SCHEDULE 13G/A: Sio Capital Management Files Amended Schedule 13G, Disclosing Passive 0.73% Stake in Modular Medical, Inc.

Sio Capital Management, LLC has filed an Amendment No. 2 to its Schedule 13G, reporting a passive beneficial ownership of 251,990 shares, representing 0.73% of Modular Medical, Inc.'s common stock as of December 31, 2024.

Summary

• Sio Capital Management, LLC (Sio) filed an Amendment No. 2 to Schedule 13G regarding its beneficial ownership in Modular Medical, Inc.
• As of December 31, 2024, Sio beneficially owned 251,990 shares of Modular Medical, Inc. common stock.
• This ownership represents 0.73% of the company's total outstanding common stock.
• Sio holds shared voting power and shared dispositive power over all 251,990 shares.
• The percentage of ownership is calculated based on 34,571,939 shares of common stock outstanding as of November 13, 2024, as reported in Modular Medical, Inc.'s Form 10-Q filed on November 14, 2024.
• Sio is a registered investment adviser to certain affiliated funds that directly hold these shares for the benefit of their respective investors.
• The filing certifies that the shares were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing the control of the issuer.

Sentiment

Score: 5

Explanation: The document is a routine regulatory filing (Schedule 13G) disclosing passive ownership. It contains factual information without any positive or negative operational or financial news about the issuer, thus maintaining a neutral sentiment.

Positives

• The filing indicates a passive investment strategy by Sio Capital Management, LLC, suggesting no immediate intent to influence or change the control of Modular Medical, Inc., which can be viewed as governance stability.
• The investment by a registered investment adviser like Sio Capital Management, LLC, albeit small, indicates a level of institutional interest in Modular Medical, Inc.

Negatives

• The beneficial ownership stake of 0.73% is relatively small, which may not signal a strong conviction or significant institutional backing compared to larger stakes.

Risks

• The document includes a disclaimer stating that neither the filing nor its contents shall be deemed to constitute an admission by Sio GP, LLC or Michael Castor (who controls Sio and Sio GP, LLC) that they are beneficial owners of the equity securities for purposes of Section 13(d) of the Exchange Act, and such beneficial ownership is expressly disclaimed. This is a legal nuance for the reporting entity, not a direct risk to Modular Medical, Inc.'s operations.

Future Outlook

NA

Industry Context

This Schedule 13G filing is a routine disclosure of passive beneficial ownership by an investment adviser and does not provide specific insights into broader industry trends or competitive landscape for Modular Medical, Inc.

Stakeholder Impact

• Shareholders: The filing indicates a passive institutional investment, which generally suggests stability as the investor is not seeking to influence control. However, the small stake (0.73%) may have minimal impact on overall shareholder sentiment or company direction.

Key Dates

Keywords

Modular Medical Inc., Sio Capital Management, Schedule 13G, beneficial ownership, common stock, investment adviser, passive investment, SEC filing