Check-Cap (NASDAQ:CHEK) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released 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. “

A number of other research firms have also weighed in on CHEK. HC Wainwright reissued a “buy” rating and set a $7.00 price objective (up previously from $6.00) on shares of Check-Cap in a research note on Thursday, September 28th. Maxim Group reissued a “buy” rating and set a $5.00 price objective on shares of Check-Cap in a research note on Wednesday, September 27th. Finally, ValuEngine lowered Check-Cap from a “sell” rating to a “strong sell” rating in a research note on Friday, August 4th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $4.63.

Check-Cap (NASDAQ CHEK) traded down $0.05 during trading hours on Friday, hitting $0.91. The stock had a trading volume of 502,063 shares, compared to its average volume of 252,803. Check-Cap has a 52-week low of $0.88 and a 52-week high of $2.70.

An institutional investor recently raised its position in Check-Cap stock. Sabby Management LLC grew its stake in shares of Check-Cap Ltd. (NASDAQ:CHEK) by 467.9% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,418,893 shares of the medical research company’s stock after purchasing an additional 1,169,061 shares during the quarter. Check-Cap makes up approximately 0.1% of Sabby Management LLC’s portfolio, making the stock its 24th biggest position. Sabby Management LLC owned 8.36% of Check-Cap worth $2,724,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 19.13% of the company’s stock.

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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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