Short Interest in Artelo Biosciences, Inc. (NASDAQ:ARTL) Expands By 9.0%

Artelo Biosciences, Inc. (NASDAQ:ARTL) was the target of a large growth in short interest in November. As of November 15th, there was short interest totalling 21,700 shares, a growth of 9.0% from the October 31st total of 19,900 shares. Currently, 0.7% of the company’s stock are sold short. Based on an average daily trading volume, of 16,300 shares, the short-interest ratio is presently 1.3 days.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. HC Wainwright reaffirmed a “buy” rating and set a $5.00 price target on shares of Artelo Biosciences in a research report on Wednesday, November 13th. EF Hutton Acquisition Co. I raised Artelo Biosciences to a “strong-buy” rating in a research report on Tuesday, October 1st.

Artelo Biosciences Stock Down 0.9 %

Shares of Artelo Biosciences stock traded down $0.01 during midday trading on Monday, hitting $1.04. The company had a trading volume of 9,047 shares, compared to its average volume of 33,963. The company has a fifty day simple moving average of $1.14 and a 200 day simple moving average of $1.26. The stock has a market cap of $3.36 million, a price-to-earnings ratio of -0.37 and a beta of 1.35. Artelo Biosciences has a 12-month low of $1.00 and a 12-month high of $1.75.

Artelo Biosciences (NASDAQ:ARTL) last released its earnings results on Tuesday, November 12th. The company reported ($0.35) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.41) by $0.06. As a group, analysts expect that Artelo Biosciences will post -2.62 EPS for the current year.

Artelo Biosciences Company Profile

Artelo Biosciences, Inc, a clinical stage biopharmaceutical company, develops and commercializes therapeutics that target lipid-signaling pathways in the United States. It's product candidate pipeline includes ART27.13, a synthetic dual cannabinoid G protein-coupled receptor agonist, which is in Phase 1b/2a clinical trial for the treatment of anorexia associated with cancer; ART12.11, a synthetic cannabidiol cocrystal for the treatment anxiety, post-traumatic stress disorder, epilepsy, inflammatory bowel disease, and other potential indications; and ART26.12, a fatty acid binding protein 5 inhibitor for treating chemotherapy induced peripheral neuropathy, diabetic neuropathy, prostate cancer and breast cancer, pain, dermatologic conditions, and anxiety disorders.