Artelo Biosciences, Inc. (NASDAQ:ARTL) Short Interest Up 64.3% in September

Artelo Biosciences, Inc. (NASDAQ:ARTL) was the recipient of a large increase in short interest in the month of September. As of September 30th, there was short interest totaling 66,700 shares, an increase of 64.3% from the September 15th total of 40,600 shares. Currently, 6.6% of the shares of the company are short sold. Based on an average daily volume of 125,800 shares, the days-to-cover ratio is currently 0.5 days. Based on an average daily volume of 125,800 shares, the days-to-cover ratio is currently 0.5 days. Currently, 6.6% of the shares of the company are short sold.

Analyst Ratings Changes

A number of research firms have weighed in on ARTL. D Boral Capital cut Artelo Biosciences from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 8th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Artelo Biosciences in a research report on Wednesday, October 8th. D. Boral Capital reaffirmed a “hold” rating on shares of Artelo Biosciences in a research report on Monday, September 8th. Finally, Wall Street Zen cut Artelo Biosciences to a “strong sell” rating in a research report on Saturday, August 9th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $24.00.

Artelo Biosciences Price Performance

ARTL opened at $3.45 on Wednesday. The business has a 50 day simple moving average of $6.30 and a 200-day simple moving average of $7.84. The stock has a market capitalization of $2.42 million, a P/E ratio of -0.18 and a beta of 1.41. Artelo Biosciences has a 12 month low of $3.37 and a 12 month high of $28.60.

Artelo Biosciences (NASDAQ:ARTL) last posted its quarterly earnings results on Wednesday, August 13th. The company reported ($5.61) EPS for the quarter, missing the consensus estimate of ($0.13) by ($5.48). Research analysts anticipate that Artelo Biosciences will post -2.62 EPS for the current year.

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.