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

Artelo Biosciences, Inc. (NASDAQ:ARTL) was the recipient of a large decrease in short interest in the month of October. As of October 31st, there was short interest totalling 19,900 shares, a decrease of 26.8% from the October 15th total of 27,200 shares. Based on an average daily volume of 11,100 shares, the short-interest ratio is currently 1.8 days. Approximately 0.6% of the shares of the company are sold short.

Analyst Ratings Changes

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

Artelo Biosciences Trading Down 3.7 %

NASDAQ ARTL traded down $0.04 on Friday, reaching $1.04. 5,991 shares of the stock were exchanged, compared to its average volume of 33,507. Artelo Biosciences has a one year low of $1.00 and a one year high of $1.75. The firm has a market capitalization of $3.36 million, a PE ratio of -0.37 and a beta of 1.35. The company’s 50-day simple moving average is $1.15 and its two-hundred day simple moving average is $1.28.

Artelo Biosciences (NASDAQ:ARTL) last released its earnings results on Tuesday, November 12th. The company reported ($0.35) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.41) by $0.06. Sell-side analysts forecast that Artelo Biosciences will post -2.41 earnings per share for the current fiscal 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.