ICONIQ Capital LLC Takes Position in Intelligent Bio Solutions Inc. $INBS

ICONIQ Capital LLC purchased a new stake in shares of Intelligent Bio Solutions Inc. (NASDAQ:INBS) in the second quarter, HoldingsChannel.com reports. The fund purchased 1,160,847 shares of the company’s stock, valued at approximately $5,990,000. Intelligent Bio Solutions comprises 0.2% of ICONIQ Capital LLC’s investment portfolio, making the stock its 27th largest holding. ICONIQ Capital LLC owned approximately 0.49% of Intelligent Bio Solutions at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Sanctuary Advisors LLC acquired a new position in Intelligent Bio Solutions during the second quarter worth $201,000. Bank of Nova Scotia purchased a new position in shares of Intelligent Bio Solutions in the second quarter valued at $435,000. Elevation Point Wealth Partners LLC purchased a new position in shares of Intelligent Bio Solutions in the second quarter valued at $159,000. Evolve Private Wealth LLC acquired a new position in shares of Intelligent Bio Solutions during the 2nd quarter worth $107,000. Finally, Callan Family Office LLC acquired a new position in shares of Intelligent Bio Solutions during the 2nd quarter worth $57,000. 32.97% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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 company. According to data from MarketBeat, the stock currently has an average rating of “Reduce”.

Intelligent Bio Solutions Price Performance

INBS opened at $2.51 on Monday. Intelligent Bio Solutions Inc. has a 12 month low of $1.52 and a 12 month high of $24.90. The business has a 50-day moving average of $2.19 and a two-hundred day moving average of $3.02. The stock has a market capitalization of $7.61 million, a price-to-earnings ratio of -0.28 and a beta of 4.21.

Intelligent Bio Solutions (NASDAQ:INBS) last announced its quarterly earnings data on Wednesday, August 19th. The company reported ($0.90) earnings per share for the quarter, topping the consensus estimate of ($1.58) by $0.68. Intelligent Bio Solutions had a negative net margin of 294.88% and a negative return on equity of 175.35%. The business had revenue of $1.15 million for the quarter, compared to analyst estimates of $1.22 million. Equities research analysts anticipate that Intelligent Bio Solutions Inc. will post -5.18 earnings per share for the current year.

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.