Artelo Biosciences (NASDAQ:ARTL) Shares Scheduled to Reverse Split on Monday, August 31st

Artelo Biosciences, Inc. (NASDAQ:ARTL) shares are set to reverse split on Monday, August 31st. The 1-9 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the closing bell on Sunday, August 30th.

Artelo Biosciences Stock Performance

Shares of NASDAQ ARTL traded down $0.05 during mid-day trading on Thursday, reaching $0.66. The company had a trading volume of 832,187 shares, compared to its average volume of 508,567. Artelo Biosciences has a one year low of $0.52 and a one year high of $28.14. The firm has a market cap of $3.04 million, a price-to-earnings ratio of -0.04 and a beta of -0.07. The business’s 50-day simple moving average is $0.94 and its 200 day simple moving average is $2.76.

Artelo Biosciences (NASDAQ:ARTL) last released its earnings results on Wednesday, August 12th. The company reported ($0.89) EPS for the quarter, missing the consensus estimate of ($0.72) by ($0.17).

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Weiss Ratings reiterated a “sell (e+)” rating on shares of Artelo Biosciences in a research note on Wednesday, June 24th. Wall Street Zen upgraded Artelo Biosciences from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 16th. Two analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Artelo Biosciences currently has an average rating of “Reduce”.

About Artelo Biosciences

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.