Insider Buying: Modular Medical, Inc. (NASDAQ:MODD) CEO Buys 156,250 Shares of Stock

Modular Medical, Inc. (NASDAQ:MODD) CEO Manchester Management Co Llc purchased 156,250 shares of the firm’s stock in a transaction dated Thursday, March 20th. The stock was acquired at an average cost of $1.92 per share, for a total transaction of $300,000.00. Following the completion of the purchase, the chief executive officer now owns 422,000 shares of the company’s stock, valued at approximately $810,240. This represents a 58.80 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is accessible through this link.

Modular Medical Trading Down 3.5 %

MODD stock traded down $0.04 during mid-day trading on Monday, reaching $1.10. The company’s stock had a trading volume of 95,935 shares, compared to its average volume of 200,611. The company’s 50 day moving average is $1.08 and its two-hundred day moving average is $1.63. Modular Medical, Inc. has a fifty-two week low of $0.68 and a fifty-two week high of $2.65. The stock has a market cap of $44.73 million, a PE ratio of -2.08 and a beta of 0.59.

Modular Medical (NASDAQ:MODD) last posted its quarterly earnings results on Thursday, February 13th. The company reported ($0.13) EPS for the quarter, missing the consensus estimate of ($0.12) by ($0.01).

Institutional Trading of Modular Medical

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Corsair Capital Management L.P. grew its holdings in shares of Modular Medical by 13.6% in the third quarter. Corsair Capital Management L.P. now owns 537,363 shares of the company’s stock valued at $1,209,000 after purchasing an additional 64,393 shares during the period. Walleye Capital LLC boosted its holdings in Modular Medical by 299.8% in the 3rd quarter. Walleye Capital LLC now owns 75,418 shares of the company’s stock valued at $170,000 after purchasing an additional 56,552 shares during the last quarter. State Street Corp grew its stake in shares of Modular Medical by 285.8% in the 3rd quarter. State Street Corp now owns 76,000 shares of the company’s stock valued at $171,000 after buying an additional 56,300 shares during the period. Geode Capital Management LLC increased its holdings in shares of Modular Medical by 45.0% during the 3rd quarter. Geode Capital Management LLC now owns 306,440 shares of the company’s stock worth $690,000 after buying an additional 95,072 shares during the last quarter. Finally, Virtu Financial LLC purchased a new stake in shares of Modular Medical during the 3rd quarter valued at approximately $44,000. 27.47% of the stock is owned by institutional investors and hedge funds.

Modular Medical Company Profile

Modular Medical, Inc operates as a medical device company. It focuses on the design, development, and commercialization of insulin pumps. It offers MODD1, a two-part patch pump for type-1 and type-2 diabetes. The company is headquartered in San Diego, California.