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

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

Artelo Biosciences Trading Down 7.0%

Shares of Artelo Biosciences stock traded down $0.05 during midday trading on Thursday, reaching $0.66. The company had a trading volume of 832,187 shares, compared to its average volume of 1,790,727. Artelo Biosciences has a 1-year low of $0.52 and a 1-year high of $28.14. The company has a market capitalization of $3.04 million, a price-to-earnings ratio of -0.04 and a beta of -0.07. The stock has a fifty day simple moving average of $0.94 and a 200 day simple moving average of $2.76.

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

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Wall Street Zen upgraded shares of Artelo Biosciences from a “strong sell” rating to a “sell” rating in a report on Saturday, May 16th. Weiss Ratings reissued a “sell (e+)” rating on shares of Artelo Biosciences in a research report on Wednesday, June 24th. Two investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Artelo Biosciences has a consensus rating of “Reduce”.

About Artelo Biosciences

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.