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

Artelo Biosciences, Inc. (NASDAQ:ARTL) was the recipient of a significant decline in short interest during the month of October. As of October 15th, there was short interest totalling 27,200 shares, a decline of 18.3% from the September 30th total of 33,300 shares. Based on an average daily volume of 9,200 shares, the days-to-cover ratio is currently 3.0 days. Currently, 0.9% of the shares of the stock are short sold.

Artelo Biosciences Stock Performance

Artelo Biosciences stock opened at $1.15 on Wednesday. The stock has a fifty day moving average of $1.18 and a two-hundred day moving average of $1.29. The company has a market capitalization of $3.71 million, a price-to-earnings ratio of -0.34 and a beta of 1.36. Artelo Biosciences has a fifty-two week low of $1.00 and a fifty-two week high of $1.75.

Artelo Biosciences (NASDAQ:ARTL) last released its quarterly earnings results 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, analysts forecast that Artelo Biosciences will post -2.41 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages recently issued reports on ARTL. EF Hutton Acquisition Co. I raised Artelo Biosciences to a “strong-buy” rating in a report on Tuesday, October 1st. HC Wainwright reissued a “buy” rating and set a $5.00 price target on shares of Artelo Biosciences in a research report on Wednesday, August 14th.

About Artelo Biosciences

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.