Intelligent Bio Solutions (NASDAQ:INBS) Stock Price Up 11.9% – Here’s What Happened

Intelligent Bio Solutions Inc. (NASDAQ:INBS) shares were up 11.9% during trading on Tuesday . The stock traded as high as $1.63 and last traded at $1.60. Approximately 172,719 shares changed hands during mid-day 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 Price Performance

The company has a 50-day moving average of $1.31 and a 200 day moving average of $1.59.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Intelligent Bio Solutions stock. Alyeska Investment Group L.P. purchased a new position in Intelligent Bio Solutions Inc. (NASDAQ:INBS) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 613,892 shares of the company’s stock, valued at approximately $884,000. Alyeska Investment Group L.P. owned approximately 8.88% of Intelligent Bio Solutions at the end of the most recent quarter. Hedge funds and other institutional investors own 32.97% of the company’s stock.

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.