Nuveen LLC Buys Shares of 106,951 908 Devices Inc. $MASS

Key Points

• Nuveen LLC acquired 106,951 shares of 908 Devices Inc. ($MASS) for approximately $479,000, representing a 0.30% stake following its recent 13F filing.
• Insider Michael S. Turner sold 7,148 shares at an average price of $7.51, leading to an 83.89% decrease in their holdings.
• Shares of 908 Devices opened at $5.50 with a market cap of $197.23 million, while analysts have given the stock a Buy rating with an average price target of $8.00.

Nuveen LLC acquired a new position in shares of 908 Devices Inc. (NASDAQ:MASS - Free Report) in the 1st quarter, according to its most recent filing with the SEC. The fund acquired 106,951 shares of the company's stock, valued at approximately $479,000. Nuveen LLC owned approximately 0.30% of 908 Devices at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in MASS. Stifel Financial Corp acquired a new stake in shares of 908 Devices in the fourth quarter worth approximately $52,000. Hsbc Holdings PLC lifted its holdings in 908 Devices by 32.2% in the 4th 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. Northern Trust Corp boosted its stake in 908 Devices by 7.5% during the 4th quarter. Northern Trust Corp now owns 200,764 shares of the company's stock worth $442,000 after purchasing an additional 14,087 shares during the last quarter. Jane Street Group LLC grew its holdings in shares of 908 Devices by 118.9% during the fourth quarter. Jane Street Group LLC now owns 113,890 shares of the company's stock worth $251,000 after buying an additional 61,851 shares in the last quarter. Finally, Bank of America Corp DE grew its holdings in shares of 908 Devices by 190.9% during the fourth quarter. Bank of America Corp DE now owns 94,753 shares of the company's stock worth $208,000 after buying an additional 62,179 shares in the last quarter. Institutional investors and hedge funds own 88.06% of the company's stock.

Insider Activity

In related news, insider Michael S. Turner sold 7,148 shares of the business's stock in a transaction dated Tuesday, June 17th. The shares were sold at an average price of $7.51, for a total value of $53,681.48. Following the sale, the insider directly owned 1,373 shares in the company, valued at approximately $10,311.23. The trade was a 83.89% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Over the last three months, insiders sold 24,603 shares of company stock worth $184,755. 23.70% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research firms recently weighed in on MASS. Wall Street Zen lowered shares of 908 Devices from a "hold" rating to a "sell" rating in a research report on Sunday. Leerink Partnrs raised shares of 908 Devices from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, August 5th. Weiss Ratings restated a "sell (d-)" rating on shares of 908 Devices in a research report on Saturday, August 30th. Finally, Leerink Partners raised 908 Devices from a "market perform" rating to an "outperform" rating and set a $12.00 price target for the company in a report on Tuesday, August 5th. One research analyst has rated the stock with a Strong Buy rating and three have assigned a Buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus target price of $8.00.

908 Devices Stock Up 0.9%

NASDAQ:MASS traded up $0.05 on Wednesday, hitting $5.70. The stock had a trading volume of 409,331 shares, compared to its average volume of 249,568. The stock has a market cap of $204.40 million, a price-to-earnings ratio of -10.56 and a beta of 0.37. The company has a fifty day moving average price of $6.50 and a two-hundred day moving average price of $5.52. 908 Devices Inc. has a 1-year low of $1.81 and a 1-year high of $8.06.

908 Devices (NASDAQ:MASS - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The company reported ($0.18) earnings per share for the quarter, missing the consensus estimate of ($0.16) by ($0.02). The business had revenue of $4.70 million during the quarter, compared to analysts' expectations of $12.17 million. 908 Devices had a negative return on equity of 24.30% and a negative net margin of 30.54%. 908 Devices has set its FY 2025 guidance at EPS. As a group, analysts anticipate that 908 Devices Inc. will post -1.99 earnings per share for the current year.

908 Devices 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.