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

Edmond DE Rothschild Holding S.A. purchased a new stake in shares of Intelligent Bio Solutions Inc. (NASDAQ:INBS) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 22,927,668 shares of the company’s stock, valued at approximately $118,307,000. Intelligent Bio Solutions accounts for approximately 1.6% of Edmond DE Rothschild Holding S.A.’s holdings, making the stock its 14th biggest holding. Edmond DE Rothschild Holding S.A. owned about 9.59% of Intelligent Bio Solutions at the end of the most recent reporting period.

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

Intelligent Bio Solutions Stock Down 17.1%

INBS opened at $2.67 on Thursday. Intelligent Bio Solutions Inc. has a 52 week low of $1.52 and a 52 week high of $24.90. The business has a fifty day simple moving average of $2.19 and a 200-day simple moving average of $3.10. The firm has a market cap of $6.38 million, a P/E ratio of -0.22 and a beta of 4.21.

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

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Wall Street Zen lowered shares of Intelligent Bio Solutions from a “hold” rating to a “sell” rating in a report on Saturday, May 2nd. Weiss Ratings reiterated a “sell (e+)” rating on shares of Intelligent Bio Solutions in a research report on Friday, July 17th. Finally, Zacks Research upgraded shares of Intelligent Bio Solutions to a “hold” rating in a research report on Monday, June 29th. One investment analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Reduce”.

About Intelligent Bio Solutions

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.