Check Cap Ltd (NASDAQ:CHEK) saw a large drop in short interest during the month of August. As of August 31st, there was short interest totalling 647,000 shares, a drop of 9.1% from the July 31st total of 712,000 shares. Currently, 9.0% of the shares of the company are sold short. Based on an average daily volume of 109,100 shares, the short-interest ratio is presently 5.9 days.

CHEK has been the subject of several research analyst reports. Zacks Investment Research upgraded shares of Check Cap from a “sell” rating to a “hold” rating in a research note on Friday, May 17th. HC Wainwright restated a “buy” rating and set a $15.00 price target on shares of Check Cap in a research note on Wednesday, July 10th.

A hedge fund recently raised its stake in Check Cap stock. Renaissance Technologies LLC boosted its holdings in Check Cap Ltd (NASDAQ:CHEK) by 24.3% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 307,468 shares of the medical research company’s stock after buying an additional 60,026 shares during the period. Renaissance Technologies LLC owned approximately 19.16% of Check Cap worth $652,000 as of its most recent filing with the Securities and Exchange Commission.

Shares of CHEK stock traded up $0.04 during trading hours on Friday, hitting $2.10. 580 shares of the company were exchanged. The firm has a fifty day simple moving average of $2.00 and a 200 day simple moving average of $2.29. Check Cap has a 52-week low of $1.62 and a 52-week high of $4.36. The stock has a market capitalization of $3.33 million and a price-to-earnings ratio of -0.80.

Check Cap (NASDAQ:CHEK) last issued its quarterly earnings results on Wednesday, August 7th. The medical research company reported ($0.41) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.46) by $0.05. Research analysts forecast that Check Cap will post -1.66 EPS for the current fiscal year.

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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