908 Devices (NASDAQ:MASS) Raised to "Outperform" at Leerink Partners

Key Points

• 908 Devices has been upgraded from a "market perform" to an "outperform" rating by Leerink Partners, with a price target of $12.00, suggesting a potential upside of 88.41% from its previous closing price.
• The company reported an earnings miss with a EPS of ($0.18), falling short of the consensus estimate of ($0.16) by $0.02.
• Despite a negative net margin of 28.80%, institutional investors hold 88.06% of the stock, indicating strong support from larger shareholders.

908 Devices (NASDAQ:MASS - Get Free Report) was upgraded by stock analysts at Leerink Partners from a "market perform" rating to an "outperform" rating in a report issued on Tuesday,Briefing.com Automated Import reports. The brokerage presently has a $12.00 price objective on the stock. Leerink Partners' price objective would indicate a potential upside of 88.41% from the stock's previous close.

Separately, Weiss Ratings reissued a "sell (d-)" rating on shares of 908 Devices in a report on Tuesday, July 29th. One equities research analyst has rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $8.00.

908 Devices Stock Performance

NASDAQ:MASS traded down $0.15 during mid-day trading on Tuesday, reaching $6.37. 531,098 shares of the company's stock were exchanged, compared to its average volume of 1,620,409. 908 Devices has a one year low of $1.81 and a one year high of $8.06. The firm has a market capitalization of $228.39 million, a PE ratio of -11.68 and a beta of 0.37. The business's fifty day simple moving average is $6.83 and its two-hundred day simple moving average is $4.88.

908 Devices (NASDAQ:MASS - Get Free Report) last released its earnings results on Tuesday, August 5th. The company reported ($0.18) EPS for the quarter, missing the consensus estimate of ($0.16) by ($0.02). 908 Devices had a negative net margin of 28.80% and a negative return on equity of 27.10%. As a group, equities research analysts forecast that 908 Devices will post -1.99 EPS for the current year.

Insider Transactions at 908 Devices

In related news, Director Mark Spoto purchased 10,000 shares of the business's stock in a transaction that occurred on Wednesday, May 14th. The shares were acquired at an average price of $4.29 per share, for a total transaction of $42,900.00. Following the completion of the acquisition, the director directly owned 62,971 shares in the company, valued at approximately $270,145.59. The trade was a 18.88% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Michael S. Turner sold 16,082 shares of the business's stock in a transaction on Monday, June 16th. The shares were sold at an average price of $7.51, for a total transaction of $120,775.82. Following the sale, the insider owned 8,521 shares in the company, valued at approximately $63,992.71. This trade represents a 65.37% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 31,543 shares of company stock worth $233,890. Insiders own 23.70% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Bank of New York Mellon Corp boosted its position in shares of 908 Devices by 4.0% during the 1st quarter. Bank of New York Mellon Corp now owns 51,915 shares of the company's stock valued at $233,000 after acquiring an additional 1,985 shares during the last quarter. ANTIPODES PARTNERS Ltd grew its position in shares of 908 Devices by 49.7% during the 2nd quarter. ANTIPODES PARTNERS Ltd now owns 6,558 shares of the company's stock worth $47,000 after buying an additional 2,176 shares in the last quarter. Nisa Investment Advisors LLC grew its position in shares of 908 Devices by 453.2% during the 2nd quarter. Nisa Investment Advisors LLC now owns 3,784 shares of the company's stock worth $27,000 after buying an additional 3,100 shares in the last quarter. American Century Companies Inc. grew its position in shares of 908 Devices by 10.8% during the 1st quarter. American Century Companies Inc. now owns 45,814 shares of the company's stock worth $205,000 after buying an additional 4,471 shares in the last quarter. Finally, Hsbc Holdings PLC boosted its position in 908 Devices by 32.2% during the fourth quarter. Hsbc Holdings PLC now owns 21,007 shares of the company's stock valued at $46,000 after purchasing an additional 5,112 shares in the last quarter. 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.

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