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

Artelo Biosciences, Inc. (NASDAQ:ARTL) saw a significant decrease in short interest in the month of August. As of August 14th, there was short interest totaling 85,320 shares, a decrease of 36.9% from the July 30th total of 135,122 shares. Approximately 1.9% of the company’s shares are short sold. Based on an average daily volume of 159,571 shares, the short-interest ratio is presently 0.5 days.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on ARTL. Wall Street Zen raised shares of Artelo Biosciences from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 16th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Artelo Biosciences in a research note on Wednesday, June 24th. Two analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Reduce”.

Artelo Biosciences Trading Down 5.7%

NASDAQ:ARTL traded down $0.36 during midday trading on Tuesday, reaching $6.00. The company had a trading volume of 72,133 shares, compared to its average volume of 200,973. Artelo Biosciences has a 12-month low of $4.68 and a 12-month high of $249.75. The firm has a market capitalization of $29.58 million, a price-to-earnings ratio of -0.36 and a beta of -0.07. The stock’s fifty day simple moving average is $8.24 and its 200-day simple moving average is $24.35.

Artelo Biosciences (NASDAQ:ARTL) last issued its quarterly earnings results on Wednesday, August 12th. The company reported ($8.01) earnings per share for the quarter, missing the consensus estimate of ($6.48) by ($1.53).

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.