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

Artelo Biosciences, Inc. (NASDAQ:ARTL) saw a significant 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 short-interest ratio is presently 0.5 days. Based on an average daily volume of 125,800 shares, the short-interest ratio is presently 0.5 days. Currently, 6.6% of the shares of the company are short sold.

Wall Street Analyst Weigh In

A number of equities analysts have commented on ARTL shares. D Boral Capital lowered Artelo Biosciences from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 8th. Weiss Ratings restated a “sell (d-)” rating on shares of Artelo Biosciences in a research note on Wednesday, October 8th. D. Boral Capital restated a “hold” rating on shares of Artelo Biosciences in a research note on Monday, September 8th. Finally, Wall Street Zen lowered Artelo Biosciences to a “strong sell” rating in a research note on Saturday, August 9th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $24.00.

Artelo Biosciences Stock Performance

Shares of ARTL stock opened at $3.38 on Thursday. The stock’s fifty day moving average price is $6.17 and its two-hundred day moving average price is $7.81. The company has a market cap of $2.37 million, a PE ratio of -0.18 and a beta of 1.41. Artelo Biosciences has a fifty-two week low of $3.15 and a fifty-two week high of $28.60.

Artelo Biosciences (NASDAQ:ARTL) last issued its earnings results on Wednesday, August 13th. The company reported ($5.61) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.13) by ($5.48). On average, equities analysts predict that Artelo Biosciences will post -2.62 EPS for the current fiscal year.

Artelo Biosciences Company Profile

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.