Stifel Nicolaus Has Lowered Expectations for 908 Devices (NASDAQ:MASS) Stock Price

908 Devices (NASDAQ:MASS) had its price objective lowered by Stifel Nicolaus from $17.00 to $6.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Stifel Nicolaus’ price objective points to a potential upside of 152.10% from the stock’s current price.

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

908 Devices Price Performance

NASDAQ:MASS opened at $2.38 on Wednesday. The firm has a 50 day simple moving average of $3.44 and a 200-day simple moving average of $4.68. The firm has a market cap of $82.87 million, a PE ratio of -1.34 and a beta of 0.98. 908 Devices has a 1-year low of $2.19 and a 1-year high of $12.51.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the company. Millennium Management LLC grew its holdings in shares of 908 Devices by 35.5% during the 2nd quarter. Millennium Management LLC now owns 618,310 shares of the company’s stock worth $3,184,000 after purchasing an additional 161,922 shares during the period. ClariVest Asset Management LLC acquired a new stake in 908 Devices in the 2nd quarter valued at $668,000. Dimensional Fund Advisors LP raised its position in 908 Devices by 88.3% in the second quarter. Dimensional Fund Advisors LP now owns 245,176 shares of the company’s stock valued at $1,263,000 after purchasing an additional 114,987 shares during the period. AQR Capital Management LLC acquired a new position in shares of 908 Devices during the second quarter worth about $585,000. Finally, Renaissance Technologies LLC grew its stake in shares of 908 Devices by 79.4% in the second quarter. Renaissance Technologies LLC now owns 195,500 shares of the company’s stock valued at $1,007,000 after buying an additional 86,500 shares in the last quarter. 88.06% of the stock is owned by hedge funds and other institutional investors.

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.