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

Modular Medical, Inc. (NASDAQ:MODD) CEO Manchester Management Co Llc bought 156,250 shares of the stock in a transaction dated Thursday, March 20th. The stock was acquired at an average price of $1.92 per share, with a total value 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 $810,240. This represents a 58.80 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Modular Medical Stock Up 3.6 %

Shares of NASDAQ:MODD opened at $1.14 on Wednesday. The firm has a market cap of $46.36 million, a P/E ratio of -2.15 and a beta of 0.59. Modular Medical, Inc. has a 12 month low of $0.68 and a 12 month high of $2.65. The company’s 50-day moving average price is $1.08 and its two-hundred day moving average price is $1.62.

Modular Medical (NASDAQ:MODD) last released 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 Investors Weigh In On Modular Medical

Hedge funds and other institutional investors have recently made changes to their positions in the company. Geode Capital Management LLC lifted its stake in shares of Modular Medical by 45.0% during the third quarter. Geode Capital Management LLC now owns 306,440 shares of the company’s stock valued at $690,000 after acquiring an additional 95,072 shares during the period. State Street Corp raised its holdings in Modular Medical by 285.8% during the 3rd quarter. State Street Corp now owns 76,000 shares of the company’s stock worth $171,000 after purchasing an additional 56,300 shares during the last quarter. Walleye Capital LLC lifted its position in Modular Medical by 299.8% during 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 period. Virtu Financial LLC bought a new position in shares of Modular Medical in the 3rd quarter valued at about $44,000. Finally, Bard Associates Inc. grew its position in shares of Modular Medical by 47.1% during the 4th quarter. Bard Associates Inc. now owns 2,152,464 shares of the company’s stock worth $2,949,000 after buying an additional 689,534 shares during the period. 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.