Manchester Management Co Llc Purchases 166,666 Shares of Modular Medical, Inc. (NASDAQ:MODD) Stock

Modular Medical, Inc. (NASDAQ:MODD) CEO Manchester Management Co Llc bought 166,666 shares of the stock in a transaction that occurred on Thursday, November 21st. The shares were purchased at an average price of $1.50 per share, with a total value of $249,999.00. Following the completion of the acquisition, the chief executive officer now directly owns 3,284,743 shares in the company, valued at $4,927,114.50. This trade represents a 5.35 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Modular Medical Stock Performance

Shares of MODD traded down $0.08 during mid-day trading on Monday, hitting $1.60. 242,326 shares of the company’s stock were exchanged, compared to its average volume of 233,756. The company has a market cap of $55.31 million, a price-to-earnings ratio of -2.54 and a beta of 0.59. The stock’s 50-day moving average is $2.20 and its 200-day moving average is $1.86. Modular Medical, Inc. has a fifty-two week low of $1.08 and a fifty-two week high of $2.65.

Hedge Funds Weigh In On Modular Medical

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Virtu Financial LLC purchased a new stake in shares of Modular Medical during the third quarter worth $44,000. Geode Capital Management LLC grew its stake in Modular Medical by 45.0% during the 3rd quarter. Geode Capital Management LLC now owns 306,440 shares of the company’s stock worth $690,000 after purchasing an additional 95,072 shares in the last quarter. State Street Corp grew its position in shares of Modular Medical by 285.8% during 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 in the last quarter. Walleye Capital LLC increased its stake in shares of Modular Medical by 299.8% during the third quarter. Walleye Capital LLC now owns 75,418 shares of the company’s stock worth $170,000 after buying an additional 56,552 shares during the period. Finally, Corsair Capital Management L.P. raised its holdings in Modular Medical by 13.6% in 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. Hedge funds and other 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.