Denali Therapeutics (NASDAQ:DNLI) Trading Down 6.2% – Time to Sell?

Denali Therapeutics Inc. (NASDAQ:DNLI)’s stock price was down 6.2% during mid-day trading on Monday . The company traded as low as $21.69 and last traded at $21.86. Approximately 325,649 shares traded hands during mid-day trading, a decline of 68% from the average daily volume of 1,002,596 shares. The stock had previously closed at $23.30.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. William Blair reaffirmed an “outperform” rating on shares of Denali Therapeutics in a research report on Wednesday, January 15th. Robert W. Baird began coverage on shares of Denali Therapeutics in a research report on Tuesday, January 7th. They issued an “outperform” rating and a $31.00 price objective on the stock. The Goldman Sachs Group reduced their price objective on shares of Denali Therapeutics from $45.00 to $40.00 and set a “buy” rating for the company in a research note on Tuesday, January 28th. Stifel Nicolaus raised shares of Denali Therapeutics from a “hold” rating to a “buy” rating and set a $37.00 price target on the stock in a report on Monday, December 16th. Finally, Cantor Fitzgerald cut Denali Therapeutics from an “overweight” rating to a “neutral” rating in a research report on Monday, October 7th. Two equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $38.00.

Denali Therapeutics Stock Down 6.3 %

The firm has a 50 day moving average price of $22.42 and a 200-day moving average price of $24.85. The stock has a market capitalization of $3.14 billion, a PE ratio of -7.91 and a beta of 1.43.

Denali Therapeutics (NASDAQ:DNLI) last posted its quarterly earnings results on Wednesday, November 6th. The company reported ($0.63) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.60) by ($0.03). During the same period in the prior year, the firm earned ($0.72) EPS. Equities analysts expect that Denali Therapeutics Inc. will post -2.74 earnings per share for the current fiscal year.

Insider Activity at Denali Therapeutics

In other news, Director Vicki L. Sato sold 1,020 shares of the firm’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $30.00, for a total transaction of $30,600.00. Following the sale, the director now directly owns 111,056 shares in the company, valued at $3,331,680. This trade represents a 0.91 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Steve E. Krognes sold 3,339 shares of the company’s stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $20.81, for a total value of $69,484.59. Following 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 disclosure for this sale can be found here. Insiders sold 64,518 shares of company stock worth $1,469,382 over the last three months. Company insiders own 7.90% of the company’s stock.

Institutional Trading of Denali Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of the stock. CWM LLC lifted its stake in Denali Therapeutics by 43.6% in the 3rd quarter. CWM LLC now owns 2,153 shares of the company’s stock valued at $63,000 after buying an additional 654 shares in the last quarter. Quest Partners LLC acquired a new position in shares of Denali Therapeutics during the third quarter valued at approximately $73,000. Assetmark Inc. lifted its position in shares of Denali Therapeutics by 18.0% in the third quarter. Assetmark Inc. now owns 3,808 shares of the company’s stock valued at $111,000 after acquiring an additional 580 shares in the last quarter. KBC Group NV boosted its stake in shares of Denali Therapeutics by 75.8% in the fourth quarter. KBC Group NV now owns 6,334 shares of the company’s stock worth $129,000 after acquiring an additional 2,731 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its position in shares of Denali Therapeutics by 21.6% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,178 shares of the company’s stock worth $152,000 after purchasing an additional 920 shares in the last quarter. Hedge funds and other institutional investors own 92.92% of the company’s stock.

About Denali Therapeutics

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.