Check-Cap Ltd. (CHEK) Hits New 12-Month Low on Disappointing Earnings
Check-Cap Ltd. (NASDAQ:CHEK) hit a new 52-week low on Friday following a weaker than expected earnings announcement. The stock traded as low as $1.71 and last traded at $1.71, with a volume of 22,832 shares changing hands. The stock had previously closed at $1.75.
The medical research company reported ($0.17) EPS for the quarter, missing the consensus estimate of ($0.16) by $0.01.
CHEK has been the subject of a number of recent analyst reports. Zacks Investment Research cut shares of Check-Cap from a “buy” rating to a “hold” rating in a research report on Tuesday, May 23rd. Maxim Group restated a “buy” rating on shares of Check-Cap in a research report on Tuesday, May 30th. Finally, ValuEngine cut shares of Check-Cap from a “hold” rating to a “sell” rating in a research report on Wednesday, July 12th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company’s stock. Check-Cap has an average rating of “Hold” and an average price target of $5.00.
A hedge fund recently raised its stake in Check-Cap stock. Knott David M increased its position in Check-Cap Ltd. (NASDAQ:CHEK) by 1.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 162,871 shares of the medical research company’s stock after buying an additional 3,000 shares during the period. Knott David M owned approximately 1.05% of Check-Cap worth $349,000 at the end of the most recent quarter. Institutional investors and hedge funds own 13.35% of the company’s stock.
The firm has a 50-day moving average price of $1.85 and a 200 day moving average price of $2.06. The company’s market capitalization is $26.88 million.
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Check-Cap Company Profile
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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