Artelo Biosciences, Inc. (NASDAQ:ARTL – Get Free Report) was the recipient of a significant decrease in short interest in the month of April. As of April 30th, there was short interest totaling 62,523 shares, a decrease of 75.1% from the April 15th total of 250,964 shares. Currently, 7.5% of the shares of the company are sold short. Based on an average daily volume of 3,024,082 shares, the days-to-cover ratio is currently 0.0 days.
Artelo Biosciences Stock Up 2.3%
NASDAQ ARTL traded up $0.05 during trading on Thursday, hitting $2.36. The company’s stock had a trading volume of 23,098 shares, compared to its average volume of 2,318,006. Artelo Biosciences has a 52 week low of $2.30 and a 52 week high of $85.80. The firm has a market cap of $2.22 million, a P/E ratio of -0.04 and a beta of 0.05. The firm has a 50 day moving average price of $4.94 and a 200 day moving average price of $5.10.
Wall Street Analysts Forecast Growth
A number of equities analysts have recently commented on ARTL shares. Weiss Ratings reissued a “sell (e+)” rating on shares of Artelo Biosciences in a research report on Friday, March 27th. Wall Street Zen downgraded shares of Artelo Biosciences to a “strong sell” rating in a report on Saturday, April 25th. Two investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Reduce” and a consensus target price of $54.00.
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.
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