Short Interest in Artelo Biosciences, Inc. (NASDAQ:ARTL) Expands By 82.6%

Artelo Biosciences, Inc. (NASDAQ:ARTL) saw a significant growth in short interest during the month of December. As of December 15th, there was short interest totaling 185,968 shares, a growth of 82.6% from the November 30th total of 101,848 shares. Based on an average daily volume of 2,280,304 shares, the days-to-cover ratio is currently 0.1 days. Currently, 10.4% of the shares of the company are short sold. Currently, 10.4% of the shares of the company are short sold. Based on an average daily volume of 2,280,304 shares, the days-to-cover ratio is currently 0.1 days.

Artelo Biosciences Stock Performance

NASDAQ ARTL opened at $1.49 on Monday. The business’s fifty day moving average is $2.14 and its 200 day moving average is $6.54. Artelo Biosciences has a fifty-two week low of $1.48 and a fifty-two week high of $28.60. The company has a market capitalization of $3.01 million, a PE ratio of -0.07 and a beta of 1.07.

Artelo Biosciences (NASDAQ:ARTL) last issued its quarterly earnings results on Wednesday, November 12th. The company reported ($3.97) EPS for the quarter, missing analysts’ consensus estimates of ($0.82) by ($3.15). On average, sell-side analysts forecast that Artelo Biosciences will post -2.62 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts have weighed in on ARTL shares. D Boral Capital lowered shares of Artelo Biosciences from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 8th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Artelo Biosciences in a report on Monday, December 22nd. Maxim Group reissued a “hold” rating on shares of Artelo Biosciences in a report on Wednesday, November 19th. Finally, D. Boral Capital reissued a “hold” rating on shares of Artelo Biosciences in a research report on Monday, September 8th. One analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $24.00.

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.