First Eagle Investment Management LLC Makes New Investment in 908 Devices Inc. $MASS

First Eagle Investment Management LLC purchased a new stake in 908 Devices Inc. (NASDAQ:MASS) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 267,378 shares of the company’s stock, valued at approximately $1,906,000. First Eagle Investment Management LLC owned about 0.75% of 908 Devices as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in MASS. Old Port Advisors bought a new position in shares of 908 Devices during the second quarter worth approximately $525,000. Nuveen LLC acquired a new position in shares of 908 Devices during the 1st quarter worth $479,000. Cambridge Investment Research Advisors Inc. acquired a new position in 908 Devices during the first quarter worth about $45,000. Charles Schwab Investment Management Inc. lifted its stake in 908 Devices by 5.2% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 212,230 shares of the company’s stock valued at $951,000 after purchasing an additional 10,462 shares during the last quarter. Finally, Invesco Ltd. acquired a new stake in shares of 908 Devices during the 1st quarter valued at $2,910,000. Institutional investors own 88.06% of the company’s stock.

908 Devices Trading Down 5.4%

Shares of NASDAQ:MASS opened at $7.38 on Friday. 908 Devices Inc. has a 1-year low of $1.81 and a 1-year high of $9.34. The stock has a market cap of $264.65 million, a PE ratio of -13.67 and a beta of 0.45. The stock’s fifty day simple moving average is $7.59 and its two-hundred day simple moving average is $6.75.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on MASS shares. Leerink Partners upgraded shares of 908 Devices from a “market perform” rating to an “outperform” rating and set a $12.00 target price on the stock in a research report on Tuesday, August 5th. Weiss Ratings restated a “sell (d-)” rating on shares of 908 Devices in a research report on Wednesday, October 8th. Wall Street Zen raised 908 Devices from a “sell” rating to a “hold” rating in a research note on Monday, September 15th. Finally, Leerink Partnrs raised shares of 908 Devices from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $8.00.

Insider Transactions at 908 Devices

In other news, CFO Joseph H. Iv Griffith sold 5,000 shares of the firm’s stock in a transaction on Friday, September 19th. The stock was sold at an average price of $7.07, for a total transaction of $35,350.00. Following the completion of the sale, the chief financial officer directly owned 97,930 shares of the company’s stock, valued at $692,365.10. This trade represents a 4.86% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In the last ninety days, insiders sold 10,000 shares of company stock valued at $80,593. 23.70% of the stock is owned by corporate insiders.

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.