Artelo Biosciences (NASDAQ:ARTL) Stock Scheduled to Reverse Split on Monday, August 31st

Shares of Artelo Biosciences, Inc. (NASDAQ:ARTL) are scheduled to reverse split on Monday, August 31st. The 1-9 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the market closes on Sunday, August 30th.

Artelo Biosciences Stock Performance

ARTL stock traded down $0.05 during mid-day trading on Thursday, reaching $0.66. The company had a trading volume of 832,187 shares, compared to its average volume of 508,567. The stock’s 50-day simple moving average is $0.94 and its two-hundred day simple moving average is $2.76. Artelo Biosciences has a one year low of $0.52 and a one year high of $28.14.

Artelo Biosciences (NASDAQ:ARTL) last released its quarterly earnings data on Wednesday, August 12th. The company reported ($0.89) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.72) by ($0.17).

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on ARTL. Weiss Ratings reiterated a “sell (e+)” rating on shares of Artelo Biosciences in a research report on Wednesday, June 24th. Wall Street Zen upgraded shares of Artelo Biosciences from a “strong sell” rating to a “sell” rating in a report on Saturday, May 16th. Two investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Artelo Biosciences presently has an average rating of “Reduce”.

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.