in the 3rd quarter. Needham Investment Management LLC now owns 100,000 shares of the company’s stock valued at $347,000 after purchasing an additional 50,000 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new position in 908 Devices in the 3rd quarter valued at $190,000. 88.06% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have issued reports on MASS. Stephens reiterated an “overweight” rating and issued a $6.00 price objective on shares of 908 Devices in a research report on Wednesday, January 15th. Leerink Partners reiterated 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, November 13th. Stifel Nicolaus cut their price objective on 908 Devices from $17.00 to $6.00 and set a “buy” rating for the company in a research report on Wednesday, November 13th. Leerink Partnrs downgraded 908 Devices from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 13th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of 908 Devices in a research report on Wednesday, February 19th. Two analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $5.33.

908 Devices Stock Down 5.5 %

MASS stock opened at $2.41 on Wednesday. The company has a market cap of $83.92 million, a P/E ratio of -1.36 and a beta of 0.98. 908 Devices Inc. has a twelve month low of $1.81 and a twelve month high of $7.91. The business has a fifty day moving average of $2.41 and a 200-day moving average of $3.00.

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.