Artelo Biosciences (ARTL) stock rocketed higher on Monday after the clinical-stage biopharmaceutical company announced results from a Phase 1 study of ART26.12. This is an inhibitor of Fatty Acid Binding Protein 5, which is linked to multiple diseases, including cancer, the skin condition psoriasis, Alzheimer’s disease, and diabetes.
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Artelo Biosciences’ Phase 1 clinical trial measured the safety, tolerability, and pharmacokinetics of ART26.12 in healthy patients. The results from this study were positive, with only mild adverse events that resolved on their own. The drug was also tolerable and showed strong linear absorption.
ARTL stock was up 133.43% as of Monday morning, extending its 6.76% increase year-to-date. This will also erase its 12-month decrease of 16.17%. Today’s rise also came with heavy trading, as 7 million shares changed hands, compared to a three-month daily average of about 12,500 units.
Is Artelo Biosciences Stock a Buy, Sell, or Hold?
Turning to Wall Street, only D. Boral Capital analyst Jason Kolbert has covered Artelo Biosciences in the past three months. He has a Hold rating and no price target for the shares.
With that thin coverage from Wall Street, investors might want to consider what Spark, TipRanks’ AI analyst, has to say about ARTL stock. Spark rates Artelo Biosciences an Underperform (34) with no price target. It cites “substantial financial hurdles with no revenue and continuous losses” as reasons for this stance.
