Artelo Biosciences, Inc. (NASDAQ:ARTL) Sees Large Drop in Short Interest

Artelo Biosciences, Inc. (NASDAQ:ARTL) saw a large decline in short interest in the month of September. As of September 15th, there was short interest totalling 36,300 shares, a decline of 20.7% from the August 31st total of 45,800 shares. Currently, 1.1% of the shares of the company are sold short. Based on an average daily volume of 79,000 shares, the days-to-cover ratio is presently 0.5 days.

Analyst Upgrades and Downgrades

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

Artelo Biosciences Stock Performance

Shares of NASDAQ ARTL traded up $0.01 during midday trading on Friday, reaching $1.09. 1,830 shares of the company traded hands, compared to its average volume of 36,847. Artelo Biosciences has a 12 month low of $1.00 and a 12 month high of $1.78. The stock’s 50-day simple moving average is $1.27 and its 200-day simple moving average is $1.35. The firm has a market cap of $3.52 million, a PE ratio of -0.34 and a beta of 1.37.

Artelo Biosciences (NASDAQ:ARTL) last issued its quarterly earnings data on Tuesday, August 13th. The company reported ($0.75) earnings per share for the quarter, topping the consensus estimate of ($0.85) by $0.10. On average, equities research analysts expect that Artelo Biosciences will post -2.41 EPS for the current year.

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.