908 Devices Inc. $MASS Shares Acquired by Granahan Investment Management LLC

Granahan Investment Management LLC lifted its holdings in 908 Devices Inc. (NASDAQ:MASS) by 662.6% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 695,070 shares of the company’s stock after purchasing an additional 603,929 shares during the quarter. Granahan Investment Management LLC owned about 1.84% of 908 Devices worth $4,254,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. First Light Asset Management LLC increased its position in 908 Devices by 92.6% during the 4th quarter. First Light Asset Management LLC now owns 4,836,186 shares of the company’s stock valued at $25,390,000 after buying an additional 2,325,690 shares in the last quarter. Needham Investment Management LLC boosted its holdings in 908 Devices by 246.8% in the fourth quarter. Needham Investment Management LLC now owns 770,000 shares of the company’s stock worth $4,042,000 after acquiring an additional 548,000 shares in the last quarter. Marshall Wace LLP grew its stake in shares of 908 Devices by 359.4% during the second quarter. Marshall Wace LLP now owns 648,796 shares of the company’s stock worth $4,626,000 after acquiring an additional 507,562 shares during the last quarter. Bank of America Corp DE grew its stake in shares of 908 Devices by 221.7% during the second quarter. Bank of America Corp DE now owns 363,217 shares of the company’s stock worth $2,590,000 after acquiring an additional 250,311 shares during the last quarter. Finally, Meros Investment Management LP increased its holdings in shares of 908 Devices by 232.7% during the fourth quarter. Meros Investment Management LP now owns 347,035 shares of the company’s stock valued at $1,822,000 after acquiring an additional 242,712 shares in the last quarter. 88.06% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at 908 Devices

In related news, Director Christopher D. Brown sold 9,900 shares of 908 Devices stock in a transaction that occurred on Tuesday, June 23rd. The stock was sold at an average price of $9.04, for a total transaction of $89,496.00. Following the completion of the transaction, the director directly owned 865,559 shares in the company, valued at approximately $7,824,653.36. This trade represents a 1.13% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP John Kenneweg sold 7,787 shares of 908 Devices stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $6.83, for a total transaction of $53,185.21. Following the transaction, the senior vice president directly owned 76,039 shares of the company’s stock, valued at approximately $519,346.37. This trade represents a 9.29% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 96,927 shares of company stock worth $815,293 over the last quarter. Insiders own 28.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on MASS. Weiss Ratings lowered shares of 908 Devices from a “hold (c-)” rating to a “sell (d-)” rating in a research report on Monday, May 11th. Wall Street Zen lowered shares of 908 Devices from a “buy” rating to a “hold” rating in a research note on Saturday, July 18th. One investment analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $12.00.

908 Devices Stock Performance

908 Devices stock opened at $7.14 on Friday. The business’s 50-day simple moving average is $8.12 and its two-hundred day simple moving average is $7.11. The company has a market cap of $269.96 million, a PE ratio of -7.14 and a beta of 0.63. 908 Devices Inc. has a fifty-two week low of $5.03 and a fifty-two week high of $9.34.

908 Devices Company Profile

908 Devices Inc (NASDAQ: MASS) is a developer and manufacturer of portable analytical instruments designed to deliver rapid chemical detection in field and laboratory environments. The company’s core focus lies in miniaturizing high-performance mass spectrometry and ion mobility spectrometry technologies, enabling users to perform on-site analysis that traditionally required benchtop equipment.

Key products in 908 Devices’ portfolio include the MX908, a handheld high-resolution mass spectrometer capable of detecting and identifying a broad range of chemicals and explosives; the M908 portable mass spectrometer for laboratory or mobile units; and the ZipChip capillary electrophoresis system for high-throughput, microfluidic separations.