Artelo Biosciences Stock Scheduled to Reverse Split on Monday, August 31st (NASDAQ:ARTL)

Shares of Artelo Biosciences, Inc. (NASDAQ:ARTL) are scheduled to reverse split on the morning of Monday, August 31st. The 1-9 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the market closes on Sunday, August 30th.

Artelo Biosciences Stock Performance

ARTL traded down $0.05 on Thursday, hitting $0.66. The company had a trading volume of 832,187 shares, compared to its average volume of 508,567. The stock has a market capitalization of $3.04 million, a price-to-earnings ratio of -0.04 and a beta of -0.07. The stock has a fifty day moving average price of $0.94 and a 200-day moving average price of $2.76. Artelo Biosciences has a 12-month low of $0.52 and a 12-month high of $28.14.

Artelo Biosciences (NASDAQ:ARTL) last announced its earnings results on Wednesday, August 12th. The company reported ($0.89) EPS for the quarter, missing analysts’ consensus estimates of ($0.72) by ($0.17).

Analyst Ratings Changes

Several brokerages have recently issued reports on ARTL. Wall Street Zen upgraded Artelo Biosciences from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 16th. Weiss Ratings restated a “sell (e+)” rating on shares of Artelo Biosciences in a research report on Wednesday, June 24th. Two research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Reduce”.

Artelo Biosciences Company Profile

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.