Short Interest in Artelo Biosciences, Inc. (NASDAQ:ARTL) Drops By 39.5%

Artelo Biosciences, Inc. (NASDAQ:ARTL) was the recipient of a significant decrease in short interest in May. As of May 15th, there was short interest totaling 37,850 shares, a decrease of 39.5% from the April 30th total of 62,523 shares. Currently, 1.8% of the shares of the stock are short sold. Based on an average daily trading volume, of 871,254 shares, the short-interest ratio is currently 0.0 days.

Analyst Ratings Changes

A number of brokerages have issued reports on ARTL. Weiss Ratings reiterated a “sell (e+)” rating on shares of Artelo Biosciences in a research note on Friday, March 27th. Wall Street Zen upgraded shares of Artelo Biosciences from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 16th. Two research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus target price of $54.00.

Artelo Biosciences Stock Performance

Shares of ARTL traded down $0.09 during mid-day trading on Wednesday, reaching $1.36. The company had a trading volume of 47,411 shares, compared to its average volume of 2,600,425. The company’s 50 day simple moving average is $4.19 and its 200 day simple moving average is $4.50. Artelo Biosciences has a 1-year low of $1.19 and a 1-year high of $85.80. The company has a market capitalization of $3.17 million, a price-to-earnings ratio of -0.04 and a beta of -0.13.

Artelo Biosciences (NASDAQ:ARTL) last posted its quarterly earnings results on Thursday, May 14th. The company reported ($4.00) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.78) by ($3.22).

About Artelo Biosciences

Artelo Biosciences, Inc is a clinical-stage biopharmaceutical company focused on the development of novel small-molecule therapies for pain, inflammation, ocular and cardiometabolic disorders. The company leverages a proprietary drug delivery and targeting platform designed to enhance the safety and efficacy profiles of well-characterized active pharmaceutical ingredients. Artelo’s approach is centered on repurposing and optimizing therapeutic molecules to address significant unmet medical needs, with particular emphasis on improving patient tolerability and clinical outcomes.

The company’s lead program, AB101, is an orally bioavailable ion channel modulator in development for neuropathic pain conditions including post-herpetic neuralgia.