XTX Topco Ltd Trims Holdings in 908 Devices Inc. (NASDAQ:MASS)

XTX Topco Ltd lessened its holdings in shares of 908 Devices Inc. (NASDAQ:MASS) by 26.8% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 38,208 shares of the company’s stock after selling 13,988 shares during the period. XTX Topco Ltd owned about 0.11% of 908 Devices worth $171,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of MASS. Essex Investment Management Co. LLC purchased a new position in 908 Devices during the 1st quarter valued at about $2,153,000. Legato Capital Management LLC purchased a new position in shares of 908 Devices during the 1st quarter worth approximately $638,000. ARK Investment Management LLC grew its holdings in shares of 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. Needham Investment Management LLC grew its holdings in shares of 908 Devices by 100.0% during the 4th quarter. Needham Investment Management LLC now owns 200,000 shares of the company’s stock worth $440,000 after acquiring an additional 100,000 shares during the period. Finally, AWM Investment Company Inc. grew its holdings in shares of 908 Devices by 6.3% during the 4th quarter. AWM Investment Company Inc. now owns 1,673,924 shares of the company’s stock worth $3,683,000 after acquiring an additional 99,594 shares during the period. Hedge funds and other institutional investors own 88.06% of the company’s stock.

908 Devices Stock Up 9.0%

908 Devices stock opened at $7.05 on Thursday. The company has a market capitalization of $252.82 million, a P/E ratio of -13.06 and a beta of 0.37. The stock’s 50 day moving average is $6.89 and its 200 day moving average is $5.03. 908 Devices Inc. has a twelve month low of $1.81 and a twelve month high of $8.06.

908 Devices (NASDAQ:MASS) last posted its quarterly earnings results on Tuesday, August 5th. The company reported ($0.18) earnings per share for the quarter, missing the consensus estimate of ($0.16) by ($0.02). The company had revenue of $4.70 million during 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%. As a group, equities analysts expect that 908 Devices Inc. will post -1.99 EPS for the current year.

Insider Activity at 908 Devices

In other 908 Devices news, insider Michael S. Turner sold 7,148 shares of the stock in a transaction on Tuesday, June 17th. The stock was sold at an average price of $7.51, for a total transaction of $53,681.48. Following the sale, the insider directly owned 1,373 shares in the company, valued at approximately $10,311.23. This trade represents a 83.89% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Joseph H. Iv Griffith sold 6,940 shares of the stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $7.08, for a total value of $49,135.20. Following the sale, the chief financial officer owned 102,930 shares in the company, valued at approximately $728,744.40. This represents a 6.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 31,543 shares of company stock worth $233,890 in the last 90 days. 23.70% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on MASS shares. Wall Street Zen downgraded 908 Devices from a “hold” rating to a “sell” rating in a report on Saturday, August 9th. Leerink Partners upgraded 908 Devices from a “market perform” rating to an “outperform” rating and set a $12.00 target price on the stock in a report on Tuesday, August 5th. Leerink Partnrs upgraded 908 Devices from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 5th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of 908 Devices in a report on Tuesday, July 29th. One analyst has rated the stock with a sell rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $8.00.

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.