GM Advisory Group LLC Takes $8.31 Million Position in 908 Devices Inc. $MASS

GM Advisory Group LLC purchased a new position in shares of 908 Devices Inc. (NASDAQ:MASS) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 1,165,291 shares of the company’s stock, valued at approximately $8,309,000. GM Advisory Group LLC owned approximately 3.25% of 908 Devices as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. AWM Investment Company Inc. lifted its holdings in shares of 908 Devices by 210.6% in the 1st quarter. AWM Investment Company Inc. now owns 5,199,924 shares of the company’s stock valued at $23,296,000 after buying an additional 3,526,000 shares during the period. First Light Asset Management LLC acquired a new position in 908 Devices during the first quarter worth about $7,621,000. Geode Capital Management LLC boosted its stake in shares of 908 Devices by 11.7% during the 2nd quarter. Geode Capital Management LLC now owns 658,603 shares of the company’s stock worth $4,697,000 after acquiring an additional 68,764 shares in the last quarter. Invesco Ltd. acquired a new position in 908 Devices during the first quarter worth $2,910,000. Finally, First Eagle Investment Management LLC purchased a new position in shares of 908 Devices in the second quarter valued at $1,906,000. Institutional investors and hedge funds own 88.06% of the company’s stock.

Insiders Place Their Bets

In other 908 Devices news, CFO Joseph H. Iv Griffith sold 4,292 shares of the business’s stock in a transaction dated Friday, October 3rd. The shares were sold at an average price of $9.05, for a total transaction of $38,842.60. Following the completion of the transaction, the chief financial officer directly owned 92,930 shares of the company’s stock, valued at $841,016.50. The trade was a 4.41% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In the last 90 days, insiders have sold 10,000 shares of company stock valued at $80,593. Company insiders own 23.70% of the company’s stock.

Analysts Set New Price Targets

MASS has been the topic of a number of analyst reports. Leerink Partnrs raised 908 Devices from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 5th. 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 report on Tuesday, August 5th. Weiss Ratings reissued a “sell (d-)” rating on shares of 908 Devices in a research note on Wednesday, October 8th. Finally, Wall Street Zen raised 908 Devices from a “sell” rating to a “hold” rating in a research report on Monday, September 15th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, 908 Devices has a consensus rating of “Moderate Buy” and an average target price of $9.00.

908 Devices Stock Down 0.8%

Shares of NASDAQ MASS opened at $6.41 on Thursday. The stock’s 50 day moving average price is $7.61 and its two-hundred day moving average price is $6.79. 908 Devices Inc. has a 52-week low of $1.81 and a 52-week high of $9.34. The stock has a market capitalization of $231.98 million, a P/E ratio of -58.27 and a beta of 0.45.

908 Devices (NASDAQ:MASS) last posted its quarterly earnings results on Monday, November 10th. The company reported ($0.15) EPS for the quarter, missing the consensus estimate of ($0.12) by ($0.03). The business had revenue of $14.01 million during the quarter, compared to analyst estimates of $13.58 million. 908 Devices had a negative net margin of 7.17% and a negative return on equity of 22.31%. 908 Devices has set its FY 2025 guidance at EPS. On average, analysts anticipate that 908 Devices Inc. will post -1.99 EPS for the current year.

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.