Intelligent Bio Solutions Inc. (NASDAQ:INBS) Short Interest Up 24.3% in October

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

Hedge Funds Weigh In On Intelligent Bio Solutions

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

Intelligent Bio Solutions Stock Performance

INBS stock traded down $0.04 during midday trading on Wednesday, hitting $1.48. 61,978 shares of the stock were exchanged, compared to its average volume of 1,535,625. The stock’s 50-day moving average price is $1.61 and its 200-day moving average price is $1.86. The stock has a market cap of $4.61 million, a price-to-earnings ratio of -0.04 and a beta of 4.70. Intelligent Bio Solutions has a fifty-two week low of $1.00 and a fifty-two week high of $11.70.

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.