Short Interest in Artelo Biosciences, Inc. (NASDAQ:ARTL) Decreases By 26.8%

Artelo Biosciences, Inc. (NASDAQ:ARTL) saw a large drop in short interest in the month of October. As of October 31st, there was short interest totalling 19,900 shares, a drop of 26.8% from the October 15th total of 27,200 shares. Based on an average daily trading volume, of 11,100 shares, the days-to-cover ratio is currently 1.8 days. Currently, 0.6% of the company’s shares are short sold.

Artelo Biosciences Trading Down 2.8 %

NASDAQ ARTL opened at $1.05 on Friday. The company has a market cap of $3.39 million, a P/E ratio of -0.37 and a beta of 1.35. The company has a fifty day simple moving average of $1.15 and a 200 day simple moving average of $1.27. Artelo Biosciences has a 12-month low of $1.00 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, beating analysts’ consensus estimates of ($0.41) by $0.06. Sell-side analysts predict that Artelo Biosciences will post -2.41 EPS for the current year.

Analysts Set New Price Targets

ARTL has been the topic of several research analyst reports. EF Hutton Acquisition Co. I raised shares of Artelo Biosciences to a “strong-buy” rating in a research note on Tuesday, October 1st. HC Wainwright reaffirmed a “buy” rating and set a $5.00 price target on shares of Artelo Biosciences in a research note on Wednesday.

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.