Shares of Check-Cap Ltd. (NASDAQ:CHEK) reached a new 52-week low during trading on Wednesday . The stock traded as low as $1.03 and last traded at $1.08, with a volume of 167400 shares. The stock had previously closed at $1.09.

CHEK has been the topic of several research analyst reports. ValuEngine raised Check-Cap from a “strong sell” rating to a “sell” rating in a report on Thursday, August 17th. HC Wainwright reissued a “buy” rating and issued a $7.00 price objective (up from $6.00) on shares of Check-Cap in a report on Thursday, September 28th. Zacks Investment Research raised Check-Cap from a “hold” rating to a “buy” rating and set a $2.00 price objective on the stock in a report on Tuesday, October 3rd. Finally, Maxim Group reissued a “buy” rating and issued a $5.00 price objective on shares of Check-Cap in a report on Wednesday, September 27th. One research analyst has rated the stock with a sell rating and four have assigned a buy rating to the company’s stock. Check-Cap has a consensus rating of “Buy” and a consensus price target of $5.00.

A hedge fund recently raised its stake in Check-Cap stock. Sabby Management LLC raised its holdings in Check-Cap Ltd. (NASDAQ:CHEK) by 467.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,418,893 shares of the medical research company’s stock after purchasing an additional 1,169,061 shares during the period. Check-Cap comprises 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 SEC filing. 19.40% 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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