Intelligent Bio Solutions Inc. (NASDAQ:INBS) Sees Significant Growth in Short Interest

Intelligent Bio Solutions Inc. (NASDAQ:INBS) saw a significant growth in short interest in the month of October. As of October 15th, there was short interest totalling 369,400 shares, a growth of 24.3% from the September 30th total of 297,300 shares. Approximately 8.9% of the shares of the company are sold short. Based on an average daily volume of 1,730,000 shares, the days-to-cover ratio is currently 0.2 days.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Intelligent Bio Solutions stock. Virtu Financial LLC bought a new position in shares of Intelligent Bio Solutions Inc. (NASDAQ:INBS) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 12,537 shares of the company’s stock, valued at approximately $53,000. Virtu Financial LLC owned approximately 0.40% of Intelligent Bio Solutions at the end of the most recent reporting period. Institutional investors and hedge funds own 32.97% of the company’s stock.

Intelligent Bio Solutions Stock Performance

Shares of NASDAQ INBS traded down $0.06 during mid-day trading on Wednesday, reaching $1.46. The company had a trading volume of 59,068 shares, compared to its average volume of 1,535,614. Intelligent Bio Solutions has a one year low of $1.00 and a one year high of $11.70. The firm has a market cap of $4.55 million, a price-to-earnings ratio of -0.04 and a beta of 4.70. The business’s 50-day simple moving average is $1.61 and its 200 day simple moving average is $1.86.

Intelligent Bio Solutions Company Profile

Intelligent Bio Solutions Inc, a medical technology company, developing non-invasive, real-time monitoring, and diagnostic tests for patients and their primary health practitioners. It offers saliva glucose biosensor for diabetes management that measures glucose in saliva. The company also provides intelligent fingerprinting drug screening system, a revolutionizing portable testing through fingerprint sweat analysis, which has the potential for broader applications in additional fields; and biosensor platform for biochemistry, immunology, tumor markers, hormones, and nucleic acid diagnostic modalities.