Short Interest in Artelo Biosciences, Inc. (NASDAQ:ARTL) Declines By 27.1%

Artelo Biosciences, Inc. (NASDAQ:ARTL) was the recipient of a significant drop in short interest during the month of October. As of October 15th, there was short interest totaling 48,600 shares, a drop of 27.1% from the September 30th total of 66,700 shares. Based on an average daily trading volume, of 109,700 shares, the short-interest ratio is presently 0.4 days. Currently, 4.3% of the company’s shares are sold short. Currently, 4.3% of the company’s shares are sold short. Based on an average daily trading volume, of 109,700 shares, the short-interest ratio is presently 0.4 days.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on ARTL. D. Boral Capital restated a “hold” rating on shares of Artelo Biosciences in a report on Monday, September 8th. Wall Street Zen cut Artelo Biosciences to a “strong sell” rating in a report on Saturday, August 9th. D Boral Capital cut Artelo Biosciences from a “strong-buy” rating to a “hold” rating in a report on Monday, September 8th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Artelo Biosciences in a report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $24.00.

Artelo Biosciences Trading Down 2.9%

Shares of NASDAQ:ARTL traded down $0.09 during trading on Monday, hitting $3.01. 12,758 shares of the company’s stock traded hands, compared to its average volume of 242,232. Artelo Biosciences has a 52 week low of $3.00 and a 52 week high of $28.60. The company has a market cap of $2.11 million, a price-to-earnings ratio of -0.16 and a beta of 1.24. The company has a 50-day moving average price of $5.27 and a 200-day moving average price of $7.75.

Artelo Biosciences (NASDAQ:ARTL) last released its quarterly earnings results on Wednesday, August 13th. The company reported ($5.61) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.13) by ($5.48). On average, analysts predict that Artelo Biosciences will post -2.62 earnings per share for the current fiscal year.

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.