Short Interest in Artelo Biosciences, Inc. (NASDAQ:ARTL) Declines By 42.2%

Artelo Biosciences, Inc. (NASDAQ:ARTL) was the target of a large drop in short interest in the month of December. As of December 31st, there was short interest totalling 18,600 shares, a drop of 42.2% from the December 15th total of 32,200 shares. Currently, 0.6% of the company’s shares are sold short. Based on an average daily trading volume, of 31,600 shares, the days-to-cover ratio is currently 0.6 days.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on ARTL shares. EF Hutton Acquisition Co. I raised Artelo Biosciences to a “strong-buy” rating in a research report on Tuesday, October 1st. LADENBURG THALM/SH SH raised shares of Artelo Biosciences to a “strong-buy” rating in a research report on Wednesday, December 25th. D. Boral Capital reaffirmed a “buy” rating and set a $6.00 price target on shares of Artelo Biosciences in a research report on Tuesday. Finally, HC Wainwright reissued a “buy” rating and issued a $5.00 price objective on shares of Artelo Biosciences in a research report on Monday, December 9th.

Artelo Biosciences Trading Up 1.7 %

Shares of ARTL traded up $0.02 during midday trading on Thursday, reaching $1.18. 2,135 shares of the company were exchanged, compared to its average volume of 31,313. Artelo Biosciences has a 1-year low of $0.91 and a 1-year high of $1.75. The stock has a 50-day moving average price of $1.09 and a 200-day moving average price of $1.19. The company has a market cap of $3.81 million, a price-to-earnings ratio of -0.41 and a beta of 1.25.

Artelo Biosciences (NASDAQ:ARTL) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($0.35) EPS for the quarter, topping the consensus estimate of ($0.41) by $0.06. Equities research analysts anticipate that Artelo Biosciences will post -1.99 earnings per share for the current year.

About Artelo Biosciences

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.