Short Interest in Artelo Biosciences, Inc. (NASDAQ:ARTL) Decreases By 37.6%

Artelo Biosciences, Inc. (NASDAQ:ARTL) saw a significant drop in short interest during the month of June. As of June 15th, there was short interest totaling 136,611 shares, a drop of 37.6% from the May 31st total of 218,904 shares. Currently, 6.1% of the shares of the company are short sold. Based on an average daily volume of 333,325 shares, the days-to-cover ratio is presently 0.4 days.

Analyst Ratings Changes

Several research analysts have commented on the company. Wall Street Zen raised Artelo Biosciences from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 16th. Weiss Ratings reissued a “sell (e+)” rating on shares of Artelo Biosciences in a report on Wednesday, June 24th. Two equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Reduce” and an average target price of $54.00.

Artelo Biosciences Stock Up 0.9%

Shares of NASDAQ:ARTL opened at $1.11 on Friday. Artelo Biosciences has a fifty-two week low of $1.03 and a fifty-two week high of $85.80. The firm’s 50-day simple moving average is $1.86 and its 200-day simple moving average is $3.83. The company has a market cap of $2.59 million, a price-to-earnings ratio of -0.03 and a beta of -0.11.

Artelo Biosciences (NASDAQ:ARTL) last announced its quarterly earnings results on Thursday, May 14th. The company reported ($4.00) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.78) by ($3.22).

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.