Artelo Biosciences, Inc. (NASDAQ:ARTL) Sees Significant Growth in Short Interest

Artelo Biosciences, Inc. (NASDAQ:ARTL) was the target of a significant increase in short interest in January. As of January 15th, there was short interest totaling 124,020 shares, an increase of 153.3% from the December 31st total of 48,967 shares. Currently, 6.9% of the shares of the stock are sold short. Based on an average daily volume of 135,794 shares, the short-interest ratio is presently 0.9 days. Based on an average daily volume of 135,794 shares, the short-interest ratio is presently 0.9 days. Currently, 6.9% of the shares of the stock are sold short.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on ARTL. Maxim Group restated a “hold” rating on shares of Artelo Biosciences in a report on Wednesday, November 19th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Artelo Biosciences in a research note on Monday, December 29th. One equities research analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $24.00.

Artelo Biosciences Trading Down 0.5%

Shares of ARTL opened at $1.81 on Thursday. Artelo Biosciences has a 12 month low of $1.15 and a 12 month high of $28.60. The stock’s 50-day moving average price is $1.64 and its two-hundred day moving average price is $5.09. The company has a market capitalization of $3.66 million, a PE ratio of -0.09 and a beta of 1.04.

Artelo Biosciences (NASDAQ:ARTL) last issued its earnings results on Wednesday, November 12th. The company reported ($3.97) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.82) by ($3.15). Equities research analysts predict that Artelo Biosciences will post -2.62 EPS for the current fiscal year.

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.