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

Modular Medical, Inc. (NASDAQ:MODD) CEO Manchester Management Co Llc purchased 156,250 shares of Modular Medical stock in a transaction that occurred on Thursday, March 20th. The stock was acquired at an average cost of $1.92 per share, with a total value of $300,000.00. Following the acquisition, the chief executive officer now directly owns 422,000 shares in the company, valued at $810,240. This trade represents a 58.80 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Modular Medical Stock Down 3.5 %

Shares of Modular Medical stock traded down $0.04 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 has a market capitalization of $44.73 million, a P/E ratio of -2.08 and a beta of 0.59. The stock has a 50-day moving average price of $1.08 and a 200-day moving average price of $1.63. Modular Medical, Inc. has a 52-week low of $0.68 and a 52-week high of $2.65.

Modular Medical (NASDAQ:MODD) last issued 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 Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Renaissance Technologies LLC acquired a new stake in Modular Medical in the 4th quarter worth about $34,000. Virtu Financial LLC acquired a new position in shares of Modular Medical during the third quarter valued at approximately $44,000. Wealthedge Investment Advisors LLC purchased a new position in shares of Modular Medical in the fourth quarter valued at approximately $52,000. Navigation Wealth Management Inc. boosted its stake in shares of Modular Medical by 233.8% in the fourth quarter. Navigation Wealth Management Inc. now owns 61,040 shares of the company’s stock worth $84,000 after acquiring an additional 42,754 shares during the last quarter. Finally, Citadel Advisors LLC acquired a new stake in shares of Modular Medical in the fourth quarter worth approximately $88,000. Institutional investors and hedge funds 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.