Check Cap (CHEK) Stock Price Up 0% Following Analyst Upgrade

Check Cap Ltd (NASDAQ:CHEK)’s share price rose 0% during trading on Thursday after HC Wainwright raised their price target on the stock from $5.50 to $6.00. HC Wainwright currently has a buy rating on the stock. Check Cap traded as high as $1.02 and last traded at $0.93. Approximately 1,504,361 shares traded hands during trading, an increase of 226% from the average daily volume of 460,983 shares. The stock had previously closed at $0.93.

Other equities analysts have also issued reports about the stock. Zacks Investment Research raised shares of Check Cap from a “hold” rating to a “buy” rating and set a $2.00 price target on the stock in a research report on Tuesday, October 3rd. Maxim Group reaffirmed a “buy” rating and set a $5.00 price target on shares of Check Cap in a research report on Wednesday, September 27th. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the stock. Check Cap currently has a consensus rating of “Hold” and an average target price of $4.75.

A hedge fund recently raised its stake in Check Cap stock. Sabby Management LLC raised its position in Check Cap Ltd (NASDAQ:CHEK) by 467.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,418,893 shares of the medical research company’s stock after buying an additional 1,169,061 shares during the quarter. Check Cap comprises about 0.1% of Sabby Management LLC’s portfolio, making the stock its 24th largest position. Sabby Management LLC owned about 8.36% of Check Cap worth $2,724,000 at the end of the most recent reporting period. 18.97% of the stock is owned by institutional investors.

The company has a market cap of $18.35 and a price-to-earnings ratio of -1.60.

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About Check Cap

Check-Cap Ltd. (Check-Cap) is a clinical-stage medical diagnostics company. The Company is engaged in the development of an ingestible imaging capsule that utilizes low-dose X-rays for the detection and imaging of colonic polyps and colorectal cancers, or CRC. The Company’s system consists of main components, such as ingestible scanning capsule; Capsule Positioning System (CPS), a recorder worn on the patient’s back, and a personal computer (PC)-based work station for data reconstruction and image processing.

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