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

Artelo Biosciences, Inc. (NASDAQ:ARTL) shares fell 6.1% on Monday . The stock traded as low as $1.22 and last traded at $1.24. 20,393 shares changed hands during 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 reports. Maxim Group restated a “hold” rating on shares of Artelo Biosciences in a research note on Wednesday, November 19th. Weiss Ratings reissued a “sell (e+)” rating on shares of Artelo Biosciences in a report on Monday, December 29th. One analyst has rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $24.00.

Artelo Biosciences Stock Down 6.1%

The company has a market cap of $2.50 million, a P/E ratio of -0.06 and a beta of 1.12. The company has a 50 day moving average price of $1.50 and a 200-day moving average price of $3.54.

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.