Insider Buying: Modular Medical, Inc. (NASDAQ:MODD) CEO Buys 166,666 Shares of Stock

Modular Medical, Inc. (NASDAQ:MODD) CEO Manchester Management Co Llc acquired 166,666 shares of the business’s stock in a transaction on Thursday, November 21st. The shares were bought at an average cost of $1.50 per share, with a total value of $249,999.00. Following the completion of the acquisition, the chief executive officer now owns 3,284,743 shares in the company, valued at approximately $4,927,114.50. This represents a 5.35 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Modular Medical Stock Performance

Shares of NASDAQ:MODD opened at $1.63 on Wednesday. The firm has a market cap of $56.35 million, a price-to-earnings ratio of -2.67 and a beta of 0.59. The firm has a fifty day moving average price of $2.19 and a 200 day moving average price of $1.85. Modular Medical, Inc. has a fifty-two week low of $1.08 and a fifty-two week high of $2.65.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Bard Associates Inc. lifted 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 worth $3,292,000 after buying an additional 656,330 shares in the last quarter. Renaissance Technologies LLC purchased a new position in Modular Medical during the 2nd quarter valued at approximately $40,000. AWM Investment Company Inc. bought a new stake in Modular Medical in the 1st quarter worth approximately $1,388,000. Geode Capital Management LLC raised its holdings in shares of 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 acquiring an additional 95,072 shares in the last quarter. Finally, State Street Corp boosted its position in shares of Modular Medical by 285.8% during the 3rd quarter. State Street Corp now owns 76,000 shares of the company’s stock valued at $171,000 after acquiring an additional 56,300 shares during the last quarter. Institutional investors own 27.47% of the company’s stock.

Modular Medical Company Profile

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.