Granahan Investment Management LLC Grows Stock Holdings in 908 Devices Inc. $MASS

Granahan Investment Management LLC boosted its stake in shares of 908 Devices Inc. (NASDAQ:MASS) by 662.6% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 695,070 shares of the company’s stock after buying an additional 603,929 shares during the period. Granahan Investment Management LLC’s holdings in 908 Devices were worth $4,254,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. Prescott Group Capital Management L.L.C. boosted its holdings in 908 Devices by 90.3% in the 4th quarter. Prescott Group Capital Management L.L.C. now owns 361,595 shares of the company’s stock valued at $1,898,000 after purchasing an additional 171,590 shares during the last quarter. Nano Cap New Millennium Growth Fund L P acquired a new stake in shares of 908 Devices during the 4th quarter worth approximately $630,000. Meros Investment Management LP increased its holdings in shares of 908 Devices by 232.7% during the 4th quarter. Meros Investment Management LP now owns 347,035 shares of the company’s stock worth $1,822,000 after buying an additional 242,712 shares during the last quarter. Needham Investment Management LLC raised its position in shares of 908 Devices by 246.8% during the 4th quarter. Needham Investment Management LLC now owns 770,000 shares of the company’s stock valued at $4,042,000 after buying an additional 548,000 shares during the period. Finally, HighMark Wealth Management LLC purchased a new stake in shares of 908 Devices during the 4th quarter valued at approximately $1,265,000. 88.06% of the stock is currently owned by hedge funds and other institutional investors.

908 Devices Price Performance

Shares of MASS stock opened at $7.14 on Friday. The firm has a market cap of $269.96 million, a PE ratio of -7.14 and a beta of 0.63. The company has a 50-day moving average of $8.12 and a two-hundred day moving average of $7.11. 908 Devices Inc. has a 1-year low of $5.03 and a 1-year high of $9.34.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. Wall Street Zen lowered 908 Devices from a “buy” rating to a “hold” rating in a research report on Saturday, July 18th. Weiss Ratings downgraded 908 Devices from a “hold (c-)” rating to a “sell (d-)” rating in a research report on Monday, May 11th. One equities research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $12.00.

Insider Transactions at 908 Devices

In other 908 Devices news, SVP John Kenneweg sold 7,787 shares of the business’s stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $6.83, for a total value of $53,185.21. Following the sale, the senior vice president owned 76,039 shares of the company’s stock, valued at $519,346.37. The trade was a 9.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Joseph H. Iv Griffith sold 6,940 shares of the company’s stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $9.03, for a total value of $62,668.20. Following the transaction, the chief financial officer owned 132,956 shares in the company, valued at $1,200,592.68. This trade represents a 4.96% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 96,927 shares of company stock worth $815,293. 28.20% of the stock is currently owned by insiders.

About 908 Devices

908 Devices Inc (NASDAQ: MASS) is a developer and manufacturer of portable analytical instruments designed to deliver rapid chemical detection in field and laboratory environments. The company’s core focus lies in miniaturizing high-performance mass spectrometry and ion mobility spectrometry technologies, enabling users to perform on-site analysis that traditionally required benchtop equipment.

Key products in 908 Devices’ portfolio include the MX908, a handheld high-resolution mass spectrometer capable of detecting and identifying a broad range of chemicals and explosives; the M908 portable mass spectrometer for laboratory or mobile units; and the ZipChip capillary electrophoresis system for high-throughput, microfluidic separations.