Artelo Biosciences, Inc. (NASDAQ:ARTL) Short Interest Up 478.3% in May

Artelo Biosciences, Inc. (NASDAQ:ARTL) was the target of a large growth in short interest in May. As of May 29th, there was short interest totaling 218,904 shares, a growth of 478.3% from the May 14th total of 37,850 shares. Based on an average daily volume of 5,443,245 shares, the days-to-cover ratio is currently 0.0 days. Approximately 10.6% of the shares of the stock are sold short.

Artelo Biosciences Trading Up 1.1%

Artelo Biosciences stock traded up $0.02 during trading on Friday, hitting $1.34. The company had a trading volume of 128,270 shares, compared to its average volume of 2,459,802. Artelo Biosciences has a 1-year low of $1.19 and a 1-year high of $85.80. The company’s 50 day simple moving average is $3.29 and its 200-day simple moving average is $4.28. The stock has a market cap of $3.11 million, a price-to-earnings ratio of -0.04 and a beta of -0.13.

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

Analysts Set New Price Targets

A number of research analysts have weighed in on ARTL shares. Wall Street Zen raised shares of Artelo Biosciences from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 16th. Weiss Ratings restated 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 given a Sell rating to the stock. According to data from MarketBeat, Artelo Biosciences currently has an average rating of “Reduce” and an average price target of $54.00.

About Artelo Biosciences

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.