Artelo Biosciences (NASDAQ:ARTL) Shares Up 2.9%

Artelo Biosciences, Inc. (NASDAQ:ARTLGet Rating) shares shot up 2.9% during trading on Friday . The company traded as high as $0.35 and last traded at $0.34. 289,619 shares traded hands during mid-day trading, a decline of 74% from the average session volume of 1,099,637 shares. The stock had previously closed at $0.33.

ARTL has been the topic of a number of research analyst reports. HC Wainwright reaffirmed a “buy” rating and set a $4.00 target price on shares of Artelo Biosciences in a report on Tuesday, April 12th. Zacks Investment Research raised Artelo Biosciences from a “sell” rating to a “hold” rating in a report on Wednesday, March 16th.

The company has a market capitalization of $14.57 million, a price-to-earnings ratio of -1.15 and a beta of 1.94. The firm has a 50-day moving average price of $0.39 and a 200-day moving average price of $0.48.

Several hedge funds have recently modified their holdings of the company. Renaissance Technologies LLC grew its holdings in shares of Artelo Biosciences by 67.8% in the 1st quarter. Renaissance Technologies LLC now owns 182,619 shares of the company’s stock worth $82,000 after acquiring an additional 73,819 shares during the last quarter. Virtu Financial LLC grew its holdings in shares of Artelo Biosciences by 319.1% in the 4th quarter. Virtu Financial LLC now owns 180,282 shares of the company’s stock worth $94,000 after acquiring an additional 137,270 shares during the last quarter. Citadel Advisors LLC grew its holdings in shares of Artelo Biosciences by 181.8% in the 4th quarter. Citadel Advisors LLC now owns 78,586 shares of the company’s stock worth $41,000 after acquiring an additional 50,702 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of Artelo Biosciences by 15.7% in the 3rd quarter. Geode Capital Management LLC now owns 162,750 shares of the company’s stock worth $128,000 after acquiring an additional 22,139 shares during the last quarter. Institutional investors own 4.73% of the company’s stock.

About Artelo Biosciences (NASDAQ:ARTL)

Artelo Biosciences, Inc, a clinical stage biopharmaceutical company, focuses on developing and commercializing treatments to modulate the endocannabinoid system. Its product candidate pipeline includes ART27.13, a synthetic 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 of inflammatory bowel disease and post-traumatic stress disorder (PTSD); and ART26.12, a fatty acid binding protein 5 inhibitor for prostate and breast cancer treatment, as well as for treating PTSD.

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