Short Interest in Artelo Biosciences, Inc. (NASDAQ:ARTL) Decreases By 52.0%

Artelo Biosciences, Inc. (NASDAQ:ARTL) was the recipient of a significant decline in short interest during the month of February. As of February 13th, there was short interest totaling 53,039 shares, a decline of 52.0% from the January 29th total of 110,410 shares. Currently, 3.0% of the shares of the stock are short sold. Based on an average daily volume of 28,117 shares, the days-to-cover ratio is currently 1.9 days. Based on an average daily volume of 28,117 shares, the days-to-cover ratio is currently 1.9 days. Currently, 3.0% of the shares of the stock are short sold.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on ARTL shares. Weiss Ratings reissued a “sell (e+)” rating on shares of Artelo Biosciences in a report on Monday, December 29th. Maxim Group reiterated a “hold” rating on shares of Artelo Biosciences in a research report on Wednesday, November 19th. One research analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $24.00.

Artelo Biosciences Stock Performance

Shares of NASDAQ:ARTL opened at $1.24 on Friday. The business’s fifty day moving average price is $1.47 and its two-hundred day moving average price is $3.46. The stock has a market cap of $2.63 million, a PE ratio of -0.06 and a beta of 1.13. Artelo Biosciences has a one year low of $1.10 and a one year high of $28.60.

Artelo Biosciences Company Profile

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.