Artelo Biosciences, Inc. (NASDAQ:ARTL) Short Interest Up 51.6% in November

Artelo Biosciences, Inc. (NASDAQ:ARTL) was the recipient of a significant increase in short interest during the month of November. As of November 30th, there was short interest totalling 32,900 shares, an increase of 51.6% from the November 15th total of 21,700 shares. Based on an average daily trading volume, of 25,200 shares, the short-interest ratio is presently 1.3 days. Currently, 1.0% of the shares of the stock are short sold.

Artelo Biosciences Price Performance

Shares of NASDAQ:ARTL traded up $0.01 on Friday, hitting $1.11. 19,789 shares of the company’s stock were exchanged, compared to its average volume of 35,183. The stock has a market capitalization of $3.58 million, a price-to-earnings ratio of -0.39 and a beta of 1.29. The business’s 50 day simple moving average is $1.14 and its two-hundred day simple moving average is $1.23. Artelo Biosciences has a 12 month low of $1.00 and a 12 month high of $1.75.

Artelo Biosciences (NASDAQ:ARTL) last announced its quarterly earnings results on Tuesday, November 12th. The company reported ($0.35) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.41) by $0.06. Equities analysts forecast that Artelo Biosciences will post -2.62 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have commented on ARTL shares. D. Boral Capital reiterated a “buy” rating and issued a $6.00 price target on shares of Artelo Biosciences in a research note on Monday, December 9th. EF Hutton Acquisition Co. I upgraded Artelo Biosciences to a “strong-buy” rating in a report on Tuesday, October 1st. Finally, HC Wainwright reaffirmed a “buy” rating and set a $5.00 price objective on shares of Artelo Biosciences in a research note on Monday, December 9th.

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.