Stifel Nicolaus Cuts 908 Devices (NASDAQ:MASS) Price Target to $6.00

908 Devices (NASDAQ:MASS) had its price objective cut by Stifel Nicolaus from $17.00 to $6.00 in a report issued on Wednesday morning,Benzinga reports. They currently have a buy rating on the stock.

Separately, Leerink Partners restated a “market perform” rating and issued a $4.00 price target (down from $12.00) on shares of 908 Devices in a research report on Wednesday.

908 Devices Price Performance

Shares of MASS opened at $2.39 on Wednesday. The stock has a market capitalization of $83.23 million, a PE ratio of -1.35 and a beta of 0.98. The business’s fifty day moving average price is $3.42 and its 200 day moving average price is $4.66. 908 Devices has a 12-month low of $2.19 and a 12-month high of $12.51.

Institutional Investors Weigh In On 908 Devices

A number of hedge funds have recently added to or reduced their stakes in the stock. SG Americas Securities LLC acquired a new stake in shares of 908 Devices in the 3rd quarter worth about $36,000. GAMMA Investing LLC acquired a new stake in shares of 908 Devices in the second quarter valued at approximately $48,000. Drive Wealth Management LLC bought a new stake in shares of 908 Devices during the third quarter valued at approximately $50,000. Townsquare Capital LLC bought a new stake in shares of 908 Devices during the third quarter valued at approximately $50,000. Finally, State Board of Administration of Florida Retirement System acquired a new position in shares of 908 Devices during the first quarter worth approximately $80,000. 88.06% of the stock is currently owned by institutional investors.

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.