Short Interest in Artelo Biosciences, Inc. (NASDAQ:ARTL) Increases By 22.8%

Artelo Biosciences, Inc. (NASDAQ:ARTL) was the target of a large increase in short interest in the month of August. As of August 31st, there was short interest totalling 45,800 shares, an increase of 22.8% from the August 15th total of 37,300 shares. Based on an average trading volume of 79,300 shares, the short-interest ratio is presently 0.6 days. Currently, 1.4% of the shares of the company are sold short.

Analyst Upgrades and Downgrades

Separately, HC Wainwright reissued a “buy” rating and issued a $5.00 price target on shares of Artelo Biosciences in a research note on Wednesday, August 14th.

Artelo Biosciences Stock Up 3.4 %

NASDAQ:ARTL traded up $0.04 on Monday, reaching $1.22. The company’s stock had a trading volume of 4,900 shares, compared to its average volume of 38,307. The stock has a 50 day moving average price of $1.30 and a 200 day moving average price of $1.37. Artelo Biosciences has a 12-month low of $1.00 and a 12-month high of $1.78. The firm has a market cap of $3.94 million, a price-to-earnings ratio of -0.39 and a beta of 1.37.

Artelo Biosciences (NASDAQ:ARTL) last posted its quarterly earnings data on Tuesday, August 13th. The company reported ($0.75) EPS for the quarter, beating the consensus estimate of ($0.85) by $0.10. Equities research analysts expect that Artelo Biosciences will post -2.41 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.