Silverarc Capital Management LLC Trims Holdings in Modular Medical, Inc. (NASDAQ:MODD)

Silverarc Capital Management LLC cut its holdings in shares of Modular Medical, Inc. (NASDAQ:MODD) by 11.7% during the fourth quarter, Holdings Channel reports. The firm owned 1,272,015 shares of the company’s stock after selling 167,985 shares during the quarter. Silverarc Capital Management LLC’s holdings in Modular Medical were worth $1,743,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Renaissance Technologies LLC purchased a new stake in shares of Modular Medical during the fourth quarter worth approximately $34,000. Virtu Financial LLC acquired a new stake in shares of Modular Medical in the third quarter valued at about $44,000. Navigation Wealth Management Inc. increased its holdings in Modular Medical by 233.8% during the 4th quarter. Navigation Wealth Management Inc. now owns 61,040 shares of the company’s stock worth $84,000 after purchasing an additional 42,754 shares during the last quarter. State Street Corp increased its stake in Modular Medical by 285.8% during the third quarter. State Street Corp now owns 76,000 shares of the company’s stock valued at $171,000 after purchasing an additional 56,300 shares during the last quarter. Finally, Geode Capital Management LLC increased its holdings in shares of Modular Medical by 4.8% in the 4th quarter. Geode Capital Management LLC now owns 321,118 shares of the company’s stock worth $440,000 after acquiring an additional 14,678 shares during the period. 27.47% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CEO Manchester Management Co Llc bought 156,250 shares of the stock in a transaction that occurred on Thursday, March 20th. The shares were acquired at an average cost of $1.92 per share, for a total transaction of $300,000.00. Following 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 20.46% of the company’s stock.

Modular Medical Stock Performance

NASDAQ:MODD opened at $0.85 on Tuesday. The stock has a market cap of $34.61 million, a price-to-earnings ratio of -1.61 and a beta of 0.33. The business has a fifty day moving average of $0.95 and a 200-day moving average of $1.43. Modular Medical, Inc. has a 1 year low of $0.68 and a 1 year high of $2.65.

Modular Medical (NASDAQ:MODD) last released its 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).

About Modular Medical

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.