MASS - 908 Devices initiated at overweight at Stephens on mass spectrometry bioprocessing

• Stephens has initiated 908 Devices ( NASDAQ: MASS ) with an overweight rating saying that company's three main bioprocessing device products will benefit from growth in the cell and gene therapy market and the move toward continuous manufacturing.
• The firm has $14 price target (~40% upside based on Monday's close).
• Analyst Jacob Johnson noted that the company has already launched a new product this year, MAVEN, and is due for another one later in 2023. This is in addition to its REBEL, TRACE C3, MX908, and ZipChip devices.
• He said that REBEL, a mass spectrometer, is used for cell and gene therapy production, viral vector production, CAR-T and regenerative cell therapy manufacturing, and synthetic biology. The device speeds up development and production of biotherapeutics.
• "As the bioprocessing industry moves towards continuous manufacturing, more/better [process analytical technologies] will be required," Johnson added.
• Johnson wrote that MX908, which he called "the first truly handheld mass spectrometry device," has benefitted from extensive use in the opioid crisis, detecting counterfeit drugs, and hazardous materials operations.
• Seeking Alpha Quant Rating views 908 Devices ( MASS ) as a strong sell.

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