Artelo Biosciences (NASDAQ:ARTL) Stock Price Down 5.4% – Should You Sell?

Shares of Artelo Biosciences, Inc. (NASDAQ:ARTL) fell 5.4% on Wednesday. The stock traded as low as $2.20 and last traded at $2.27. Approximately 8,474 shares traded hands during trading, a decline of 78% from the average session volume of 37,759 shares. The stock had previously closed at $2.40.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Artelo Biosciences in a research note on Monday, September 21st. One investment analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Reduce”.

Artelo Biosciences Price Performance

The stock has a fifty day moving average price of $4.05 and a two-hundred day moving average price of $21.28. The company has a market cap of $1.25 million, a P/E ratio of -0.02 and a beta of 0.01.

Artelo Biosciences (NASDAQ:ARTL) last posted its earnings results on Wednesday, August 12th. The company reported ($0.89) EPS for the quarter, beating the consensus estimate of ($6.48) by $5.59.

Artelo Biosciences Company Profile

Artelo Biosciences, Inc is a clinical-stage biopharmaceutical company focused on developing therapeutics that target the endocannabinoid system, a biological signaling network involved in areas such as pain, appetite, inflammation and cancer. The company’s programs are designed to address unmet medical needs in oncology and other therapeutic areas.

Artelo’s development pipeline has included ART27.13, a peripherally restricted cannabinoid receptor type 1 agonist being investigated for cancer-related anorexia and cachexia.