Intelligent Bio Solutions (NASDAQ:INBS) Stock Price Down 4.5% – Should You Sell?

Intelligent Bio Solutions Inc. (NASDAQ:INBS)’s share price was down 4.5% during mid-day trading on Monday . The stock traded as low as $1.47 and last traded at $1.50. Approximately 61,203 shares were traded during trading, a decline of 96% from the average daily volume of 1,586,529 shares. The stock had previously closed at $1.57.

Intelligent Bio Solutions Stock Performance

The company has a 50-day moving average of $1.56 and a 200-day moving average of $1.94. The stock has a market capitalization of $4.68 million, a price-to-earnings ratio of -0.04 and a beta of 4.70.

Hedge Funds Weigh In On Intelligent Bio Solutions

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

About Intelligent Bio Solutions

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.