Artelo Biosciences (NASDAQ:ARTL) Stock Price Down 1.8% – Time to Sell?

Artelo Biosciences, Inc. (NASDAQ:ARTL)’s stock price was down 1.8% on Wednesday . The company traded as low as $1.0401 and last traded at $1.10. 689,856 shares changed hands during mid-day trading, an increase of 162% from the average session volume of 262,956 shares. The stock had previously closed at $1.12.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Weiss Ratings restated a “sell (e+)” rating on shares of Artelo Biosciences in a report on Wednesday, June 24th. Wall Street Zen upgraded shares of Artelo Biosciences from a “strong sell” rating to a “sell” rating in a report on Saturday, May 16th. Two equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Artelo Biosciences presently has a consensus rating of “Reduce” and a consensus price target of $54.00.

Artelo Biosciences Stock Performance

The business has a 50-day simple moving average of $1.92 and a two-hundred day simple moving average of $3.87. The stock has a market cap of $2.56 million, a price-to-earnings ratio of -0.03 and a beta of -0.11.

Artelo Biosciences (NASDAQ:ARTL) last issued its quarterly earnings results on Thursday, May 14th. The company reported ($4.00) earnings per share for the quarter, missing the consensus estimate 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.