Short Interest in Artelo Biosciences, Inc. (NASDAQ:ARTL) Declines By 75.1%

Artelo Biosciences, Inc. (NASDAQ:ARTL) was the recipient of a large decrease in short interest in April. As of April 30th, there was short interest totaling 62,523 shares, a decrease of 75.1% from the April 15th total of 250,964 shares. Based on an average daily volume of 3,024,082 shares, the short-interest ratio is presently 0.0 days. Approximately 7.5% of the company’s stock are short sold.

Artelo Biosciences Price Performance

NASDAQ ARTL traded down $0.06 during trading hours on Wednesday, hitting $2.34. The company had a trading volume of 52,262 shares, compared to its average volume of 2,343,251. Artelo Biosciences has a fifty-two week low of $2.30 and a fifty-two week high of $85.80. The company has a market capitalization of $2.20 million, a price-to-earnings ratio of -0.04 and a beta of 0.05. The firm’s 50 day moving average is $4.96 and its 200 day moving average is $5.16.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Wall Street Zen downgraded Artelo Biosciences to a “strong sell” rating in a report on Saturday, April 25th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Artelo Biosciences in a report on Friday, March 27th. Two equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average 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.