Artelo Biosciences, Inc. (ARTL, Financial) recently saw its stock dip by 5.98%, closing at $1.10 per share with a trading volume of 18,282 shares. The turnover rate stood at 0.57%, and the stock showed a price fluctuation amplitude of 4.82%.
Financial reports indicate that Artelo Biosciences recorded zero revenue, with a net loss of $1.10 million and earnings per share (EPS) of -$0.35. The gross profit was reported as $0.00, leading to a negative price-to-earnings (P/E) ratio of -0.40.
Despite the financial figures, 100% of the four institutional analysts covering the stock have given a buy recommendation, with no hold or sell ratings.
In the biotechnology sector, where Artelo Biosciences operates, the overall decline was 0.33%. In contrast, other notable stocks such as Nkgen Biotech Inc, Pulmatrix, Inc., and Calidi Biotherapeutics, Inc. saw significant increases. Stocks like Cyclacel Pharmaceuticals, Inc., Elevai Labs, Inc., and Calidi Biotherapeutics, Inc. were also active with high turnover rates of 549.55%, 495.58%, and 153.82%, respectively. Psyence Biomedical Ltd, Pulmatrix, Inc., and Celularity Inc experienced considerable price fluctuations.
Artelo Biosciences is a U.S.-based biopharmaceutical company focusing on the development of therapies that target lipid signaling pathways, particularly the endocannabinoid system. It aims to discover, license, develop, and commercialize therapies controlling this system. Their projects include proprietary cannabinoid-based therapies from both natural and synthetic sources, as well as novel chemical entities and compounds. The company’s flagship project targets a rare orphan disease with a patent-protected cannabinoid drug combination therapy.
