Short Interest in Artelo Biosciences, Inc. (NASDAQ:ARTL) Declines By 26.8%

Artelo Biosciences, Inc. (NASDAQ:ARTL) was the target of a large decline in short interest during the month of October. As of October 31st, there was short interest totalling 19,900 shares, a decline of 26.8% from the October 15th total of 27,200 shares. Based on an average trading volume of 11,100 shares, the days-to-cover ratio is presently 1.8 days. Currently, 0.6% of the shares of the stock are short sold.

Artelo Biosciences Price Performance

Shares of NASDAQ:ARTL traded down $0.04 during trading on Friday, hitting $1.04. The company had a trading volume of 5,991 shares, compared to its average volume of 33,507. The stock has a market cap of $3.36 million, a price-to-earnings ratio of -0.37 and a beta of 1.35. The company has a fifty day simple moving average of $1.15 and a two-hundred day simple moving average of $1.28. Artelo Biosciences has a one year low of $1.00 and a one year high of $1.75.

Artelo Biosciences (NASDAQ:ARTL) last issued its quarterly earnings results on Tuesday, November 12th. The company reported ($0.35) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.41) by $0.06. On average, equities research analysts anticipate that Artelo Biosciences will post -2.41 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on ARTL. HC Wainwright reissued a “buy” rating and issued a $5.00 target price on shares of Artelo Biosciences in a report on Wednesday. EF Hutton Acquisition Co. I upgraded shares of Artelo Biosciences to a “strong-buy” rating in a report on Tuesday, October 1st.

Artelo Biosciences Company Profile

Artelo Biosciences, Inc, a clinical stage biopharmaceutical company, develops and commercializes therapeutics that target lipid-signaling pathways in the United States. It's product candidate pipeline includes ART27.13, a synthetic dual cannabinoid G protein-coupled receptor agonist, which is in Phase 1b/2a clinical trial for the treatment of anorexia associated with cancer; ART12.11, a synthetic cannabidiol cocrystal for the treatment anxiety, post-traumatic stress disorder, epilepsy, inflammatory bowel disease, and other potential indications; and ART26.12, a fatty acid binding protein 5 inhibitor for treating chemotherapy induced peripheral neuropathy, diabetic neuropathy, prostate cancer and breast cancer, pain, dermatologic conditions, and anxiety disorders.