Artelo Biosciences, Inc. (NASDAQ:ARTL) Stock Short Interest Climbs 104.7%

Artelo Biosciences, Inc. (NASDAQ:ARTL) was the recipient of a significant increase in short interest during the month of September. As of September 30th, there was short interest totaling 46,160 shares, an increase of 104.7% from the September 15th total of 22,550 shares. Currently, 8.7% of the shares of the company are short sold. Based on an average trading volume of 2,494,370 shares, the days-to-cover ratio is currently 0.0 days.

Analyst Ratings Changes

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

Artelo Biosciences Stock Performance

Shares of ARTL opened at $2.98 on Wednesday. The stock’s fifty day moving average price is $5.35 and its two-hundred day moving average price is $16.81. Artelo Biosciences has a 1 year low of $2.92 and a 1 year high of $179.19.

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

About Artelo Biosciences

Artelo Biosciences, Inc is a clinical-stage biopharmaceutical company focused on developing therapeutics that target the endocannabinoid system. The company is pursuing treatments for cancer, pain, inflammation and other conditions in which cannabinoid receptors and related biological pathways may play a role.

Artelo’s development pipeline has included ART12.11, a proprietary cannabidiol-based pharmaceutical composition being investigated for potential use in oncology, and ART26.12, a fatty acid amide hydrolase inhibitor designed for potential applications in cancer-related pain and inflammatory disorders.