Short Interest in Artelo Biosciences, Inc. (NASDAQ:ARTL) Drops By 42.2%

Artelo Biosciences, Inc. (NASDAQ:ARTL) was the target of a large decline in short interest in the month of January. As of January 15th, there was short interest totalling 18,600 shares, a decline of 42.2% from the December 31st total of 32,200 shares. Approximately 0.6% of the shares of the company are short sold. Based on an average daily trading volume, of 31,600 shares, the days-to-cover ratio is currently 0.6 days.

Wall Street Analyst Weigh In

ARTL has been the topic of several analyst reports. EF Hutton Acquisition Co. I raised Artelo Biosciences to a “strong-buy” rating in a report on Tuesday, October 1st. HC Wainwright reaffirmed a “buy” rating and set a $5.00 target price on shares of Artelo Biosciences in a report on Monday, December 9th. D. Boral Capital reiterated a “buy” rating and issued a $6.00 target price on shares of Artelo Biosciences in a research note on Tuesday, January 14th. Finally, LADENBURG THALM/SH SH upgraded shares of Artelo Biosciences to a “strong-buy” rating in a research report on Wednesday, December 25th.

Artelo Biosciences Trading Down 0.8 %

Shares of ARTL opened at $1.19 on Wednesday. The firm has a market cap of $3.84 million, a P/E ratio of -0.41 and a beta of 1.25. Artelo Biosciences has a 12 month low of $0.91 and a 12 month high of $1.75. The stock’s 50 day moving average is $1.10 and its two-hundred day moving average is $1.18.

Artelo Biosciences (NASDAQ:ARTL) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($0.35) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.41) by $0.06. Equities research analysts forecast that Artelo Biosciences will post -1.99 EPS for the current year.

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.