Artelo Biosciences, Inc. (NASDAQ:ARTL) Short Interest Up 22.8% in August

Artelo Biosciences, Inc. (NASDAQ:ARTL) was the recipient of a significant growth in short interest in August. As of August 31st, there was short interest totalling 45,800 shares, a growth of 22.8% from the August 15th total of 37,300 shares. Based on an average daily trading volume, of 79,300 shares, the short-interest ratio is presently 0.6 days. Currently, 1.4% of the company’s stock are sold short.

Artelo Biosciences Stock Up 3.4 %

Shares of NASDAQ:ARTL opened at $1.22 on Tuesday. The business’s 50 day moving average is $1.30 and its 200 day moving average is $1.37. Artelo Biosciences has a 12-month low of $1.00 and a 12-month high of $1.78. The stock has a market cap of $3.94 million, a price-to-earnings ratio of -0.39 and a beta of 1.37.

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, beating analysts’ consensus estimates of ($0.85) by $0.10. As a group, equities research analysts expect that Artelo Biosciences will post -2.41 earnings per share for the current year.

Analyst Upgrades and Downgrades

Separately, HC Wainwright reissued a “buy” rating and set a $5.00 target price 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.