Zacks Investment Research downgraded shares of Check-Cap (NASDAQ:CHEK) from a buy rating to a hold rating in a research report sent to investors on Friday.

According to Zacks, “Check Cap Ltd. is a medical diagnostics company. The company is engaged in the development of an ingestible imaging capsule for the screening of colorectal cancer. Check Cap Ltd. is based in Mount Carmel, Israel. “

Several other equities research analysts also recently issued reports on CHEK. ValuEngine downgraded shares of Check-Cap from a sell rating to a strong sell rating in a research report on Friday, August 4th. HC Wainwright set a $6.00 price objective on shares of Check-Cap and gave the stock a buy rating in a research report on Friday, August 11th. Finally, Maxim Group restated a buy rating and set a $5.00 price objective 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 given a buy rating to the stock. The company currently has a consensus rating of Hold and a consensus price target of $4.63.

Shares of Check-Cap (NASDAQ:CHEK) traded down $0.05 during trading hours on Friday, reaching $0.91. 502,063 shares of the company traded hands, compared to its average volume of 219,425. Check-Cap has a twelve month low of $0.88 and a twelve month high of $2.70.

A hedge fund recently raised its stake in Check-Cap stock. Sabby Management LLC grew its stake in shares of Check-Cap Ltd. (NASDAQ:CHEK) by 467.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,418,893 shares of the medical research company’s stock after acquiring an additional 1,169,061 shares during the period. Check-Cap accounts for 0.1% of Sabby Management LLC’s holdings, making the stock its 24th largest position. Sabby Management LLC owned about 8.36% of Check-Cap worth $2,724,000 as of its most recent filing with the Securities & Exchange Commission. 19.13% of the stock is currently owned by institutional investors and hedge funds.

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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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