First Light Asset Management LLC Boosts Stock Holdings in 908 Devices Inc. $MASS

First Light Asset Management LLC lifted its stake in 908 Devices Inc. (NASDAQ:MASS) by 25.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,072,563 shares of the company’s stock after purchasing an additional 1,236,377 shares during the period. 908 Devices comprises about 3.3% of First Light Asset Management LLC’s investment portfolio, making the stock its 10th largest position. First Light Asset Management LLC owned 0.16% of 908 Devices worth $37,164,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Granahan Investment Management LLC boosted its position in 908 Devices by 662.6% in the 1st quarter. Granahan Investment Management LLC now owns 695,070 shares of the company’s stock valued at $4,254,000 after buying an additional 603,929 shares during the period. Needham Investment Management LLC increased its position in shares of 908 Devices by 246.8% during 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 during the period. Marshall Wace LLP increased its position 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 period. Bank of America Corp DE raised 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 valued at $2,590,000 after acquiring an additional 250,311 shares in the last quarter. Finally, Meros Investment Management LP raised its stake 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. Hedge funds and other institutional investors own 88.06% of the company’s stock.

Analyst Ratings Changes

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

908 Devices Stock Performance

NASDAQ MASS opened at $7.14 on Monday. 908 Devices Inc. has a one year low of $5.03 and a one year high of $9.34. The company has a market capitalization of $269.96 million, a price-to-earnings ratio of -7.14 and a beta of 0.63. The company’s 50-day simple moving average is $8.12 and its two-hundred day simple moving average is $7.12.

Insider Activity

In other news, SVP John Kenneweg sold 7,787 shares of the 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 in the company, valued at approximately $519,346.37. This trade represents a 9.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Joseph H. Iv Griffith sold 6,940 shares of 908 Devices stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $9.03, for a total transaction of $62,668.20. Following the transaction, the chief financial officer directly owned 132,956 shares in the company, valued at approximately $1,200,592.68. The trade was a 4.96% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 96,927 shares of company stock worth $815,293. Corporate insiders own 28.20% of the company’s stock.

About 908 Devices

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.