Artelo Biosciences (NASDAQ:ARTL) Stock Price Down 1.8% – Time to Sell?

Shares of Artelo Biosciences, Inc. (NASDAQ:ARTL) traded down 1.8% during trading on Wednesday . The stock traded as low as $1.0401 and last traded at $1.10. Approximately 689,856 shares changed hands during trading, an increase of 162% from the average daily volume of 262,956 shares. The stock had previously closed at $1.12.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Wall Street Zen raised Artelo Biosciences from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 16th. Weiss Ratings restated a “sell (e+)” rating on shares of Artelo Biosciences in a research note on Wednesday, June 24th. Two analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Reduce” and a consensus price target of $54.00.

Artelo Biosciences Stock Performance

The firm has a market cap of $2.56 million, a P/E ratio of -0.03 and a beta of -0.11. The company has a 50-day moving average of $1.92 and a 200 day moving average of $3.87.

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

Artelo Biosciences Company Profile

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.