Artelo Biosciences, Inc. (NASDAQ:ARTL) Short Interest Up 82.6% in December

Artelo Biosciences, Inc. (NASDAQ:ARTL) saw a large growth in short interest in the month of December. As of December 15th, there was short interest totaling 185,968 shares, a growth of 82.6% from the November 30th total of 101,848 shares. Currently, 10.4% of the company’s shares are sold short. Based on an average daily trading volume, of 2,280,304 shares, the days-to-cover ratio is currently 0.1 days. Based on an average daily trading volume, of 2,280,304 shares, the days-to-cover ratio is currently 0.1 days. Currently, 10.4% of the company’s shares are sold short.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on ARTL shares. D Boral Capital cut shares of Artelo Biosciences from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 8th. Maxim Group reiterated a “hold” rating on shares of Artelo Biosciences in a report on Wednesday, November 19th. Weiss Ratings reissued a “sell (e+)” rating on shares of Artelo Biosciences in a research note on Monday, December 22nd. Finally, D. Boral Capital reaffirmed a “hold” rating on shares of Artelo Biosciences in a research report on Monday, September 8th. One research analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $24.00.

Artelo Biosciences Price Performance

Shares of NASDAQ ARTL opened at $1.49 on Friday. Artelo Biosciences has a 1-year low of $1.48 and a 1-year high of $28.60. The company has a market capitalization of $3.01 million, a price-to-earnings ratio of -0.07 and a beta of 1.06. The business has a 50-day moving average of $2.14 and a 200-day moving average of $6.54.

Artelo Biosciences (NASDAQ:ARTL) last announced its earnings results on Wednesday, November 12th. The company reported ($3.97) EPS for the quarter, missing the consensus estimate of ($0.82) by ($3.15). Research 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.