Artelo Biosciences (NASDAQ:ARTL) Shares Set to Reverse Split on Monday, August 31st

Shares of Artelo Biosciences, Inc. (NASDAQ:ARTL) are scheduled to reverse split on the morning of Monday, August 31st. The 1-9 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the closing bell on Sunday, August 30th.

Artelo Biosciences Trading Down 7.0%

NASDAQ ARTL traded down $0.05 during trading on Thursday, hitting $0.66. 832,187 shares of the company’s stock were exchanged, compared to its average volume of 1,790,727. The company has a market cap of $3.04 million, a PE ratio of -0.04 and a beta of -0.07. Artelo Biosciences has a fifty-two week low of $0.52 and a fifty-two week high of $28.14. The stock’s 50 day moving average price is $0.94 and its two-hundred day moving average price is $2.76.

Artelo Biosciences (NASDAQ:ARTL) last announced its quarterly earnings results on Wednesday, August 12th. The company reported ($0.89) EPS for the quarter, missing analysts’ consensus estimates of ($0.72) by ($0.17).

Wall Street Analyst Weigh In

Several equities analysts have issued reports 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 reaffirmed a “sell (e+)” rating on shares of Artelo Biosciences in a research report on Wednesday, June 24th. Two research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Reduce”.

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.