Short Interest in Artelo Biosciences, Inc. (NASDAQ:ARTL) Declines By 75.1%

Artelo Biosciences, Inc. (NASDAQ:ARTL) saw a significant drop in short interest in April. As of April 30th, there was short interest totaling 62,523 shares, a drop of 75.1% from the April 15th total of 250,964 shares. Approximately 7.5% of the company’s stock are short sold. Based on an average trading volume of 3,024,082 shares, the short-interest ratio is currently 0.0 days.

Artelo Biosciences Trading Down 2.3%

Artelo Biosciences stock traded down $0.06 during midday trading on Wednesday, hitting $2.34. The stock had a trading volume of 52,262 shares, compared to its average volume of 2,343,251. The stock has a market cap of $2.20 million, a P/E ratio of -0.04 and a beta of 0.05. Artelo Biosciences has a 12 month low of $2.30 and a 12 month high of $85.80. The business has a fifty day moving average price of $4.96 and a 200 day moving average price of $5.16.

Analysts Set New Price Targets

Several brokerages have recently weighed in on ARTL. Wall Street Zen downgraded Artelo Biosciences to a “strong sell” rating in a research note on Saturday, April 25th. Weiss Ratings restated a “sell (e+)” rating on shares of Artelo Biosciences in a research note on Friday, March 27th. Two analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Reduce” and a consensus target price of $54.00.

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.