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

Artelo Biosciences, Inc. (NASDAQ:ARTL) saw a significant increase in short interest in the month of June. As of June 15th, there was short interest totalling 13,700 shares, an increase of 39.8% from the May 31st total of 9,800 shares. Approximately 0.4% of the shares of the company are sold short. Based on an average daily trading volume, of 11,500 shares, the short-interest ratio is presently 1.2 days.

Artelo Biosciences Price Performance

Shares of NASDAQ:ARTL traded up $0.04 on Friday, reaching $1.34. The company’s stock had a trading volume of 30,272 shares, compared to its average volume of 8,808. Artelo Biosciences has a 52-week low of $1.15 and a 52-week high of $2.98. The stock’s 50-day moving average is $1.36 and its two-hundred day moving average is $1.43.

Artelo Biosciences (NASDAQ:ARTL) last posted its quarterly earnings data on Monday, May 13th. The company reported ($0.78) EPS for the quarter, beating the consensus estimate of ($1.05) by $0.27. On average, analysts predict that Artelo Biosciences will post -2.09 EPS for the current year.

Analyst Upgrades and Downgrades

Separately, HC Wainwright reissued a “buy” rating and issued a $5.00 price objective on shares of Artelo Biosciences in a report on Wednesday, June 5th.

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.