Short Interest in Artelo Biosciences, Inc. (NASDAQ:ARTL) Drops By 36.9%

Artelo Biosciences, Inc. (NASDAQ:ARTL) was the target of a large drop in short interest in August. As of August 14th, there was short interest totaling 85,320 shares, a drop of 36.9% from the July 30th total of 135,122 shares. Based on an average daily volume of 159,571 shares, the short-interest ratio is currently 0.5 days. Approximately 1.9% of the shares of the stock are short sold.

Analyst Upgrades and Downgrades

Several analysts have commented on ARTL shares. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Artelo Biosciences in a research note on Wednesday, June 24th. Wall Street Zen upgraded Artelo Biosciences from a “strong sell” rating to a “sell” rating in a report on Saturday, May 16th. Two investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Artelo Biosciences currently has an average rating of “Reduce”.

Artelo Biosciences Price Performance

Shares of ARTL stock opened at $6.16 on Wednesday. The company’s fifty day moving average price is $8.14 and its two-hundred day moving average price is $24.15. The firm has a market capitalization of $3.39 million, a P/E ratio of -0.37 and a beta of -0.07. Artelo Biosciences has a 12 month low of $4.68 and a 12 month high of $249.75.

Artelo Biosciences (NASDAQ:ARTL) last announced its earnings results on Wednesday, August 12th. The company reported ($8.01) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($6.48) by ($1.53).

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.