Short Interest in Artelo Biosciences, Inc. (NASDAQ:ARTL) Drops By 39.5%

Artelo Biosciences, Inc. (NASDAQ:ARTL) was the target of a large decline in short interest in the month of May. As of May 15th, there was short interest totaling 37,850 shares, a decline of 39.5% from the April 30th total of 62,523 shares. Currently, 1.8% of the shares of the company are short sold. Based on an average daily trading volume, of 871,254 shares, the short-interest ratio is presently 0.0 days.

Artelo Biosciences Price Performance

Artelo Biosciences stock traded down $0.09 during midday trading on Wednesday, hitting $1.36. The company’s stock had a trading volume of 47,411 shares, compared to its average volume of 2,600,425. Artelo Biosciences has a 1-year low of $1.19 and a 1-year high of $85.80. The company has a 50-day moving average price of $4.19 and a two-hundred day moving average price of $4.50. The company has a market cap of $3.17 million, a price-to-earnings ratio of -0.04 and a beta of -0.13.

Artelo Biosciences (NASDAQ:ARTL) last announced its quarterly earnings data on Thursday, May 14th. The company reported ($4.00) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.78) by ($3.22).

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. Weiss Ratings reiterated a “sell (e+)” rating on shares of Artelo Biosciences in a research note on Friday, March 27th. Wall Street Zen upgraded shares of Artelo Biosciences from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 16th. Two investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Artelo Biosciences currently has a consensus rating of “Reduce” and a consensus target price of $54.00.

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.