Short Interest in Artelo Biosciences, Inc. (NASDAQ:ARTL) Drops By 8.3%

Artelo Biosciences, Inc. (NASDAQ:ARTL) was the target of a large drop in short interest in the month of September. As of September 30th, there was short interest totalling 33,300 shares, a drop of 8.3% from the September 15th total of 36,300 shares. Approximately 1.0% of the shares of the company are sold short. Based on an average daily volume of 78,200 shares, the days-to-cover ratio is currently 0.4 days.

Analyst Ratings Changes

A number of research firms have weighed in on ARTL. HC Wainwright reaffirmed a “buy” rating and issued a $5.00 price objective on shares of Artelo Biosciences in a report on Wednesday, August 14th. EF Hutton Acquisition Co. I raised Artelo Biosciences to a “strong-buy” rating in a research note on Tuesday, October 1st.

Artelo Biosciences Stock Down 3.2 %

ARTL stock opened at $1.25 on Thursday. Artelo Biosciences has a 52 week low of $1.00 and a 52 week high of $1.75. The firm has a 50-day simple moving average of $1.20 and a 200-day simple moving average of $1.31. The stock has a market capitalization of $4.03 million, a P/E ratio of -0.41 and a beta of 1.36.

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

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.