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

Artelo Biosciences, Inc. (NASDAQ:ARTL) was the target of a large drop in short interest during the month of January. As of January 31st, there was short interest totalling 8,600 shares, a drop of 41.1% from the January 15th total of 14,600 shares. Approximately 0.3% of the company’s shares are short sold. Based on an average trading volume of 35,300 shares, the days-to-cover ratio is currently 0.2 days.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on ARTL shares. D. Boral Capital reaffirmed a “buy” rating and issued a $6.00 target price on shares of Artelo Biosciences in a research note on Tuesday, January 14th. LADENBURG THALM/SH SH raised Artelo Biosciences to a “strong-buy” rating in a research report on Wednesday, December 25th. Finally, HC Wainwright reissued a “buy” rating and set a $5.00 price objective on shares of Artelo Biosciences in a research report on Monday, December 9th.

Artelo Biosciences Trading Down 1.8 %

Shares of NASDAQ:ARTL opened at $1.37 on Thursday. The business has a 50-day moving average price of $1.14 and a 200 day moving average price of $1.17. The company has a market capitalization of $4.43 million, a price-to-earnings ratio of -0.48 and a beta of 1.25. Artelo Biosciences has a 12-month low of $0.91 and a 12-month high of $1.75.

Artelo Biosciences (NASDAQ:ARTL) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($0.35) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.41) by $0.06. As a group, equities research analysts predict that Artelo Biosciences will post -2.62 earnings per share for the current fiscal year.

About Artelo Biosciences

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.