Edmond DE Rothschild Holding S.A. Takes $118.31 Million Position in Intelligent Bio Solutions Inc. $INBS

Edmond DE Rothschild Holding S.A. purchased a new position in Intelligent Bio Solutions Inc. (NASDAQ:INBS) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 22,927,668 shares of the company’s stock, valued at approximately $118,307,000. Intelligent Bio Solutions comprises approximately 1.6% of Edmond DE Rothschild Holding S.A.’s portfolio, making the stock its 14th largest position. Edmond DE Rothschild Holding S.A. owned 959.32% of Intelligent Bio Solutions as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in INBS. Global Retirement Partners LLC purchased a new position in Intelligent Bio Solutions in the 2nd quarter valued at $34,000. Meeder Advisory Services Inc. acquired a new stake in Intelligent Bio Solutions during the 2nd quarter worth $64,000. Perigon Wealth Management LLC purchased a new stake in shares of Intelligent Bio Solutions during the second quarter worth $65,000. Citizens Financial Group Inc. RI purchased a new stake in shares of Intelligent Bio Solutions during the second quarter worth $70,000. Finally, CM Wealth Advisors LLC acquired a new stake in shares of Intelligent Bio Solutions in the second quarter valued at about $101,000. 32.97% of the stock is currently owned by hedge funds and other institutional investors.

Intelligent Bio Solutions Stock Performance

NASDAQ INBS opened at $2.67 on Thursday. The stock’s fifty day moving average is $2.19 and its two-hundred day moving average is $3.10. The firm has a market capitalization of $6.38 million, a P/E ratio of -0.22 and a beta of 4.21. Intelligent Bio Solutions Inc. has a fifty-two week low of $1.52 and a fifty-two week high of $24.90.

Intelligent Bio Solutions (NASDAQ:INBS) last issued its earnings results on Wednesday, August 19th. The company reported ($0.90) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.58) by $0.68. Intelligent Bio Solutions had a negative return on equity of 176.09% and a negative net margin of 296.73%.The business had revenue of $1.15 million during the quarter, compared to the consensus estimate of $1.22 million. As a group, sell-side analysts forecast that Intelligent Bio Solutions Inc. will post -3.42 EPS for the current year.

Analyst Upgrades and Downgrades

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

Intelligent Bio Solutions 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.