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

Artelo Biosciences, Inc. (NASDAQ:ARTL) saw a large decrease in short interest during the month of October. As of October 15th, there was short interest totalling 27,200 shares, a decrease of 18.3% from the September 30th total of 33,300 shares. Based on an average trading volume of 9,200 shares, the short-interest ratio is presently 3.0 days. Approximately 0.9% of the shares of the stock are sold short.

Wall Street Analysts Forecast Growth

ARTL has been the subject of a number of recent analyst reports. EF Hutton Acquisition Co. I upgraded Artelo Biosciences to a “strong-buy” rating in a research report on Tuesday, October 1st. HC Wainwright reissued a “buy” rating and issued a $5.00 target price on shares of Artelo Biosciences in a research report on Wednesday, August 14th.

Artelo Biosciences Stock Up 2.6 %

Shares of ARTL traded up $0.03 during mid-day trading on Monday, reaching $1.20. The company’s stock had a trading volume of 1,900 shares, compared to its average volume of 34,373. Artelo Biosciences has a 1 year low of $1.00 and a 1 year high of $1.75. The company has a market cap of $3.87 million, a price-to-earnings ratio of -0.37 and a beta of 1.36. The business has a fifty day moving average of $1.18 and a 200 day moving average of $1.29.

Artelo Biosciences (NASDAQ:ARTL) last announced its quarterly earnings data on Tuesday, August 13th. The company reported ($0.75) EPS for the quarter, topping analysts’ consensus estimates of ($0.85) by $0.10. On average, analysts predict that Artelo Biosciences will post -2.41 earnings per share for the current year.

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.