908 Devices (NASDAQ:MASS) Given New $6.00 Price Target at Stifel Nicolaus

908 Devices (NASDAQ:MASS) had its price target lowered by Stifel Nicolaus from $17.00 to $6.00 in a report published on Wednesday,Benzinga reports. The firm currently has a buy rating on the stock.

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

908 Devices Stock Performance

Shares of 908 Devices stock traded down $0.13 on Wednesday, hitting $2.21. The stock had a trading volume of 80,826 shares, compared to its average volume of 198,930. The stock has a 50 day moving average of $3.47 and a 200 day moving average of $4.70. The firm has a market capitalization of $76.60 million, a P/E ratio of -1.32 and a beta of 0.98. 908 Devices has a twelve month low of $2.20 and a twelve month high of $12.51.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. State Board of Administration of Florida Retirement System purchased a new position in 908 Devices during the 1st quarter valued at about $80,000. Vanguard Group Inc. increased its holdings in shares of 908 Devices by 0.4% in the first quarter. Vanguard Group Inc. now owns 1,751,102 shares of the company’s stock worth $13,221,000 after purchasing an additional 6,772 shares during the period. AWM Investment Company Inc. grew its position in 908 Devices by 2.3% during the first quarter. AWM Investment Company Inc. now owns 668,526 shares of the company’s stock worth $5,047,000 after buying an additional 15,058 shares in the last quarter. GAMMA Investing LLC purchased a new position in 908 Devices during the second quarter worth about $48,000. Finally, Bank of New York Mellon Corp increased its stake in 908 Devices by 6.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 69,550 shares of the company’s stock worth $358,000 after acquiring an additional 4,212 shares during the last quarter. Hedge funds and other institutional investors own 88.06% of the company’s stock.

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.