Artelo Biosciences, Inc. (NASDAQ:ARTL) Sees Significant Decrease in Short Interest

Artelo Biosciences, Inc. (NASDAQ:ARTL) saw a large decline in short interest in December. As of December 31st, there was short interest totaling 48,967 shares, a decline of 73.7% from the December 15th total of 185,968 shares. Based on an average daily trading volume, of 76,858 shares, the days-to-cover ratio is currently 0.6 days. Currently, 2.7% of the shares of the stock are sold short. Currently, 2.7% of the shares of the stock are sold short. Based on an average daily trading volume, of 76,858 shares, the days-to-cover ratio is currently 0.6 days.

Artelo Biosciences Stock Down 1.4%

Shares of ARTL stock opened at $1.40 on Tuesday. The company’s fifty day simple moving average is $1.69 and its two-hundred day simple moving average is $6.15. Artelo Biosciences has a 52 week low of $1.15 and a 52 week high of $28.60. The stock has a market cap of $2.83 million, a P/E ratio of -0.07 and a beta of 1.04.

Artelo Biosciences (NASDAQ:ARTL) last issued its quarterly earnings data on Wednesday, November 12th. The company reported ($3.97) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.82) by ($3.15). On average, analysts anticipate that Artelo Biosciences will post -2.62 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on ARTL shares. Maxim Group reissued a “hold” rating on shares of Artelo Biosciences in a report on Wednesday, November 19th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Artelo Biosciences in a research report on Monday, December 29th. One investment analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $24.00.

About Artelo Biosciences

Artelo Biosciences, Inc is a clinical-stage biopharmaceutical company focused on the development of novel small-molecule therapies for pain, inflammation, ocular and cardiometabolic disorders. The company leverages a proprietary drug delivery and targeting platform designed to enhance the safety and efficacy profiles of well-characterized active pharmaceutical ingredients. Artelo’s approach is centered on repurposing and optimizing therapeutic molecules to address significant unmet medical needs, with particular emphasis on improving patient tolerability and clinical outcomes.

The company’s lead program, AB101, is an orally bioavailable ion channel modulator in development for neuropathic pain conditions including post-herpetic neuralgia.