Market Analysts see Artelo Biosciences Inc. [ARTL] gaining to $7. Time to buy?

Artelo Biosciences Inc. [NASDAQ: ARTL] gained 45.87% or 2.0 points to close at $6.36 with a heavy trading volume of 15887343 shares. The company report on August 16, 2022 that Artelo Biosciences Reports Positive Pre-Clinical Results with its Novel Inhibitor to Fatty Acid Binding Protein 5.


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Recently Published Findings Support Further Development in Anxiety-Related Disorders.

Artelo Biosciences, Inc. (Nasdaq: ARTL), a clinical-stage pharmaceutical company focused on modulating lipid-signaling pathways to develop treatments for people living with cancer, pain, and neurological conditions, today announced publication of pre-clinical results indicating a novel fatty acid binding protein 5 (FABP5) inhibitor from the Company’s FABP inhibitor platform reduces anxiety behaviors in an area of the brain known to be important in anxiety and that modulation of the FABP5 system may serve as a promising target for the development of novel anxiolytics.

It opened the trading session at $5.83, the shares rose to $7.20 and dropped to $5.13, the range by which the price of stock traded the whole day. The daily chart for ARTL points out that the company has recorded 10.10% gains over the past six months. However, it is still -76.18% lower than its most recent low trading price.

If we look at the average trading volume of 46.61K shares, ARTL reached to a volume of 15887343 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about Artelo Biosciences Inc. [ARTL]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for ARTL shares is $41.67 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on ARTL stock is a recommendation set at 1.70. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Ladenburg Thalmann have made an estimate for Artelo Biosciences Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on February 12, 2021.

The Average True Range (ATR) for Artelo Biosciences Inc. is set at 0.76 The Price to Book ratio for the last quarter was 12.95, with the Price to Cash per share for the same quarter was set at 6.89.

Trading performance analysis for ARTL stock

Artelo Biosciences Inc. [ARTL] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 56.98. With this latest performance, ARTL shares gained by 28.88% in over the last four-week period, additionally plugging by 10.10% over the last 6 months – not to mention a drop of -47.91% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for ARTL stock in for the last two-week period is set at 64.73, with the RSI for the last a single of trading hit 69.41, and the three-weeks RSI is set at 61.58 for Artelo Biosciences Inc. [ARTL]. The present Moving Average for the last 50 days of trading for this stock 5.01, while it was recorded at 4.45 for the last single week of trading, and 6.86 for the last 200 days.

Artelo Biosciences Inc. [ARTL]: A deeper dive into fundamental analysis

Return on Equity for this stock declined to -93.45, with Return on Assets sitting at -87.43.

Artelo Biosciences Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 42.30 and a Current Ratio set at 42.30.

An analysis of insider ownership at Artelo Biosciences Inc. [ARTL]

There are presently around $1 million, or 5.50% of ARTL stock, in the hands of institutional investors. The top three institutional holders of ARTL stocks are: VANGUARD GROUP INC with ownership of 45,595, which is approximately 0% of the company’s market cap and around 2.72% of the total institutional ownership; GEODE CAPITAL MANAGEMENT, LLC, holding 12,472 shares of the stock with an approximate value of $79000.0 in ARTL stocks shares; and SNOWDEN CAPITAL ADVISORS LLC, currently with $47000.0 in ARTL stock with ownership of nearly 0% of the company’s market capitalization.

Positions in Artelo Biosciences Inc. stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 7 institutional holders increased their position in Artelo Biosciences Inc. [NASDAQ:ARTL] by around 12,766 shares. Additionally, 5 investors decreased positions by around 16,284 shares, while 6 investors held positions by with 64,307 shares. The mentioned changes placed institutional holdings at 93,357 shares, according to the latest SEC report filing. ARTL stock had 1 new institutional investments in for a total of 1,000 shares, while 3 institutional investors sold positions of 15,254 shares during the same period.

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