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

Artelo Biosciences, Inc. (NASDAQ:ARTL) saw a large decline in short interest in June. As of June 15th, there was short interest totaling 136,611 shares, a decline of 37.6% from the May 31st total of 218,904 shares. Based on an average daily volume of 333,325 shares, the short-interest ratio is presently 0.4 days. Currently, 6.1% of the shares of the stock are sold short.

Artelo Biosciences Stock Down 1.4%

ARTL traded down $0.01 during trading on Thursday, hitting $1.08. The company’s stock had a trading volume of 51,136 shares, compared to its average volume of 2,232,117. The firm’s 50 day moving average price is $1.92 and its two-hundred day moving average price is $3.87. Artelo Biosciences has a 12 month low of $1.03 and a 12 month high of $85.80. The stock has a market capitalization of $2.53 million, a price-to-earnings ratio of -0.03 and a beta of -0.11.

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

Analyst Ratings Changes

A number of equities research analysts recently issued reports on ARTL shares. Weiss Ratings reiterated a “sell (e+)” rating on shares of Artelo Biosciences in a research report on Wednesday, June 24th. Wall Street Zen upgraded shares of Artelo Biosciences from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 16th. Two equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Artelo Biosciences 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.