Artelo Biosciences, Inc. (NASDAQ:ARTL) Shares Shorted: Short Interest Up 104.7% in September

Artelo Biosciences, Inc. (NASDAQ:ARTL) was the target of a large increase in short interest in the month of September. As of September 30th, there was short interest totaling 46,160 shares, an increase of 104.7% from the September 15th total of 22,550 shares. Based on an average daily volume of 2,494,370 shares, the days-to-cover ratio is presently 0.0 days. Currently, 8.7% of the company’s stock are short sold.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Artelo Biosciences in a research note on Monday, September 21st. One analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Reduce”.

Artelo Biosciences Trading Down 2.8%

NASDAQ ARTL traded down $0.08 during trading hours on Thursday, hitting $2.80. The company’s stock had a trading volume of 2,012 shares, compared to its average volume of 313,366. Artelo Biosciences has a 52 week low of $2.77 and a 52 week high of $179.19. The company has a market capitalization of $1.53 million, a PE ratio of -0.02 and a beta of -0.07. The company’s 50-day simple moving average is $5.27 and its two-hundred day simple moving average is $16.63.

Artelo Biosciences (NASDAQ:ARTL) last released its quarterly earnings results on Wednesday, August 12th. The company reported ($0.89) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($6.48) by $5.59.

Artelo Biosciences Company Profile

Artelo Biosciences, Inc is a clinical-stage biopharmaceutical company focused on developing therapeutics that target the endocannabinoid system. The company is pursuing treatments for cancer, pain, inflammation and other conditions in which cannabinoid receptors and related biological pathways may play a role.

Artelo’s development pipeline has included ART12.11, a proprietary cannabidiol-based pharmaceutical composition being investigated for potential use in oncology, and ART26.12, a fatty acid amide hydrolase inhibitor designed for potential applications in cancer-related pain and inflammatory disorders.