Artelo Biosciences, Inc. (NASDAQ:ARTL) Short Interest Up 478.3% in May

Artelo Biosciences, Inc. (NASDAQ:ARTL) was the recipient of a large increase in short interest in the month of May. As of May 29th, there was short interest totaling 218,904 shares, an increase of 478.3% from the May 14th total of 37,850 shares. Based on an average trading volume of 5,443,245 shares, the short-interest ratio is currently 0.0 days. Approximately 10.6% of the shares of the stock are sold short.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Wall Street Zen raised Artelo Biosciences from a “strong sell” rating to a “sell” rating in a report on Saturday, May 16th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Artelo Biosciences in a report on Friday, March 27th. Two research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Artelo Biosciences currently has a consensus rating of “Reduce” and a consensus target price of $54.00.

Artelo Biosciences Stock Down 0.4%

ARTL traded down $0.01 during midday trading on Thursday, hitting $1.30. 95,830 shares of the company were exchanged, compared to its average volume of 2,479,879. The firm has a market capitalization of $3.02 million, a P/E ratio of -0.04 and a beta of -0.13. Artelo Biosciences has a 1-year low of $1.19 and a 1-year high of $85.80. The firm’s 50 day moving average price is $3.41 and its 200-day moving average price is $4.30.

Artelo Biosciences (NASDAQ:ARTL) last announced its earnings results on Thursday, May 14th. The company reported ($4.00) EPS for the quarter, missing the consensus estimate of ($0.78) by ($3.22).

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.