Short Interest in Artelo Biosciences, Inc. (NASDAQ:ARTL) Declines By 8.3%

Artelo Biosciences, Inc. (NASDAQ:ARTL) saw a significant decline in short interest during the month of September. As of September 30th, there was short interest totalling 33,300 shares, a decline of 8.3% from the September 15th total of 36,300 shares. Based on an average trading volume of 78,200 shares, the days-to-cover ratio is currently 0.4 days. Approximately 1.0% of the company’s stock are sold short.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. EF Hutton Acquisition Co. I upgraded shares of 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

Shares of NASDAQ ARTL opened at $1.25 on Thursday. The stock has a fifty day moving average price of $1.20 and a 200 day moving average price of $1.31. Artelo Biosciences has a 1-year low of $1.00 and a 1-year high of $1.75. The company has a market cap of $4.03 million, a PE ratio of -0.41 and a beta of 1.36.

Artelo Biosciences (NASDAQ:ARTL) last released its earnings results on Tuesday, August 13th. The company reported ($0.75) EPS for the quarter, topping the consensus estimate of ($0.85) by $0.10. Analysts anticipate that Artelo Biosciences will post -2.41 earnings per share for the current fiscal 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.