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

Artelo Biosciences, Inc. (NASDAQ:ARTL) was the recipient of a large drop in short interest during the month of February. As of February 13th, there was short interest totaling 53,039 shares, a drop of 52.0% from the January 29th total of 110,410 shares. Based on an average daily volume of 28,117 shares, the short-interest ratio is currently 1.9 days. Currently, 3.0% of the shares of the stock are sold short. Currently, 3.0% of the shares of the stock are sold short. Based on an average daily volume of 28,117 shares, the short-interest ratio is currently 1.9 days.

Analysts Set New Price Targets

Several research firms have weighed in on ARTL. Maxim Group restated a “hold” rating on shares of Artelo Biosciences in a research report on Wednesday, November 19th. Weiss Ratings reissued a “sell (e+)” rating on shares of Artelo Biosciences in a report on Monday, December 29th. One research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $24.00.

Artelo Biosciences Stock Performance

Shares of Artelo Biosciences stock opened at $1.19 on Friday. The firm has a fifty day moving average of $1.46 and a two-hundred day moving average of $3.36. The stock has a market capitalization of $2.52 million, a price-to-earnings ratio of -0.06 and a beta of 1.13. Artelo Biosciences has a 52 week low of $1.10 and a 52 week high of $28.60.

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.