Artelo Biosciences, Inc. (NASDAQ:ARTL) Short Interest Update

Artelo Biosciences, Inc. (NASDAQ:ARTL) saw a significant drop in short interest in the month of December. As of December 31st, there was short interest totaling 48,967 shares, a drop of 73.7% from the December 15th total of 185,968 shares. Approximately 2.7% of the company’s shares are sold short. Based on an average daily trading volume, of 76,858 shares, the days-to-cover ratio is presently 0.6 days. Based on an average daily trading volume, of 76,858 shares, the days-to-cover ratio is presently 0.6 days. Approximately 2.7% of the company’s shares are sold short.

Artelo Biosciences Stock Up 6.6%

Shares of ARTL opened at $1.61 on Thursday. The company has a market cap of $3.25 million, a P/E ratio of -0.08 and a beta of 1.04. Artelo Biosciences has a fifty-two week low of $1.15 and a fifty-two week high of $28.60. The firm’s 50 day moving average price is $1.68 and its 200 day moving average price is $6.08.

Artelo Biosciences (NASDAQ:ARTL) last issued its quarterly earnings results on Wednesday, November 12th. The company reported ($3.97) EPS for the quarter, missing the consensus estimate of ($0.82) by ($3.15). Research analysts forecast that Artelo Biosciences will post -2.62 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on ARTL. Weiss Ratings reiterated a “sell (e+)” rating on shares of Artelo Biosciences in a report on Monday, December 29th. Maxim Group reaffirmed a “hold” rating on shares of Artelo Biosciences in a research note on Wednesday, November 19th. One research analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Artelo Biosciences has a consensus rating of “Hold” and a consensus target price of $24.00.

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.