Short Interest in Artelo Biosciences, Inc. (NASDAQ:ARTL) Declines By 46.9%

Artelo Biosciences, Inc. (NASDAQ:ARTL) was the recipient of a large drop in short interest in the month of April. As of April 15th, there was short interest totaling 250,964 shares, a drop of 46.9% from the March 31st total of 472,907 shares. Based on an average trading volume of 491,703 shares, the days-to-cover ratio is presently 0.5 days. Currently, 30.2% of the shares of the company are sold short.

Analysts Set New Price Targets

ARTL has been the topic of several analyst reports. Wall Street Zen cut Artelo Biosciences to a “strong sell” rating in a research report on Saturday. Weiss Ratings restated a “sell (e+)” rating on shares of Artelo Biosciences in a research report on Friday, March 27th. Two equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Reduce” and an average target price of $54.00.

Artelo Biosciences Stock Performance

Shares of ARTL stock opened at $4.03 on Monday. Artelo Biosciences has a 1 year low of $2.95 and a 1 year high of $85.80. The stock has a market cap of $3.79 million, a PE ratio of -0.06 and a beta of 0.41. The business’s fifty day moving average is $5.10 and its 200-day moving average is $5.81.

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.