American Century Companies Inc. Boosts Stake in 908 Devices Inc. $MASS

American Century Companies Inc. boosted its stake in shares of 908 Devices Inc. (NASDAQ:MASS) by 10.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 45,814 shares of the company’s stock after buying an additional 4,471 shares during the period. American Century Companies Inc. owned 0.13% of 908 Devices worth $205,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of MASS. Two Sigma Advisers LP purchased a new stake in 908 Devices during the fourth quarter worth $30,000. CWM LLC grew its position in shares of 908 Devices by 541.2% in the 1st quarter. CWM LLC now owns 6,963 shares of the company’s stock worth $31,000 after buying an additional 5,877 shares during the last quarter. Occudo Quantitative Strategies LP purchased a new position in shares of 908 Devices in the 4th quarter worth approximately $36,000. Two Sigma Investments LP purchased a new position in shares of 908 Devices in the 4th quarter worth approximately $42,000. Finally, Cambridge Investment Research Advisors Inc. purchased a new position in shares of 908 Devices in the 1st quarter worth approximately $45,000. Hedge funds and other institutional investors own 88.06% of the company’s stock.

Analyst Ratings Changes

MASS has been the subject of several analyst reports. Leerink Partnrs upgraded 908 Devices from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 5th. Wall Street Zen lowered 908 Devices from a “hold” rating to a “sell” rating in a report on Sunday. Weiss Ratings reiterated a “sell (d-)” rating on shares of 908 Devices in a report on Saturday, August 30th. Finally, Leerink Partners upgraded 908 Devices from a “market perform” rating to an “outperform” rating and set a $12.00 price objective for the company in a report on Tuesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating and three have given a Buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $8.00.

Insider Activity at 908 Devices

In other news, insider Michael S. Turner sold 7,148 shares of the company’s stock in a transaction on Tuesday, June 17th. The shares were sold at an average price of $7.51, for a total value of $53,681.48. Following the sale, the insider directly owned 1,373 shares of the company’s stock, valued at $10,311.23. This represents a 83.89% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last quarter, insiders have sold 24,603 shares of company stock valued at $184,755. 23.70% of the stock is owned by corporate insiders.

908 Devices Price Performance

Shares of MASS stock opened at $5.44 on Monday. The firm has a market capitalization of $195.08 million, a price-to-earnings ratio of -10.07 and a beta of 0.37. The business has a fifty day moving average of $6.57 and a 200 day moving average of $5.50. 908 Devices Inc. has a 1 year low of $1.81 and a 1 year high of $8.06.

908 Devices (NASDAQ:MASS) last issued its earnings results on Tuesday, August 5th. The company reported ($0.18) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.02). The firm 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%. 908 Devices has set its FY 2025 guidance at EPS. As a group, equities research analysts expect that 908 Devices Inc. will post -1.99 earnings per share for the current year.

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.