Short Interest in Artelo Biosciences, Inc. (NASDAQ:ARTL) Grows By 153.3%

Artelo Biosciences, Inc. (NASDAQ:ARTL) saw a large growth in short interest during the month of January. As of January 15th, there was short interest totaling 124,020 shares, a growth of 153.3% from the December 31st total of 48,967 shares. Currently, 6.9% of the company’s shares are sold short. Based on an average trading volume of 135,794 shares, the days-to-cover ratio is currently 0.9 days. Based on an average trading volume of 135,794 shares, the days-to-cover ratio is currently 0.9 days. Currently, 6.9% of the company’s shares are sold short.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Weiss Ratings reissued a “sell (e+)” rating on shares of Artelo Biosciences in a research note on Monday, December 29th. Maxim Group reissued a “hold” rating on shares of Artelo Biosciences in a research 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 stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $24.00.

Artelo Biosciences Stock Performance

NASDAQ:ARTL opened at $1.68 on Friday. The firm has a 50-day simple moving average of $1.64 and a 200-day simple moving average of $5.06. Artelo Biosciences has a one year low of $1.15 and a one year high of $28.60. The firm has a market cap of $3.39 million, a P/E ratio of -0.08 and a beta of 1.04.

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

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.