Short Interest in Artelo Biosciences, Inc. (NASDAQ:ARTL) Drops By 27.1%

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 totaling 48,600 shares, a decrease of 27.1% from the September 30th total of 66,700 shares. Approximately 4.3% of the company’s shares are short sold. Based on an average daily volume of 109,700 shares, the short-interest ratio is presently 0.4 days. Based on an average daily volume of 109,700 shares, the short-interest ratio is presently 0.4 days. Approximately 4.3% of the company’s shares are short sold.

Artelo Biosciences Price Performance

ARTL stock traded down $0.60 during mid-day trading on Tuesday, reaching $2.40. The company had a trading volume of 5,637,034 shares, compared to its average volume of 267,404. The company has a market capitalization of $1.68 million, a PE ratio of -0.13 and a beta of 1.24. The firm has a 50 day moving average of $5.14 and a 200 day moving average of $7.73. Artelo Biosciences has a 12 month low of $2.30 and a 12 month high of $28.60.

Artelo Biosciences (NASDAQ:ARTL) last announced its quarterly earnings results on Wednesday, August 13th. The company reported ($5.61) earnings per share for the quarter, missing the consensus estimate of ($0.13) by ($5.48). Analysts anticipate that Artelo Biosciences will post -2.62 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. D Boral Capital downgraded shares of Artelo Biosciences from a “strong-buy” rating to a “hold” rating in a report on Monday, September 8th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Artelo Biosciences in a report on Wednesday, October 8th. D. Boral Capital reiterated a “hold” rating on shares of Artelo Biosciences in a report on Monday, September 8th. Finally, Wall Street Zen downgraded shares of Artelo Biosciences to a “strong sell” rating in a research note on Saturday, August 9th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $24.00.

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.