7,721,585 Shares in Intelligent Bio Solutions Inc. $INBS Purchased by Deutsche Bank AG

Deutsche Bank AG bought a new stake in shares of Intelligent Bio Solutions Inc. (NASDAQ:INBS) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 7,721,585 shares of the company’s stock, valued at approximately $39,843,000. Deutsche Bank AG owned 3.23% of Intelligent Bio Solutions at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp bought a new position in Intelligent Bio Solutions in the 2nd quarter worth approximately $9,655,000. ADAR1 Capital Management LLC bought a new stake in shares of Intelligent Bio Solutions during the third quarter valued at approximately $435,000. State of Wyoming purchased a new position in shares of Intelligent Bio Solutions in the second quarter worth $453,000. Alyeska Investment Group L.P. lifted its holdings in shares of Intelligent Bio Solutions by 9.7% in the third quarter. Alyeska Investment Group L.P. now owns 673,492 shares of the company’s stock worth $687,000 after buying an additional 59,600 shares in the last quarter. Finally, GSA Capital Partners LLP bought a new position in shares of Intelligent Bio Solutions during the second quarter worth $184,000. 32.97% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have commented on INBS. 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. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Intelligent Bio Solutions in a report on Friday, July 17th. Finally, Zacks Research upgraded Intelligent Bio Solutions to a “hold” rating in a research report on Monday, June 29th. One research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Reduce”.

Intelligent Bio Solutions Stock Performance

Shares of INBS stock opened at $2.51 on Friday. The stock has a 50 day moving average price of $2.19 and a 200 day moving average price of $3.05. Intelligent Bio Solutions Inc. has a 52-week low of $1.52 and a 52-week high of $24.90. The firm has a market capitalization of $6.00 million, a P/E ratio of -0.28 and a beta of 4.21.

Intelligent Bio Solutions (NASDAQ:INBS) last issued its earnings results on Wednesday, August 19th. The company reported ($0.90) EPS for the quarter, topping analysts’ consensus estimates of ($1.58) by $0.68. The business had revenue of $1.15 million for the quarter, compared to analyst estimates of $1.22 million. Intelligent Bio Solutions had a negative net margin of 294.88% and a negative return on equity of 175.35%. As a group, sell-side analysts forecast that Intelligent Bio Solutions Inc. will post -5.18 EPS 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.