Intelligent Bio Solutions (NASDAQ:INBS) Stock Price Up 11.9% – Time to Buy?

Intelligent Bio Solutions Inc. (NASDAQ:INBS)’s share price rose 11.9% on Tuesday . The company traded as high as $1.63 and last traded at $1.60. Approximately 172,719 shares changed hands during trading, a decline of 69% from the average daily volume of 553,161 shares. The stock had previously closed at $1.43.

Intelligent Bio Solutions Trading Up 11.9%

The stock has a 50-day moving average price of $1.31 and a two-hundred day moving average price of $1.59.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Intelligent Bio Solutions stock. Altium Capital Management LLC acquired a new stake in shares of Intelligent Bio Solutions Inc. (NASDAQ:INBS) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 149,252 shares of the company’s stock, valued at approximately $215,000. Intelligent Bio Solutions makes up 0.5% of Altium Capital Management LLC’s investment portfolio, making the stock its 17th largest holding. Altium Capital Management LLC owned approximately 2.19% of Intelligent Bio Solutions at the end of the most recent reporting period. 32.97% of the stock is currently owned by hedge funds and other institutional investors.

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.