Artelo Biosciences (NASDAQ:ARTL) Trading Down 6.1% – What’s Next?

Artelo Biosciences, Inc. (NASDAQ:ARTL)’s share price traded down 6.1% during trading on Monday . The company traded as low as $1.22 and last traded at $1.24. 20,393 shares were traded during mid-day trading, a decline of 34% from the average session volume of 31,106 shares. The stock had previously closed at $1.32.

Analysts Set New Price Targets

ARTL has been the subject of a number of research analyst reports. Maxim Group reissued a “hold” rating on shares of Artelo Biosciences in a research report on Wednesday, November 19th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Artelo Biosciences in a research report on Monday, December 29th. One research analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Artelo Biosciences presently has an average rating of “Hold” and an average target price of $24.00.

Artelo Biosciences Stock Performance

The firm has a fifty day simple moving average of $1.50 and a 200-day simple moving average of $3.54. The company has a market capitalization of $2.50 million, a PE ratio of -0.06 and a beta of 1.12.

Artelo Biosciences Company Profile

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.