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

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

Artelo Biosciences Trading Down 4.2%

Shares of Artelo Biosciences stock opened at $2.98 on Wednesday. The business’s fifty day simple moving average is $5.35 and its 200 day simple moving average is $16.81. Artelo Biosciences has a 12 month low of $2.92 and a 12 month high of $179.19.

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

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Artelo Biosciences in a research report on Monday, September 21st. One investment analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Reduce”.

Artelo Biosciences Company Profile

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.