Short Interest in Artelo Biosciences, Inc. (NASDAQ:ARTL) Decreases By 42.2%

Artelo Biosciences, Inc. (NASDAQ:ARTL) saw a large decrease in short interest in the month of December. As of December 31st, there was short interest totalling 18,600 shares, a decrease of 42.2% from the December 15th total of 32,200 shares. Approximately 0.6% of the shares of the company are short sold. Based on an average daily trading volume, of 31,600 shares, the days-to-cover ratio is currently 0.6 days.

Artelo Biosciences Price Performance

NASDAQ ARTL traded up $0.02 on Wednesday, hitting $1.16. The company had a trading volume of 13,430 shares, compared to its average volume of 32,784. The company’s fifty day moving average price is $1.09 and its 200-day moving average price is $1.19. The company has a market capitalization of $3.73 million, a PE ratio of -0.40 and a beta of 1.25. Artelo Biosciences has a 12-month low of $0.91 and a 12-month high of $1.75.

Artelo Biosciences (NASDAQ:ARTL) last released its earnings results on Tuesday, November 12th. The company reported ($0.35) EPS for the quarter, topping analysts’ consensus estimates of ($0.41) by $0.06. On average, sell-side analysts anticipate that Artelo Biosciences will post -2.62 EPS for the current year.

Wall Street Analysts Forecast Growth

ARTL has been the topic of several recent research reports. D. Boral Capital reaffirmed a “buy” rating and issued a $6.00 price objective on shares of Artelo Biosciences in a report on Tuesday. LADENBURG THALM/SH SH raised Artelo Biosciences to a “strong-buy” rating in a research report on Wednesday, December 25th. EF Hutton Acquisition Co. I upgraded Artelo Biosciences to a “strong-buy” rating in a research note on Tuesday, October 1st. Finally, HC Wainwright restated a “buy” rating and issued a $5.00 target price on shares of Artelo Biosciences in a research note on Monday, December 9th.

About Artelo Biosciences

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.