Short Interest in Artelo Biosciences, Inc. (NASDAQ:ARTL) Decreases By 42.2%

Artelo Biosciences, Inc. (NASDAQ:ARTL) was the target of a significant drop in short interest in the month of December. As of December 31st, there was short interest totalling 18,600 shares, a drop of 42.2% from the December 15th total of 32,200 shares. Based on an average daily volume of 31,600 shares, the short-interest ratio is currently 0.6 days. Currently, 0.6% of the company’s shares are sold short.

Artelo Biosciences Stock Down 1.7 %

Shares of ARTL opened at $1.14 on Tuesday. The business’s 50-day moving average price is $1.10 and its 200-day moving average price is $1.19. Artelo Biosciences has a twelve month low of $0.91 and a twelve month high of $1.75. The stock has a market cap of $3.68 million, a PE ratio of -0.40 and a beta of 1.25.

Artelo Biosciences (NASDAQ:ARTL) last posted 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. Analysts expect that Artelo Biosciences will post -2.62 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on ARTL. LADENBURG THALM/SH SH raised shares of Artelo Biosciences to a “strong-buy” rating in a research report on Wednesday, December 25th. EF Hutton Acquisition Co. I upgraded Artelo Biosciences to a “strong-buy” rating in a research note on Tuesday, October 1st. D. Boral Capital reissued a “buy” rating and issued a $6.00 price objective on shares of Artelo Biosciences in a research report on Monday, December 9th. Finally, HC Wainwright restated a “buy” rating and set a $5.00 price target on shares of Artelo Biosciences in a research note on Monday, December 9th.

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.