Artelo Biosciences, Inc. (NASDAQ:ARTL) Short Interest Update

Artelo Biosciences, Inc. (NASDAQ:ARTL) saw a large decline in short interest during the month of April. As of April 30th, there was short interest totaling 62,523 shares, a decline of 75.1% from the April 15th total of 250,964 shares. Currently, 7.5% of the shares of the stock are short sold. Based on an average daily volume of 3,024,082 shares, the days-to-cover ratio is currently 0.0 days.

Artelo Biosciences Stock Down 6.4%

Artelo Biosciences stock traded down $0.15 during trading hours on Friday, reaching $2.19. 5,409 shares of the company’s stock were exchanged, compared to its average volume of 2,293,886. The firm’s 50 day simple moving average is $4.92 and its 200 day simple moving average is $5.05. Artelo Biosciences has a twelve month low of $2.24 and a twelve month high of $85.80. The firm has a market capitalization of $2.06 million, a PE ratio of -0.03 and a beta of 0.05.

Artelo Biosciences (NASDAQ:ARTL) last announced its earnings results on Thursday, May 14th. The company reported ($4.00) EPS for the quarter, missing the consensus estimate of ($0.78) by ($3.22).

Analyst Ratings Changes

ARTL has been the topic of several recent research reports. Wall Street Zen downgraded Artelo Biosciences to a “strong sell” rating in a report on Saturday, April 25th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Artelo Biosciences in a report on Friday, March 27th. Two investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Artelo Biosciences has a consensus rating of “Reduce” and a consensus target price of $54.00.

Artelo Biosciences Company Profile

Artelo Biosciences, Inc is a clinical-stage biopharmaceutical company focused on the development of novel small-molecule therapies for pain, inflammation, ocular and cardiometabolic disorders. The company leverages a proprietary drug delivery and targeting platform designed to enhance the safety and efficacy profiles of well-characterized active pharmaceutical ingredients. Artelo’s approach is centered on repurposing and optimizing therapeutic molecules to address significant unmet medical needs, with particular emphasis on improving patient tolerability and clinical outcomes.

The company’s lead program, AB101, is an orally bioavailable ion channel modulator in development for neuropathic pain conditions including post-herpetic neuralgia.