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

Artelo Biosciences, Inc. (NASDAQ:ARTL) was the target of a large drop in short interest in the month of February. As of February 28th, there was short interest totalling 1,200 shares, a drop of 91.0% from the February 13th total of 13,400 shares. Currently, 0.0% of the company’s shares are sold short. Based on an average trading volume of 33,700 shares, the short-interest ratio is currently 0.0 days.

Artelo Biosciences Stock Performance

Shares of NASDAQ:ARTL traded down $0.03 during midday trading on Wednesday, hitting $0.95. 14,511 shares of the stock were exchanged, compared to its average volume of 37,175. The stock has a market capitalization of $3.10 million, a price-to-earnings ratio of -0.33 and a beta of 1.06. The business’s 50-day moving average price is $1.16 and its 200 day moving average price is $1.14. Artelo Biosciences has a 12 month low of $0.91 and a 12 month high of $1.70.

Artelo Biosciences (NASDAQ:ARTL) last released its quarterly earnings results on Monday, March 3rd. The company reported ($1.17) earnings per share for the quarter, missing the consensus estimate of ($0.74) by ($0.43). As a group, sell-side analysts expect that Artelo Biosciences will post -2.62 EPS for the current year.

Analyst Ratings Changes

Several equities analysts have recently weighed in on ARTL shares. LADENBURG THALM/SH SH raised shares of Artelo Biosciences to a “strong-buy” rating in a research note on Wednesday, December 25th. HC Wainwright reissued a “buy” rating and issued a $5.00 target price on shares of Artelo Biosciences in a research note on Tuesday, March 4th. Finally, D. Boral Capital reissued a “buy” rating and issued a $6.00 target price on shares of Artelo Biosciences in a research note on Thursday, February 27th.

Artelo Biosciences Company Profile

Artelo Biosciences, Inc, a clinical stage biopharmaceutical company, develops and commercializes therapeutics that target lipid-signaling pathways in the United States. It's product candidate pipeline includes ART27.13, a synthetic dual cannabinoid G protein-coupled receptor agonist, which is in Phase 1b/2a clinical trial for the treatment of anorexia associated with cancer; ART12.11, a synthetic cannabidiol cocrystal for the treatment anxiety, post-traumatic stress disorder, epilepsy, inflammatory bowel disease, and other potential indications; and ART26.12, a fatty acid binding protein 5 inhibitor for treating chemotherapy induced peripheral neuropathy, diabetic neuropathy, prostate cancer and breast cancer, pain, dermatologic conditions, and anxiety disorders.