Artelo Biosciences, Inc. (NASDAQ:ARTL) Sees Large Increase in Short Interest

Artelo Biosciences, Inc. (NASDAQ:ARTL) was the recipient of a significant growth in short interest during the month of November. As of November 30th, there was short interest totalling 32,900 shares, a growth of 51.6% from the November 15th total of 21,700 shares. Based on an average trading volume of 25,200 shares, the short-interest ratio is presently 1.3 days. Currently, 1.0% of the shares of the company are short sold.

Artelo Biosciences Trading Up 0.9 %

ARTL stock traded up $0.01 during mid-day trading on Friday, hitting $1.11. 19,589 shares of the company were exchanged, compared to its average volume of 35,183. The business has a 50 day simple moving average of $1.14 and a 200-day simple moving average of $1.24. The stock has a market capitalization of $3.58 million, a PE ratio of -0.39 and a beta of 1.29. Artelo Biosciences has a 1-year low of $1.00 and a 1-year high of $1.75.

Artelo Biosciences (NASDAQ:ARTL) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($0.35) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.41) by $0.06. Equities research analysts expect that Artelo Biosciences will post -2.62 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages have issued reports on ARTL. EF Hutton Acquisition Co. I upgraded shares of Artelo Biosciences to a “strong-buy” rating in a research report on Tuesday, October 1st. D. Boral Capital restated a “buy” rating and set a $6.00 price objective on shares of Artelo Biosciences in a research report on Monday. Finally, HC Wainwright restated a “buy” rating and set a $5.00 price objective on shares of Artelo Biosciences in a research report on Monday.

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.