Denali Therapeutics (NASDAQ:DNLI) Trading Down 5.8%

Denali Therapeutics Inc. (NASDAQ:DNLI)’s share price was down 5.8% during trading on Monday . The company traded as low as $21.81 and last traded at $21.88. Approximately 590,228 shares changed hands during mid-day trading, a decline of 51% from the average daily volume of 1,198,983 shares. The stock had previously closed at $23.22.

Analyst Ratings Changes

A number of research firms have recently weighed in on DNLI. HC Wainwright reaffirmed a “buy” rating and set a $95.00 price target on shares of Denali Therapeutics in a research note on Wednesday, May 8th. Stifel Nicolaus reduced their price target on shares of Denali Therapeutics from $26.00 to $22.00 and set a “hold” rating for the company in a research report on Wednesday, May 8th. UBS Group dropped their price objective on Denali Therapeutics from $70.00 to $32.00 and set a “buy” rating for the company in a research note on Tuesday, April 9th. Finally, Wedbush decreased their target price on Denali Therapeutics from $31.00 to $30.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 8th. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $40.22.

Denali Therapeutics Stock Down 2.0 %

The business’s fifty day moving average price is $19.69 and its 200 day moving average price is $19.27. The firm has a market capitalization of $3.04 billion, a PE ratio of -22.19 and a beta of 1.39.

Denali Therapeutics (NASDAQ:DNLI) last issued its quarterly earnings results on Tuesday, May 7th. The company reported ($0.68) earnings per share for the quarter, beating the consensus estimate of ($0.69) by $0.01. During the same period last year, the company earned ($0.80) earnings per share. As a group, sell-side analysts forecast that Denali Therapeutics Inc. will post -2.78 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Jennifer E. Cook sold 1,458 shares of the stock in a transaction on Thursday, June 6th. The stock was sold at an average price of $21.73, for a total value of $31,682.34. Following the transaction, the director now directly owns 20,038 shares of the company’s stock, valued at approximately $435,425.74. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, Director Vicki L. Sato sold 1,666 shares of the company’s stock in a transaction on Monday, April 15th. The shares were sold at an average price of $18.29, for a total transaction of $30,471.14. Following the completion of the sale, the director now directly owns 118,043 shares of the company’s stock, valued at approximately $2,159,006.47. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Jennifer E. Cook sold 1,458 shares of the stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $21.73, for a total value of $31,682.34. Following the completion of the sale, the director now owns 20,038 shares of the company’s stock, valued at $435,425.74. The disclosure for this sale can be found here. 7.90% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Denali Therapeutics

Hedge funds have recently modified their holdings of the stock. Hsbc Holdings PLC acquired a new stake in shares of Denali Therapeutics during the third quarter valued at about $359,000. Northern Trust Corp increased its position in shares of Denali Therapeutics by 2.5% in the 3rd quarter. Northern Trust Corp now owns 1,116,742 shares of the company’s stock worth $23,038,000 after purchasing an additional 27,044 shares during the last quarter. Teza Capital Management LLC bought a new position in shares of Denali Therapeutics during the third quarter worth about $446,000. Gotham Asset Management LLC acquired a new position in Denali Therapeutics in the third quarter worth about $400,000. Finally, Alps Advisors Inc. raised its stake in Denali Therapeutics by 0.8% during the third quarter. Alps Advisors Inc. now owns 101,400 shares of the company’s stock valued at $2,092,000 after buying an additional 780 shares in the last quarter. 92.92% of the stock is currently owned by hedge funds and other institutional investors.

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.