Manchester Management Co Llc Acquires 156,250 Shares of Modular Medical, Inc. (NASDAQ:MODD) Stock

Modular Medical, Inc. (NASDAQ:MODD) CEO Manchester Management Co Llc acquired 156,250 shares of the firm’s stock in a transaction on Thursday, March 20th. The stock was purchased at an average price of $1.92 per share, with a total value of $300,000.00. Following the acquisition, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Modular Medical Price Performance

NASDAQ:MODD opened at $1.10 on Tuesday. Modular Medical, Inc. has a 1-year low of $0.68 and a 1-year high of $2.65. The company has a market capitalization of $44.73 million, a PE ratio of -2.08 and a beta of 0.59. The firm’s 50-day moving average price is $1.08 and its 200-day moving average price is $1.63.

Modular Medical (NASDAQ:MODD) last announced its earnings results on Thursday, February 13th. The company reported ($0.13) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.01).

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Corsair Capital Management L.P. increased its holdings in shares of Modular Medical by 13.6% during the third quarter. Corsair Capital Management L.P. now owns 537,363 shares of the company’s stock valued at $1,209,000 after acquiring an additional 64,393 shares in the last quarter. Walleye Capital LLC increased its stake 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 in the last quarter. State Street Corp raised its holdings in Modular Medical by 285.8% in the third quarter. State Street Corp now owns 76,000 shares of the company’s stock worth $171,000 after buying an additional 56,300 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Modular Medical by 45.0% in the third 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 in the last quarter. Finally, Virtu Financial LLC purchased a new stake in shares of Modular Medical during the third quarter valued at approximately $44,000. Hedge funds and other institutional investors own 27.47% of the company’s stock.

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.