Joseph Iv Griffith Sells 4,292 Shares of 908 Devices (NASDAQ:MASS) Stock

908 Devices Inc. (NASDAQ:MASS) CFO Joseph Iv Griffith sold 4,292 shares of 908 Devices stock in a transaction dated Friday, October 3rd. The shares were sold at an average price of $9.05, for a total value of $38,842.60. Following the transaction, the chief financial officer owned 92,930 shares of the company’s stock, valued at $841,016.50. This trade represents a 4.41% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

908 Devices Stock Performance

MASS stock opened at $8.91 on Wednesday. The company has a market capitalization of $319.51 million, a P/E ratio of -16.50 and a beta of 0.46. 908 Devices Inc. has a 52-week low of $1.81 and a 52-week high of $9.19. The business has a 50-day simple moving average of $6.76 and a two-hundred day simple moving average of $6.09.

908 Devices (NASDAQ:MASS) last released its quarterly earnings results on Tuesday, August 5th. The company reported ($0.18) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.02). The company had revenue of $4.70 million for the quarter, compared to analyst estimates of $12.17 million. 908 Devices had a negative net margin of 30.54% and a negative return on equity of 24.30%. 908 Devices has set its FY 2025 guidance at EPS. As a group, sell-side analysts forecast that 908 Devices Inc. will post -1.99 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have issued reports on MASS shares. Leerink Partners upgraded 908 Devices from a “market perform” rating to an “outperform” rating and set a $12.00 price target for the company in a research note on Tuesday, August 5th. Leerink Partnrs raised shares of 908 Devices from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 5th. Wall Street Zen raised shares of 908 Devices from a “sell” rating to a “hold” rating in a research report on Monday, September 15th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of 908 Devices in a research report on Saturday, September 27th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $8.00.

Institutional Investors Weigh In On 908 Devices

A number of hedge funds have recently modified their holdings of MASS. AWM Investment Company Inc. raised its holdings in shares of 908 Devices by 210.6% in the 1st quarter. AWM Investment Company Inc. now owns 5,199,924 shares of the company’s stock worth $23,296,000 after purchasing an additional 3,526,000 shares during the period. First Light Asset Management LLC bought a new stake in shares of 908 Devices in the 1st quarter worth approximately $7,621,000. GM Advisory Group LLC bought a new stake in shares of 908 Devices in the 2nd quarter worth approximately $8,309,000. Invesco Ltd. bought a new stake in shares of 908 Devices in the 1st quarter worth approximately $2,910,000. Finally, Marshall Wace LLP raised its holdings in shares of 908 Devices by 359.4% in the 2nd quarter. Marshall Wace LLP now owns 648,796 shares of the company’s stock worth $4,626,000 after purchasing an additional 507,562 shares during the period. 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.