Short Interest in Artelo Biosciences, Inc. (NASDAQ:ARTL) Rises By 55.8%

Artelo Biosciences, Inc. (NASDAQ:ARTL) was the target of a significant growth in short interest in the month of February. As of February 15th, there was short interest totalling 13,400 shares, a growth of 55.8% from the January 31st total of 8,600 shares. Based on an average trading volume of 33,900 shares, the days-to-cover ratio is currently 0.4 days. Approximately 0.4% of the shares of the stock are short sold.

Artelo Biosciences Stock Up 2.0 %

Shares of NASDAQ:ARTL traded up $0.02 during trading on Tuesday, reaching $1.02. The stock had a trading volume of 16,412 shares, compared to its average volume of 36,847. The firm has a market capitalization of $3.29 million, a price-to-earnings ratio of -0.36 and a beta of 1.25. Artelo Biosciences has a 52 week low of $0.91 and a 52 week high of $1.70. The stock has a fifty day simple moving average of $1.16 and a two-hundred day simple moving average of $1.16.

Artelo Biosciences (NASDAQ:ARTL) last posted its quarterly earnings data on Monday, March 3rd. The company reported ($1.17) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.74) by ($0.43). On average, analysts forecast that Artelo Biosciences will post -2.62 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on ARTL. HC Wainwright reissued a “buy” rating and issued a $5.00 price target on shares of Artelo Biosciences in a report on Tuesday. D. Boral Capital reissued a “buy” rating and issued a $6.00 price objective on shares of Artelo Biosciences in a research note on Thursday, February 27th. Finally, LADENBURG THALM/SH SH upgraded shares of Artelo Biosciences to a “strong-buy” rating in a report on Wednesday, December 25th.

About Artelo Biosciences

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.