Fred Alger Management LLC Sells 185,789 Shares of 908 Devices Inc. (NASDAQ:MASS)

Fred Alger Management LLC cut its holdings in 908 Devices Inc. (NASDAQ:MASS) by 18.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 820,448 shares of the company’s stock after selling 185,789 shares during the period. Fred Alger Management LLC’s holdings in 908 Devices were worth $2,847,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. Townsquare Capital LLC bought a new position in 908 Devices in the 3rd quarter valued at $50,000. 49 Wealth Management LLC grew its position in 908 Devices by 16.2% during the third quarter. 49 Wealth Management LLC now owns 31,099 shares of the company’s stock valued at $108,000 after buying an additional 4,343 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in 908 Devices by 14.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 220,477 shares of the company’s stock worth $765,000 after buying an additional 28,015 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new stake in 908 Devices in the third quarter worth about $190,000. Finally, Drive Wealth Management LLC purchased a new position in 908 Devices in the third quarter valued at about $50,000. 88.06% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

MASS has been the subject of several research analyst reports. Leerink Partners restated a “market perform” rating and set a $4.00 price target (down previously from $12.00) on shares of 908 Devices in a research note on Wednesday, November 13th. Leerink Partnrs downgraded 908 Devices from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 13th. Finally, Stifel Nicolaus lowered their target price on 908 Devices from $17.00 to $6.00 and set a “buy” rating on the stock in a research note on Wednesday, November 13th.

908 Devices Stock Up 4.6 %

NASDAQ:MASS opened at $2.74 on Monday. The stock has a market cap of $95.42 million, a P/E ratio of -1.55 and a beta of 0.98. The business’s 50-day moving average price is $3.22 and its two-hundred day moving average price is $4.40. 908 Devices Inc. has a twelve month low of $2.19 and a twelve month high of $12.51.

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.