Nuveen LLC Purchases New Position in 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 bought a new stake in 908 Devices Inc. (NASDAQ:MASS - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 106,951 shares of the company's stock, valued at approximately $479,000. Nuveen LLC owned approximately 0.30% of 908 Devices as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. CWM LLC boosted its stake in shares of 908 Devices by 541.2% in the 1st quarter. CWM LLC now owns 6,963 shares of the company's stock valued at $31,000 after purchasing an additional 5,877 shares in the last quarter. Cambridge Investment Research Advisors Inc. acquired a new stake in shares of 908 Devices in the 1st quarter valued at $45,000. Two Sigma Advisers LP acquired a new stake in shares of 908 Devices in the 4th quarter valued at $30,000. Occudo Quantitative Strategies LP acquired a new stake in shares of 908 Devices in the 4th quarter valued at $36,000. Finally, Two Sigma Investments LP acquired a new stake in shares of 908 Devices in the 4th quarter valued at $42,000. Institutional investors and hedge funds own 88.06% of the company's stock.

908 Devices Stock Performance

908 Devices stock traded down $0.06 during trading hours on Friday, reaching $5.44. 238,473 shares of the company's stock traded hands, compared to its average volume of 236,374. 908 Devices Inc. has a fifty-two week low of $1.81 and a fifty-two week high of $8.06. The firm has a market capitalization of $195.08 million, a price-to-earnings ratio of -10.07 and a beta of 0.37. The firm's 50 day moving average is $6.57 and its 200-day moving average is $5.48.

908 Devices (NASDAQ:MASS - Get Free Report) last released its 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). 908 Devices had a negative net margin of 30.54% and a negative return on equity of 24.30%. The business had revenue of $4.70 million for the quarter, compared to analyst estimates of $12.17 million. 908 Devices has set its FY 2025 guidance at EPS. Analysts predict that 908 Devices Inc. will post -1.99 EPS for the current year.

Insider Transactions at 908 Devices

In other 908 Devices news, insider Michael S. Turner sold 16,082 shares of the company's stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $7.51, for a total transaction of $120,775.82. Following the transaction, the insider directly owned 8,521 shares in the company, valued at approximately $63,992.71. This represents a 65.37% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In the last 90 days, insiders have sold 24,603 shares of company stock worth $184,755. Corporate insiders own 23.70% of the company's stock.

Wall Street Analyst Weigh In

MASS has been the topic of several recent analyst reports. Leerink Partners upgraded shares of 908 Devices from a "market perform" rating to an "outperform" rating and set a $12.00 target price on the stock in a research note on Tuesday, August 5th. Wall Street Zen downgraded shares of 908 Devices from a "hold" rating to a "sell" rating in a research note on Sunday. Weiss Ratings restated a "sell (d-)" rating on shares of 908 Devices in a research note on Saturday, August 30th. Finally, Leerink Partnrs upgraded shares of 908 Devices from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, August 5th. One research analyst has rated the stock with a Strong Buy rating and three have given a Buy rating to the company. Based on data from MarketBeat.com, 908 Devices presently has a consensus rating of "Buy" and an average target price of $8.00.

About 908 Devices

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.