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

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

Modular Medical Stock Performance

NASDAQ:MODD opened at $1.14 on Wednesday. The company has a 50-day moving average of $1.08 and a 200-day moving average of $1.62. Modular Medical, Inc. has a 52 week low of $0.68 and a 52 week high of $2.65. The company has a market capitalization of $46.36 million, a price-to-earnings ratio of -2.15 and a beta of 0.59.

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

Hedge Funds Weigh In On Modular Medical

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Renaissance Technologies LLC bought a new stake in Modular Medical in the fourth quarter valued at $34,000. Virtu Financial LLC bought a new stake in shares of Modular Medical in the 3rd quarter worth about $44,000. Wealthedge Investment Advisors LLC acquired a new stake in shares of Modular Medical during the 4th quarter worth about $52,000. Navigation Wealth Management Inc. lifted 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 valued at $84,000 after purchasing an additional 42,754 shares during the last quarter. Finally, Citadel Advisors LLC acquired a new position in Modular Medical in the fourth quarter valued at about $88,000. Institutional investors own 27.47% of the company’s stock.

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.