Man Group plc Invests $2.65 Million in Intelligent Bio Solutions Inc. $INBS

Man Group plc bought a new stake in Intelligent Bio Solutions Inc. (NASDAQ:INBS) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 513,292 shares of the company’s stock, valued at approximately $2,649,000. Man Group plc owned about 21.48% of Intelligent Bio Solutions as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. BlackRock Inc. acquired a new stake in shares of Intelligent Bio Solutions in the second quarter valued at approximately $149,956,000. Edmond DE Rothschild Holding S.A. acquired a new stake in Intelligent Bio Solutions during the 2nd quarter valued at $118,307,000. Deutsche Bank AG bought a new position in Intelligent Bio Solutions during the second quarter worth $39,843,000. Bank of New York Mellon Corp acquired a new position in shares of Intelligent Bio Solutions in the second quarter valued at $9,655,000. Finally, Palisade Capital Management LP bought a new position in shares of Intelligent Bio Solutions in the second quarter valued at about $8,988,000. Institutional investors and hedge funds own 32.97% of the company’s stock.

Analyst Ratings Changes

INBS has been the subject of several research analyst reports. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Intelligent Bio Solutions in a report on Friday, July 17th. Zacks Research upgraded Intelligent Bio Solutions to a “hold” rating in a report on Monday, June 29th. One analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Reduce”.

Intelligent Bio Solutions Stock Up 1.7%

Shares of Intelligent Bio Solutions stock opened at $2.40 on Tuesday. The stock has a market capitalization of $7.27 million, a price-to-earnings ratio of -0.27 and a beta of 4.21. Intelligent Bio Solutions Inc. has a twelve month low of $1.52 and a twelve month high of $24.90. The company has a 50-day simple moving average of $2.20 and a two-hundred day simple moving average of $2.85.

Intelligent Bio Solutions (NASDAQ:INBS) last released its earnings results 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. Intelligent Bio Solutions had a negative return on equity of 175.35% and a negative net margin of 294.88%.The firm had revenue of $1.15 million during the quarter, compared to the consensus estimate of $1.22 million. On average, sell-side analysts anticipate that Intelligent Bio Solutions Inc. will post -5.18 earnings per share for the current fiscal 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.