Artelo Biosciences, Inc. (NASDAQ:ARTL) Short Interest Up 22.8% in August

Artelo Biosciences, Inc. (NASDAQ:ARTL) was the recipient of a large increase in short interest during the month of August. As of August 31st, there was short interest totalling 45,800 shares, an increase of 22.8% from the August 15th total of 37,300 shares. Based on an average daily trading volume, of 79,300 shares, the short-interest ratio is currently 0.6 days. Approximately 1.4% of the shares of the company are sold short.

Artelo Biosciences Trading Up 3.4 %

Shares of NASDAQ ARTL traded up $0.04 during midday trading on Monday, reaching $1.22. 4,900 shares of the stock were exchanged, compared to its average volume of 38,307. The stock has a 50 day moving average price of $1.30 and a 200-day moving average price of $1.37. The company has a market capitalization of $3.94 million, a P/E ratio of -0.39 and a beta of 1.37. Artelo Biosciences has a 52-week low of $1.00 and a 52-week high of $1.78.

Artelo Biosciences (NASDAQ:ARTL) last issued its earnings results 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. On average, analysts forecast that Artelo Biosciences will post -2.41 earnings per share for the current year.

Wall Street Analyst Weigh In

Separately, HC Wainwright reiterated a “buy” rating and issued a $5.00 price target on shares of Artelo Biosciences in a report on Wednesday, August 14th.

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.