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

Artelo Biosciences, Inc. (NASDAQ:ARTL) was the target of a significant decline in short interest during the month of December. As of December 31st, there was short interest totaling 48,967 shares, a decline of 73.7% from the December 15th total of 185,968 shares. Based on an average daily volume of 76,858 shares, the days-to-cover ratio is presently 0.6 days. Approximately 2.7% of the company’s stock are short sold. Approximately 2.7% of the company’s stock are short sold. Based on an average daily volume of 76,858 shares, the days-to-cover ratio is presently 0.6 days.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on ARTL shares. Weiss Ratings reissued a “sell (e+)” rating on shares of Artelo Biosciences in a research report on Monday, December 29th. Maxim Group reiterated a “hold” rating on shares of Artelo Biosciences in a report on Wednesday, November 19th. One analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $24.00.

Artelo Biosciences Stock Up 7.9%

Artelo Biosciences stock opened at $1.51 on Wednesday. The firm has a 50 day moving average price of $1.69 and a 200-day moving average price of $6.11. Artelo Biosciences has a twelve month low of $1.15 and a twelve month high of $28.60. The company has a market capitalization of $3.05 million, a P/E ratio of -0.07 and a beta of 1.04.

Artelo Biosciences (NASDAQ:ARTL) last posted its quarterly earnings data on Wednesday, November 12th. The company reported ($3.97) EPS for the quarter, missing the consensus estimate of ($0.82) by ($3.15). Equities analysts expect that Artelo Biosciences will post -2.62 EPS for the current fiscal year.

About Artelo Biosciences

Artelo Biosciences, Inc is a clinical-stage biopharmaceutical company focused on the development of novel small-molecule therapies for pain, inflammation, ocular and cardiometabolic disorders. The company leverages a proprietary drug delivery and targeting platform designed to enhance the safety and efficacy profiles of well-characterized active pharmaceutical ingredients. Artelo’s approach is centered on repurposing and optimizing therapeutic molecules to address significant unmet medical needs, with particular emphasis on improving patient tolerability and clinical outcomes.

The company’s lead program, AB101, is an orally bioavailable ion channel modulator in development for neuropathic pain conditions including post-herpetic neuralgia.