Artelo Biosciences, Inc. (NASDAQ:ARTL) Sees Significant Decrease in Short Interest

Artelo Biosciences, Inc. (NASDAQ:ARTL) saw a significant drop in short interest in the month of August. As of August 15th, there was short interest totalling 37,300 shares, a drop of 20.5% from the July 31st total of 46,900 shares. Based on an average daily volume of 80,300 shares, the short-interest ratio is presently 0.5 days. Currently, 1.2% of the shares of the stock are sold short.

Artelo Biosciences Trading Up 4.8 %

Shares of ARTL opened at $1.31 on Friday. Artelo Biosciences has a 12 month low of $1.15 and a 12 month high of $2.98. The stock’s 50 day moving average is $1.32 and its two-hundred day moving average is $1.40. The firm has a market cap of $4.23 million, a P/E ratio of -0.41 and a beta of 1.43.

Artelo Biosciences (NASDAQ:ARTL) last issued its quarterly earnings results on Tuesday, August 13th. The company reported ($0.75) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.85) by $0.10. Equities research analysts forecast that Artelo Biosciences will post -2.09 EPS for the current year.

Analyst Upgrades and Downgrades

Separately, HC Wainwright reissued a “buy” rating and issued a $5.00 price objective on shares of Artelo Biosciences in a report on Wednesday, August 14th.

Artelo Biosciences Company Profile

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.