Summit Creek Advisors LLC Invests $4.59 Million in Intelligent Bio Solutions Inc. $INBS

Summit Creek Advisors LLC bought a new stake in Intelligent Bio Solutions Inc. (NASDAQ:INBS) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 890,542 shares of the company’s stock, valued at approximately $4,595,000. Summit Creek Advisors LLC owned about 0.37% of Intelligent Bio Solutions at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the business. Global Retirement Partners LLC acquired a new stake in Intelligent Bio Solutions in the 2nd quarter worth about $34,000. Meeder Advisory Services Inc. purchased a new stake in Intelligent Bio Solutions in the 2nd quarter valued at about $64,000. Perigon Wealth Management LLC acquired a new position in shares of Intelligent Bio Solutions during the 2nd quarter valued at about $65,000. Citizens Financial Group Inc. RI acquired a new position in shares of Intelligent Bio Solutions during the 2nd quarter valued at about $70,000. Finally, GSA Capital Partners LLP purchased a new position in shares of Intelligent Bio Solutions during the 2nd quarter worth about $184,000. 32.97% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Intelligent Bio Solutions Stock Performance

NASDAQ INBS opened at $3.22 on Wednesday. Intelligent Bio Solutions Inc. has a one year low of $1.52 and a one year high of $24.90. The company’s 50 day moving average price is $2.18 and its 200 day moving average price is $3.14. The firm has a market capitalization of $7.70 million, a price-to-earnings ratio of -0.26 and a beta of 4.21.

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.