Ryan J. Watts Sells 29,266 Shares of Denali Therapeutics Inc. (NASDAQ:DNLI) Stock

Denali Therapeutics Inc. (NASDAQ:DNLI) CEO Ryan J. Watts sold 29,266 shares of Denali Therapeutics stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $20.22, for a total transaction of $591,758.52. Following the transaction, the chief executive officer now directly owns 260,721 shares in the company, valued at approximately $5,271,778.62. This represents a 10.09 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Denali Therapeutics Trading Down 10.1 %

Denali Therapeutics stock opened at $19.10 on Friday. The firm has a 50 day simple moving average of $24.13 and a 200 day simple moving average of $24.83. The firm has a market capitalization of $2.75 billion, a price-to-earnings ratio of -6.92 and a beta of 1.39. Denali Therapeutics Inc. has a 1-year low of $14.56 and a 1-year high of $33.33.

Denali Therapeutics (NASDAQ:DNLI) last released its quarterly earnings results 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 quarter in the previous year, the firm posted ($0.72) EPS. On average, equities research analysts forecast that Denali Therapeutics Inc. will post -2.71 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Victory Capital Management Inc. grew its position in shares of Denali Therapeutics by 163.7% during the 3rd quarter. Victory Capital Management Inc. now owns 39,900 shares of the company’s stock valued at $1,162,000 after purchasing an additional 24,767 shares in the last quarter. FMR LLC grew its position in shares of Denali Therapeutics by 3,234.3% during the 3rd quarter. FMR LLC now owns 7,831,378 shares of the company’s stock valued at $228,128,000 after purchasing an additional 7,596,508 shares in the last quarter. Algert Global LLC grew its position in shares of Denali Therapeutics by 82.4% during the 3rd quarter. Algert Global LLC now owns 48,630 shares of the company’s stock valued at $1,417,000 after purchasing an additional 21,975 shares in the last quarter. Integral Health Asset Management LLC purchased a new position in shares of Denali Therapeutics during the 2nd quarter valued at $7,546,000. Finally, Principal Financial Group Inc. lifted its holdings in shares of Denali Therapeutics by 13.8% during the 3rd quarter. Principal Financial Group Inc. now owns 1,238,476 shares of the company’s stock worth $36,076,000 after acquiring an additional 149,939 shares during the last quarter. 92.92% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have recently issued reports on DNLI. JPMorgan Chase & Co. decreased their price target on shares of Denali Therapeutics from $28.00 to $24.00 and set an “overweight” rating for the company in a research note on Tuesday. William Blair began coverage on shares of 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 set an “outperform” rating and a $31.00 price target for the company. Jefferies Financial Group raised their price target on shares of Denali Therapeutics from $40.00 to $45.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Finally, HC Wainwright decreased their price target on shares of Denali Therapeutics from $90.00 to $87.00 and set a “buy” rating for the company in a research note on Tuesday. Two research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $38.91.

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.