Artelo Biosciences, Inc. (NASDAQ:ARTL) Short Interest Update

Artelo Biosciences, Inc. (NASDAQ:ARTL) saw a significant decline in short interest in May. As of May 15th, there was short interest totaling 37,850 shares, a decline of 39.5% from the April 30th total of 62,523 shares. Currently, 1.8% of the company’s stock are sold short. Based on an average daily trading volume, of 871,254 shares, the short-interest ratio is presently 0.0 days.

Artelo Biosciences Trading Down 2.1%

Shares of ARTL stock opened at $1.43 on Friday. The business’s fifty day simple moving average is $3.85 and its 200-day simple moving average is $4.42. The company has a market cap of $3.33 million, a PE ratio of -0.04 and a beta of -0.13. Artelo Biosciences has a 12-month low of $1.19 and a 12-month high of $85.80.

Artelo Biosciences (NASDAQ:ARTL) last issued its quarterly earnings results on Thursday, May 14th. The company reported ($4.00) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.78) by ($3.22).

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on ARTL. Wall Street Zen raised shares of Artelo Biosciences from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 16th. Weiss Ratings reissued a “sell (e+)” rating on shares of Artelo Biosciences in a research note on Friday, March 27th. Two analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Artelo Biosciences currently has a consensus rating of “Reduce” and a consensus price target of $54.00.

About Artelo Biosciences

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.