Short Interest in Artelo Biosciences, Inc. (NASDAQ:ARTL) Declines By 18.3%

Artelo Biosciences, Inc. (NASDAQ:ARTL) saw a large decrease in short interest in October. As of October 15th, there was short interest totalling 27,200 shares, a decrease of 18.3% from the September 30th total of 33,300 shares. Currently, 0.9% of the shares of the stock are sold short. Based on an average daily trading volume, of 9,200 shares, the days-to-cover ratio is currently 3.0 days.

Analyst Upgrades and Downgrades

Several research firms have issued reports on ARTL. EF Hutton Acquisition Co. I upgraded Artelo Biosciences to a “strong-buy” rating in a research note on Tuesday, October 1st. HC Wainwright reissued a “buy” rating and set a $5.00 price target on shares of Artelo Biosciences in a report on Wednesday, August 14th.

Artelo Biosciences Price Performance

NASDAQ ARTL opened at $1.14 on Tuesday. The stock’s 50 day simple moving average is $1.18 and its 200 day simple moving average is $1.29. Artelo Biosciences has a one year low of $1.00 and a one year high of $1.75. The firm has a market cap of $3.68 million, a PE ratio of -0.36 and a beta of 1.36.

Artelo Biosciences (NASDAQ:ARTL) last posted its quarterly earnings data on Tuesday, August 13th. The company reported ($0.75) earnings per share for the quarter, topping the consensus estimate of ($0.85) by $0.10. As a group, equities analysts expect that Artelo Biosciences will post -2.41 earnings per share 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.