Sumitomo Mitsui Trust Group Inc. Sells 14,318 Shares of 908 Devices Inc. $MASS

Sumitomo Mitsui Trust Group Inc. lessened its stake in 908 Devices Inc. (NASDAQ:MASS) by 3.5% in the second quarter, HoldingsChannel reports. The firm owned 398,256 shares of the company’s stock after selling 14,318 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in 908 Devices were worth $2,840,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in MASS. AWM Investment Company Inc. increased its stake 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 worth $23,296,000 after purchasing an additional 3,526,000 shares in the last quarter. First Light Asset Management LLC bought a new stake in shares of 908 Devices in the first quarter worth about $7,621,000. Invesco Ltd. bought a new stake in shares of 908 Devices in the first quarter worth about $2,910,000. Essex Investment Management Co. LLC bought a new stake in shares of 908 Devices in the first quarter worth about $2,153,000. Finally, Legato Capital Management LLC purchased a new stake in shares of 908 Devices during the 1st quarter valued at about $638,000. Institutional investors own 88.06% of the company’s stock.

Insider Activity

In other news, CFO Joseph H. Iv Griffith sold 4,292 shares of 908 Devices stock in a transaction on 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 sale, the chief financial officer directly owned 92,930 shares of the company’s stock, valued at approximately $841,016.50. The trade was a 4.41% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last three months, insiders have sold 10,000 shares of company stock worth $80,593. 23.70% of the stock is currently owned by insiders.

908 Devices Price Performance

908 Devices stock opened at $7.63 on Friday. The firm has a 50 day simple moving average of $7.41 and a 200-day simple moving average of $6.61. 908 Devices Inc. has a 1-year low of $1.81 and a 1-year high of $9.34. The stock has a market cap of $273.61 million, a price-to-earnings ratio of -14.13 and a beta of 0.46.

908 Devices (NASDAQ:MASS) last posted its quarterly earnings data on Tuesday, August 5th. The company reported ($0.18) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.02). The company had revenue of $4.70 million for the quarter, compared to analysts’ expectations of $12.17 million. 908 Devices had a negative return on equity of 24.30% and a negative net margin of 30.54%. 908 Devices has set its FY 2025 guidance at EPS. Equities analysts expect that 908 Devices Inc. will post -1.99 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

MASS has been the topic of a number of recent analyst reports. Weiss Ratings reissued a “sell (d-)” rating on shares of 908 Devices in a research report on Wednesday, October 8th. Leerink Partnrs raised 908 Devices from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 5th. Wall Street Zen raised shares of 908 Devices from a “sell” rating to a “hold” rating in a report on Monday, September 15th. Finally, Leerink Partners upgraded 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 research report on Tuesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $8.00.

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.