Insider Buying: Modular Medical, Inc. (NASDAQ:MODD) Director Purchases 100,000 Shares of Stock

Modular Medical, Inc. (NASDAQ:MODD) Director Manchester Management Co Llc acquired 100,000 shares of the company’s stock in a transaction dated Wednesday, November 27th. The stock was bought at an average cost of $1.69 per share, for a total transaction of $169,000.00. Following the completion of the transaction, the director now directly owns 244,750 shares of the company’s stock, valued at approximately $413,627.50. This trade represents a 69.08 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Manchester Management Co Llc also recently made the following trade(s):

• On Thursday, November 21st, Manchester Management Co Llc purchased 166,666 shares of Modular Medical stock. The stock was bought at an average price of $1.50 per share, for a total transaction of $249,999.00.

Modular Medical Stock Up 3.7 %

Shares of MODD stock opened at $1.70 on Monday. Modular Medical, Inc. has a 12-month low of $1.08 and a 12-month high of $2.65. The company has a market capitalization of $58.97 million, a PE ratio of -2.70 and a beta of 0.59. The firm has a 50 day moving average price of $2.14 and a two-hundred day moving average price of $1.85.

Institutional Trading of Modular Medical

Several hedge funds have recently added to or reduced their stakes in the company. Renaissance Technologies LLC acquired a new position in Modular Medical in the 2nd quarter valued at $40,000. Bard Associates Inc. boosted its position in shares of Modular Medical by 81.4% in the third quarter. Bard Associates Inc. now owns 1,462,930 shares of the company’s stock valued at $3,292,000 after acquiring an additional 656,330 shares during the period. Corsair Capital Management L.P. grew its stake in shares of 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. Walleye Capital LLC increased its position in 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 acquiring an additional 56,552 shares during the period. Finally, State Street Corp raised its stake in Modular Medical by 285.8% in the 3rd quarter. State Street Corp now owns 76,000 shares of the company’s stock worth $171,000 after purchasing an additional 56,300 shares in the last quarter. 27.47% of the stock is owned by institutional investors and hedge funds.

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.