908 Devices FY2024 EPS Forecast Lowered by Leerink Partnrs

908 Devices Inc. (NASDAQ:MASS) – Investment analysts at Leerink Partnrs lowered their FY2024 earnings per share (EPS) estimates for 908 Devices in a note issued to investors on Wednesday, November 13th. Leerink Partnrs analyst P. Souda now expects that the company will post earnings of ($1.86) per share for the year, down from their previous estimate of ($1.12). Leerink Partnrs has a “Hold” rating on the stock. The consensus estimate for 908 Devices’ current full-year earnings is ($1.21) per share. Leerink Partnrs also issued estimates for 908 Devices’ Q4 2024 earnings at ($0.31) EPS, Q1 2025 earnings at ($0.36) EPS, Q2 2025 earnings at ($0.33) EPS, Q3 2025 earnings at ($0.29) EPS, Q4 2025 earnings at ($0.24) EPS, FY2025 earnings at ($1.23) EPS and FY2026 earnings at ($1.13) EPS.

Several other research analysts have also recently weighed in on MASS. Stifel Nicolaus decreased their price objective on shares of 908 Devices from $17.00 to $6.00 and set a “buy” rating for the company in a report on Wednesday. Leerink Partners reiterated a “market perform” rating and set a $4.00 price objective (down previously from $12.00) on shares of 908 Devices in a research report on Wednesday.

908 Devices Price Performance

MASS stock opened at $2.39 on Friday. 908 Devices has a 1-year low of $2.19 and a 1-year high of $12.51. The stock has a market capitalization of $83.23 million, a P/E ratio of -1.35 and a beta of 0.98. The business has a fifty day moving average price of $3.42 and a 200-day moving average price of $4.65.

Institutional Investors Weigh In On 908 Devices

A number of institutional investors have recently added to or reduced their stakes in the stock. Millennium Management LLC grew its holdings in shares of 908 Devices by 35.5% in the second quarter. Millennium Management LLC now owns 618,310 shares of the company’s stock valued at $3,184,000 after purchasing an additional 161,922 shares in the last quarter. ClariVest Asset Management LLC bought a new position in 908 Devices during the 2nd quarter valued at about $668,000. Dimensional Fund Advisors LP lifted its stake in shares of 908 Devices by 88.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 245,176 shares of the company’s stock worth $1,263,000 after acquiring an additional 114,987 shares during the last quarter. AQR Capital Management LLC purchased a new stake in shares of 908 Devices during the second quarter valued at $585,000. Finally, Renaissance Technologies LLC grew its stake in 908 Devices by 79.4% in the 2nd quarter. Renaissance Technologies LLC now owns 195,500 shares of the company’s stock worth $1,007,000 after acquiring an additional 86,500 shares in the last quarter. 88.06% of the stock is owned by hedge funds and other institutional investors.

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.