Insider Selling: Denali Therapeutics Inc. (NASDAQ:DNLI) Director Sells 3,339 Shares of Stock

Denali Therapeutics Inc. (NASDAQ:DNLI) Director Steve E. Krognes sold 3,339 shares of the company’s stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $20.81, for a total transaction of $69,484.59. Following the completion of the transaction, the director now directly owns 25,757 shares of the company’s stock, valued at approximately $536,003.17. The trade was a 11.48 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Denali Therapeutics Stock Down 10.1 %

Shares of DNLI stock opened at $19.10 on Friday. The company has a market cap of $2.75 billion, a P/E ratio of -6.92 and a beta of 1.39. The business has a 50 day moving average of $24.13 and a two-hundred day moving average of $24.83. Denali Therapeutics Inc. has a 52 week low of $14.56 and a 52 week high of $33.33.

Denali Therapeutics (NASDAQ:DNLI) last issued its quarterly earnings data on Wednesday, November 6th. The company reported ($0.63) EPS for the quarter, missing analysts’ consensus estimates of ($0.60) by ($0.03). During the same period in the previous year, the company posted ($0.72) earnings per share. Analysts expect that Denali Therapeutics Inc. will post -2.71 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

DNLI has been the topic of several recent analyst reports. Stifel Nicolaus upgraded Denali Therapeutics from a “hold” rating to a “buy” rating and set a $37.00 price target on the stock in a research note on Monday, December 16th. William Blair began coverage on Denali Therapeutics in a research note on Friday, January 3rd. They set an “outperform” rating for the company. Robert W. Baird began coverage on shares of Denali Therapeutics in a research note on Tuesday. They issued an “outperform” rating and a $31.00 price target for the company. JPMorgan Chase & Co. reduced their price objective on shares of Denali Therapeutics from $28.00 to $24.00 and set an “overweight” rating on the stock in a research note on Tuesday. Finally, Cantor Fitzgerald downgraded shares of Denali Therapeutics from an “overweight” rating to a “neutral” rating in a research report on Monday, October 7th. Two research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Denali Therapeutics currently has a consensus rating of “Moderate Buy” and an average price target of $38.91.

Hedge Funds Weigh In On Denali Therapeutics

Institutional investors have recently modified their holdings of the company. CWM LLC boosted its stake in Denali Therapeutics by 43.6% during the 3rd quarter. CWM LLC now owns 2,153 shares of the company’s stock valued at $63,000 after purchasing an additional 654 shares during the period. Quest Partners LLC bought a new stake in shares of Denali Therapeutics during the third quarter valued at approximately $73,000. Assetmark Inc. boosted its position in shares of Denali Therapeutics by 18.0% during the third quarter. Assetmark Inc. now owns 3,808 shares of the company’s stock worth $111,000 after buying an additional 580 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its holdings in Denali Therapeutics by 21.6% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,178 shares of the company’s stock worth $152,000 after buying an additional 920 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in Denali Therapeutics in the 2nd quarter valued at approximately $194,000. Institutional investors own 92.92% of the company’s stock.

Denali Therapeutics Company Profile

Denali Therapeutics Inc, a biopharmaceutical company, develops a portfolio of product candidates engineered to cross the blood-brain barrier for neurodegenerative diseases and lysosomal storage diseases in the United States. The company’s transport vehicle (TV)-enabled programs include DNL310 ETV, an IDS enzyme replacement therapy program for MPS II; TAK-594/DNL593 which is in Phase 1/II for frontotemporal dementia-granulin; DNL126 program for MPS IIIA; and DNL622 for MPS I, as well as other preclinical programs that target amyloid beta and HER2.