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

Artelo Biosciences, Inc. (NASDAQ:ARTL) saw a large drop in short interest during the month of January. As of January 15th, there was short interest totalling 18,600 shares, a drop of 42.2% from the December 31st total of 32,200 shares. Approximately 0.6% of the shares of the stock are sold short. Based on an average daily volume of 31,600 shares, the short-interest ratio is presently 0.6 days.

Analysts Set New Price Targets

ARTL has been the topic of several recent analyst reports. HC Wainwright reiterated a “buy” rating and issued a $5.00 price target on shares of Artelo Biosciences in a research note on Monday, December 9th. LADENBURG THALM/SH SH upgraded Artelo Biosciences to a “strong-buy” rating in a research note on Wednesday, December 25th. Finally, D. Boral Capital reiterated a “buy” rating and issued a $6.00 price target on shares of Artelo Biosciences in a research note on Tuesday, January 14th.

Artelo Biosciences Price Performance

ARTL stock traded up $0.04 during midday trading on Friday, reaching $1.21. 5,284 shares of the stock were exchanged, compared to its average volume of 20,729. The stock has a market capitalization of $3.89 million, a PE ratio of -0.42 and a beta of 1.25. Artelo Biosciences has a 52 week low of $0.91 and a 52 week high of $1.75. The company has a fifty day moving average price of $1.10 and a 200 day moving average price of $1.18.

Artelo Biosciences (NASDAQ:ARTL) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($0.35) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.41) by $0.06. As a group, analysts anticipate that Artelo Biosciences will post -1.99 earnings per share for the current fiscal year.

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.