Artelo Biosciences, Inc. (NASDAQ:ARTL) Short Interest Update

Artelo Biosciences, Inc. (NASDAQ:ARTL) was the target of a significant growth in short interest during the month of May. As of May 29th, there was short interest totaling 218,904 shares, a growth of 478.3% from the May 14th total of 37,850 shares. Based on an average daily trading volume, of 5,443,245 shares, the short-interest ratio is currently 0.0 days. Approximately 10.6% of the company’s shares are sold short.

Artelo Biosciences Stock Performance

ARTL opened at $1.33 on Wednesday. Artelo Biosciences has a 1-year low of $1.19 and a 1-year high of $85.80. The company has a market cap of $3.10 million, a P/E ratio of -0.04 and a beta of -0.13. The company has a fifty day moving average price of $3.56 and a two-hundred day moving average price of $4.33.

Artelo Biosciences (NASDAQ:ARTL) last posted its quarterly earnings results on Thursday, May 14th. The company reported ($4.00) earnings per share for the quarter, missing the consensus estimate of ($0.78) by ($3.22).

Analysts Set New Price Targets

A number of equities analysts recently weighed in on ARTL shares. Wall Street Zen raised shares of Artelo Biosciences from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 16th. Weiss Ratings reissued a “sell (e+)” rating on shares of Artelo Biosciences in a research note on Friday, March 27th. Two investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Reduce” and a consensus price target of $54.00.

Artelo Biosciences Company Profile

Artelo Biosciences, Inc is a clinical-stage biopharmaceutical company focused on the development of novel small-molecule therapies for pain, inflammation, ocular and cardiometabolic disorders. The company leverages a proprietary drug delivery and targeting platform designed to enhance the safety and efficacy profiles of well-characterized active pharmaceutical ingredients. Artelo’s approach is centered on repurposing and optimizing therapeutic molecules to address significant unmet medical needs, with particular emphasis on improving patient tolerability and clinical outcomes.

The company’s lead program, AB101, is an orally bioavailable ion channel modulator in development for neuropathic pain conditions including post-herpetic neuralgia.