Artelo Biosciences (NASDAQ:ARTL) Shares Down 5.4% – Should You Sell?

Artelo Biosciences, Inc. (NASDAQ:ARTL) dropped 5.4% on Wednesday. The stock traded as low as $2.20 and last traded at $2.27. 8,474 shares traded hands during mid-day trading, a decline of 78% from the average daily volume of 37,759 shares. The stock had previously closed at $2.40.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Artelo Biosciences in a research report on Monday, September 21st. One analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Artelo Biosciences presently has an average rating of “Reduce”.

Artelo Biosciences Trading Down 9.9%

The business’s fifty day moving average price is $3.88 and its 200 day moving average price is $20.84.

Artelo Biosciences (NASDAQ:ARTL) last posted its earnings results on Wednesday, August 12th. The company reported ($0.89) earnings per share for the quarter, beating analysts’ consensus estimates of ($6.48) by $5.59.

Artelo Biosciences Company Profile

Artelo Biosciences, Inc is a clinical-stage biopharmaceutical company focused on developing therapeutics that target the endocannabinoid system, a biological signaling network involved in areas such as pain, appetite, inflammation and cancer. The company’s programs are designed to address unmet medical needs in oncology and other therapeutic areas.

Artelo’s development pipeline has included ART27.13, a peripherally restricted cannabinoid receptor type 1 agonist being investigated for cancer-related anorexia and cachexia.