Separately, Zacks Investment Research upgraded Check Cap from a hold rating to a buy rating and set a $3.75 price target on the stock in a report on Monday, August 6th.
CHEK stock traded down $0.03 during midday trading on Wednesday, hitting $3.70. 41,893 shares of the company traded hands, compared to its average volume of 304,904. Check Cap has a twelve month low of $3.08 and a twelve month high of $23.28.
Check Cap (NASDAQ:CHEK) last announced its quarterly earnings results on Friday, August 10th. The medical research company reported ($0.70) EPS for the quarter, beating the consensus estimate of ($0.82) by $0.12. On average, sell-side analysts anticipate that Check Cap will post -2.6 earnings per share for the current fiscal year.
A hedge fund recently bought a new stake in Check Cap stock. Fosun International Ltd acquired a new position in Check Cap Ltd (NASDAQ:CHEK) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 127,558 shares of the medical research company’s stock, valued at approximately $517,000. Fosun International Ltd owned about 7.97% of Check Cap at the end of the most recent quarter. 17.41% of the stock is currently owned by hedge funds and other institutional investors.
About Check Cap
Check-Cap Ltd., a clinical stage medical diagnostics company, engages in the development of a capsule-based system that utilizes low-dose X-rays for screening of the colon to detect polyps, masses, and colorectal cancers in Israel. Its C-Scan system consists of C-Scan Cap, an X-ray scanning capsule, which is designed to measure, collect, and transmit structural information; C-Scan Track, a biocompatible unit worn on the patient's back for capsule control, tracking, and data recording; and C-Scan View, a personal computer-based software package, which is designed to retrieve and process clinical data from the C-Scan Track, and to reconstruct and produce 3D visualization of the colon's inner surface.
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