Granahan Investment Management LLC raises position in 908 Devices Inc. (NASDAQ:MASS)

Granahan Investment Management LLC increased its holdings in 908 Devices Inc. in the fourth quarter, according to a recent filing with the Securities and Exchange Commission. (NASDAQ:MASS – Free Report) by 10.6%. The fund owned 2,038,658 shares of the company’s stock after purchasing an additional 195,368 shares during the quarter. At the end of the last quarter, Granahan Investment Management LLC held approximately 6.30% of 908 Devices valued at $22,874,000.

A number of other institutional investors have also made changes to their positions at MASS. Iron Triangle Partners LP increased its position in shares of 908 Devices by 31.1% during the 4th quarter. Iron Triangle Partners LP now owns 1,284,947 shares of the company’s stock worth $14,417,000 after purchasing an additional 304,484 shares during the period. ARK Investment Management LLC increased its holdings in shares of 908 Devices by 8.3% during the fourth quarter. ARK Investment Management LLC now owns 4,346,579 shares of the company’s stock valued at $48,769,000 after acquiring an additional 333,119 shares in the last quarter. SG Americas Securities LLC acquired a new position in shares of 908 Devices during the fourth quarter worth approximately $133,000. The New York State Retirement Fund increased its holdings in 908 Devices by 5.0% during the fourth quarter. The New York State Retirement Fund now owns 74,033 shares of the company’s stock valued at $831,000 after acquiring an additional 3,508 shares in the last quarter. Finally, in the third quarter, AWM Investment Company Inc. acquired a new position in the 908 Devices group worth $3,740,000. Institutional investors hold 88.06% of the shares.

Insider Buying and Selling at 908 Devices

In related news, CEO Kevin J. Knopp acquired 10,000 shares of the company’s stock in a transaction on Monday, May 13th. The shares were purchased at an average cost of $6.42 per share, for a total transaction amount of $64,200.00. Following the completion of the transaction, the CEO now directly owns 508,981 shares of the company’s stock, valued at $3,267,658.02. The transaction was disclosed in a document filed with the Securities and Exchange Commission, which is available on the SEC’s website. Over the last three months, insiders bought 30,000 shares of the company’s stock worth $178,500. Currently, insiders own 27.80% of the shares.

Changes in analyst ratings

Separately, Stephens reissued an “overweight” rating and set a $14.00 price target on shares of 908 Devices in a report on Monday, May 13th.

Read our latest report on MASS

Price performance of 908 devices

MASS shares fell $0.19 on Thursday, hitting $5.94. 262,013 shares of the company’s stock were traded with average volume of 199,442. 908 Devices Inc. it has a 12 month low of $4.85 and a 12 month high of $12.51. The market value of the company’s shares is $204.87 million, the P/E ratio is -5.55 and the beta coefficient is 1.06. The company has a 50-day moving average of $6.14 and a 200-day moving average of $7.13.

908 Devices (NASDAQ:MASS – Get Free Report) last released its earnings results on Tuesday, April 30th. The company observed ($0.33) EPS for the quarter, topping the consensus estimate of ($0.36) by $0.03. The company had revenue of $9.99 million for the quarter, compared to the consensus estimate of $9.29 million. 908 Devices had a negative return on equity of 20.87% and a negative net margin of 68.57%. The company’s quarterly revenue increased 5.3% year-over-year. During the same period last year, the company posted earnings per share ($0.39). Sell-side analysts predict that 908 Devices Inc. will report -1.12 EPS for the current financial year.

Company profile 908 devices

(free report)

908 Devices Inc, a commercial technology company, offers a variety of purpose-built handheld and benchtop mass spectrometry devices for the examination of unknown and invisible materials in life sciences research, bioprocessing, pharmaceutical/biopharmaceuticals, forensics and related markets. The company’s products include the MX908, a handheld, battery-powered Mass Spec instrument designed for the rapid analysis of solid, liquid, vapor and aerosol materials of unknown identity; Rebel, a small desktop analyzer that provides real-time information about 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, and provides process fingerprinting data to support large-scale efforts in prediction modeling of bioprocesses.

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