Mitsubishi UFJ Asset Management Co. Ltd. Buys Shares of 212,514 908 Devices Inc. $MASS

Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in 908 Devices Inc. (NASDAQ:MASS) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 212,514 shares of the company’s stock, valued at approximately $1,515,000.

Several other large investors also recently made changes to their positions in the company. Bank of New York Mellon Corp raised its holdings in shares of 908 Devices by 4.0% during the first quarter. Bank of New York Mellon Corp now owns 51,915 shares of the company’s stock valued at $233,000 after buying an additional 1,985 shares during the last quarter. CWM LLC increased its position in 908 Devices by 541.2% in the 1st quarter. CWM LLC now owns 6,963 shares of the company’s stock valued at $31,000 after acquiring an additional 5,877 shares during the period. Legato Capital Management LLC bought a new stake in 908 Devices during the 1st quarter valued at $638,000. Prescott Group Capital Management L.L.C. raised its stake in 908 Devices by 26.7% during the 1st quarter. Prescott Group Capital Management L.L.C. now owns 190,005 shares of the company’s stock valued at $851,000 after acquiring an additional 40,005 shares in the last quarter. Finally, ARK Investment Management LLC boosted its position in 908 Devices by 4.0% during the 1st quarter. ARK Investment Management LLC now owns 2,899,347 shares of the company’s stock worth $12,989,000 after acquiring an additional 110,781 shares during the period. Institutional investors and hedge funds own 88.06% of the company’s stock.

Analyst Ratings Changes

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

Insider Buying and Selling

In related news, CFO Joseph H. Iv Griffith sold 4,292 shares of the firm’s stock in a transaction that occurred 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 in the company, valued at approximately $841,016.50. This trade represents a 4.41% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders have sold 10,000 shares of company stock worth $80,593 over the last ninety days. 23.70% of the stock is owned by corporate insiders.

908 Devices Stock Down 1.5%

Shares of MASS stock opened at $5.81 on Friday. The stock has a 50-day simple moving average of $7.60 and a 200 day simple moving average of $6.76. The stock has a market capitalization of $210.26 million, a P/E ratio of -52.82 and a beta of 0.45. 908 Devices Inc. has a fifty-two week low of $1.81 and a fifty-two week high of $9.34.

908 Devices (NASDAQ:MASS) last issued its quarterly earnings results 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 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, sell-side analysts anticipate that 908 Devices Inc. will post -1.99 earnings per share for the current year.

908 Devices 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.