Artelo Biosciences, Inc. (NASDAQ:ARTL) Sees Significant Increase in Short Interest

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

Wall Street Analysts Forecast Growth

ARTL has been the topic of a number of recent research reports. HC Wainwright reaffirmed a “buy” rating and set a $5.00 price objective on shares of Artelo Biosciences in a research report on Wednesday, November 13th. EF Hutton Acquisition Co. I upgraded Artelo Biosciences to a “strong-buy” rating in a research report on Tuesday, October 1st.

Artelo Biosciences Price Performance

Artelo Biosciences stock opened at $1.07 on Tuesday. Artelo Biosciences has a 1-year low of $1.00 and a 1-year high of $1.75. The company has a market cap of $3.45 million, a PE ratio of -0.38 and a beta of 1.35. The stock’s 50 day moving average price is $1.14 and its 200 day moving average price is $1.26.

Artelo Biosciences (NASDAQ:ARTL) last released its quarterly earnings data on Tuesday, November 12th. The company reported ($0.35) EPS for the quarter, topping analysts’ consensus estimates of ($0.41) by $0.06. On average, equities research analysts anticipate that Artelo Biosciences will post -2.62 EPS for the current fiscal 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.