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

Sio Capital Management LLC cut its stake in shares of Modular Medical, Inc. (NASDAQ:MODD) by 92.2% during the 3rd quarter, Holdings Channel.com reports. The firm owned 120,772 shares of the company’s stock after selling 1,418,580 shares during the quarter. Sio Capital Management LLC’s holdings in Modular Medical were worth $272,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently made changes to their positions in MODD. Walleye Capital LLC boosted its position in shares of Modular Medical by 299.8% in the third quarter. Walleye Capital LLC now owns 75,418 shares of the company’s stock worth $170,000 after purchasing an additional 56,552 shares during the period. Corsair Capital Management L.P. boosted its stake in Modular Medical by 13.6% in the 3rd quarter. Corsair Capital Management L.P. now owns 537,363 shares of the company’s stock worth $1,209,000 after purchasing an additional 64,393 shares during the period. Bard Associates Inc. raised its position in shares of Modular Medical by 81.4% during the third quarter. Bard Associates Inc. now owns 1,462,930 shares of the company’s stock valued at $3,292,000 after buying an additional 656,330 shares during the last quarter. Finally, Renaissance Technologies LLC bought a new position in shares of Modular Medical during the second quarter worth $40,000. Institutional investors own 27.47% of the company’s stock.

Modular Medical Trading Up 0.6 %

Shares of Modular Medical stock opened at $1.64 on Friday. The stock has a 50 day moving average of $2.15 and a 200 day moving average of $1.85. Modular Medical, Inc. has a 12 month low of $1.08 and a 12 month high of $2.65. The firm has a market cap of $56.89 million, a PE ratio of -2.60 and a beta of 0.59.

Insider Transactions at Modular Medical

In related news, CEO Manchester Management Co Llc bought 166,666 shares of the company’s stock in a transaction dated Thursday, November 21st. The stock was purchased at an average price of $1.50 per share, for a total transaction of $249,999.00. Following the acquisition, the chief executive officer now 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 document filed with the SEC, which is available at this hyperlink. Insiders own 32.34% of the company’s stock.

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.