Campbell & CO Investment Adviser LLC Purchases New Holdings in 908 Devices Inc. $MASS

Campbell & CO Investment Adviser LLC bought a new position in 908 Devices Inc. (NASDAQ:MASS) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 108,689 shares of the company’s stock, valued at approximately $775,000.

A number of other hedge funds also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp lifted its stake in 908 Devices by 4.0% during the 1st quarter. Bank of New York Mellon Corp now owns 51,915 shares of the company’s stock valued at $233,000 after acquiring an additional 1,985 shares during the period. CWM LLC increased its position in 908 Devices by 541.2% in the first quarter. CWM LLC now owns 6,963 shares of the company’s stock worth $31,000 after buying an additional 5,877 shares in the last quarter. Legato Capital Management LLC purchased a new position in 908 Devices during the first quarter valued at approximately $638,000. Prescott Group Capital Management L.L.C. boosted its holdings in 908 Devices by 26.7% in the 1st quarter. Prescott Group Capital Management L.L.C. now owns 190,005 shares of the company’s stock worth $851,000 after buying an additional 40,005 shares during the period. Finally, ARK Investment Management LLC grew its position in shares of 908 Devices by 4.0% during the first quarter. ARK Investment Management LLC now owns 2,899,347 shares of the company’s stock worth $12,989,000 after purchasing an additional 110,781 shares in the last quarter. 88.06% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have commented on MASS shares. Wall Street Zen raised shares of 908 Devices from a “sell” rating to a “hold” rating in a report on Monday, September 15th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of 908 Devices in a report on Wednesday, October 8th. Leerink Partners raised shares of 908 Devices from a “market perform” rating to an “outperform” rating and set a $12.00 target price for the company in a report on Tuesday, August 5th. 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, two have assigned a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, 908 Devices has a consensus rating of “Moderate Buy” and a consensus price target of $9.00.

Insider Activity

In other 908 Devices news, CFO Joseph H. Iv Griffith sold 4,292 shares of the company’s stock in a transaction on Friday, October 3rd. The stock was sold at an average price of $9.05, for a total value of $38,842.60. Following the transaction, the chief financial officer owned 92,930 shares of the company’s stock, valued at $841,016.50. This represents a 4.41% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Over the last three months, insiders sold 10,000 shares of company stock worth $80,593. 23.70% of the stock is currently owned by company insiders.

908 Devices Trading Down 1.5%

908 Devices stock opened at $5.81 on Friday. 908 Devices Inc. has a 12-month low of $1.81 and a 12-month high of $9.34. The firm has a 50-day moving average price of $7.60 and a 200-day moving average price of $6.76. The firm has a market capitalization of $210.26 million, a PE ratio of -52.82 and a beta of 0.45.

908 Devices (NASDAQ:MASS) last posted its quarterly earnings data on Monday, November 10th. The company reported ($0.15) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.03). The firm had revenue of $14.01 million during the quarter, compared to analysts’ expectations of $13.58 million. 908 Devices had a negative return on equity of 22.31% and a negative net margin of 7.17%. 908 Devices has set its FY 2025 guidance at EPS. As a group, sell-side analysts predict that 908 Devices Inc. will post -1.99 earnings per share for the current fiscal year.

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.