Sio Capital Management LLC Sells 1,418,580 Shares of Modular Medical, Inc. (NASDAQ:MODD)

Sio Capital Management LLC lowered its holdings in shares of Modular Medical, Inc. (NASDAQ:MODD) by 92.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 120,772 shares of the company’s stock after selling 1,418,580 shares during the period. Sio Capital Management LLC owned approximately 0.37% of Modular Medical worth $272,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Renaissance Technologies LLC purchased a new position in shares of Modular Medical in the 2nd quarter worth about $40,000. Walleye Capital LLC increased its stake in Modular Medical by 299.8% during the 3rd quarter. Walleye Capital LLC now owns 75,418 shares of the company’s stock valued at $170,000 after purchasing an additional 56,552 shares in the last quarter. Corsair Capital Management L.P. increased its stake in Modular Medical by 13.6% during the 3rd quarter. Corsair Capital Management L.P. now owns 537,363 shares of the company’s stock valued at $1,209,000 after purchasing an additional 64,393 shares in the last quarter. Finally, Bard Associates Inc. raised its holdings in 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 during the last quarter. Hedge funds and other institutional investors own 27.47% of the company’s stock.

Modular Medical Stock Up 0.6 %

NASDAQ:MODD opened at $1.64 on Friday. The stock has a market cap of $56.89 million, a price-to-earnings ratio of -2.60 and a beta of 0.59. The company’s 50 day moving average price is $2.15 and its 200-day moving average price is $1.85. Modular Medical, Inc. has a 52 week low of $1.08 and a 52 week high of $2.65.

Insider Activity at Modular Medical

In related news, CEO Manchester Management Co Llc purchased 166,666 shares of Modular Medical stock in a transaction dated Thursday, November 21st. The stock was purchased at an average cost of $1.50 per share, for a total transaction of $249,999.00. Following the completion of the purchase, the chief executive officer now directly owns 3,284,743 shares of the company’s stock, valued at $4,927,114.50. The trade was a 5.35 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 32.34% of the stock is currently owned by insiders.

Modular Medical 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.