Check Cap (CHEK) Trading -12% Higher Following Better-Than-Expected Earnings

Check Cap Ltd (NASDAQ:CHEK) shares traded up 12% on Thursday following a better than expected earnings announcement. The stock traded as high as $4.95 and last traded at $5.06. 57,754 shares traded hands during mid-day trading, a decline of 85% from the average session volume of 374,885 shares. The stock had previously closed at $5.75.

The medical research company reported ($1.27) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($1.68) by $0.41.

A number of research firms have issued reports on CHEK. HC Wainwright began coverage on Check Cap in a research report on Tuesday, March 13th. They set a “buy” rating and a $72.00 price target for the company. Zacks Investment Research raised Check Cap from a “hold” rating to a “buy” rating and set a $5.00 price target for the company in a research report on Wednesday, May 9th. Finally, ValuEngine raised Check Cap from a “sell” rating to a “hold” rating in a research report on Wednesday, April 4th.

An institutional investor recently bought a new position in Check Cap stock. Anson Funds Management LP purchased a new stake in shares of Check Cap Ltd (NASDAQ:CHEK) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 332,302 shares of the medical research company’s stock, valued at approximately $289,000. Anson Funds Management LP owned 1.73% of Check Cap at the end of the most recent quarter.

Check Cap Company Profile

Check-Cap Ltd., a clinical stage medical diagnostics company, engages in the development of an ingestible imaging capsule that utilizes low-dose X-rays for screening of the colon to detect polyps, masses, and colorectal cancers. 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 that is designed to track the capsule and record imaging and positioning data; 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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