890,542 Shares in Intelligent Bio Solutions Inc. $INBS Acquired by Summit Creek Advisors LLC

Summit Creek Advisors LLC acquired a new stake in Intelligent Bio Solutions Inc. (NASDAQ:INBS) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 890,542 shares of the company’s stock, valued at approximately $4,595,000. Summit Creek Advisors LLC owned approximately 37.26% of Intelligent Bio Solutions at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of INBS. Global Retirement Partners LLC purchased a new stake in Intelligent Bio Solutions during the second quarter worth $34,000. Meeder Advisory Services Inc. acquired a new position in Intelligent Bio Solutions during the second quarter worth about $64,000. Perigon Wealth Management LLC acquired a new position in Intelligent Bio Solutions during the second quarter worth about $65,000. Citizens Financial Group Inc. RI purchased a new stake in shares of Intelligent Bio Solutions in the second quarter valued at about $70,000. Finally, GSA Capital Partners LLP acquired a new stake in shares of Intelligent Bio Solutions in the second quarter valued at approximately $184,000. 32.97% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on INBS shares. Wall Street Zen cut shares of Intelligent Bio Solutions from a “hold” rating to a “sell” rating in a research note on Saturday, May 2nd. Zacks Research raised Intelligent Bio Solutions to a “hold” rating in a research note on Monday, June 29th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Intelligent Bio Solutions in a report on Friday, July 17th. One analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Intelligent Bio Solutions has a consensus rating of “Reduce”.

Intelligent Bio Solutions Price Performance

Intelligent Bio Solutions stock opened at $3.22 on Wednesday. Intelligent Bio Solutions Inc. has a 12-month low of $1.52 and a 12-month high of $24.90. The stock has a market capitalization of $7.70 million, a P/E ratio of -0.26 and a beta of 4.21. The firm’s 50-day moving average is $2.18 and its two-hundred day moving average is $3.14.

Intelligent Bio Solutions Company Profile

Intelligent Bio Solutions, Inc, through its wholly owned subsidiary, is focused on the design, development and marketing of rapid, real-time detection and identification systems for foodborne and environmental pathogens. The company’s flagship product, the RAPID-B System, integrates patented biosensor and fluorescence technologies to detect viable microorganisms in a fraction of the time required by traditional culture-based testing methods. This approach enables food processors, beverage producers, environmental testing laboratories and homeland security agencies to identify contaminants such as Escherichia coli O157:H7, Salmonella spp.