Denali Therapeutics (NASDAQ:DNLI) Trading Down 8.3% – Here’s Why

Shares of Denali Therapeutics Inc. (NASDAQ:DNLI) fell 8.3% on Friday . The stock traded as low as $26.06 and last traded at $26.09. 426,584 shares changed hands during mid-day trading, a decline of 60% from the average session volume of 1,067,450 shares. The stock had previously closed at $28.45.

Analysts Set New Price Targets

DNLI has been the topic of several analyst reports. Citigroup upped their target price on Denali Therapeutics from $26.00 to $32.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Bank of America boosted their target price on shares of Denali Therapeutics from $25.00 to $29.00 and gave the company a “buy” rating in a report on Wednesday, September 4th. HC Wainwright reissued a “buy” rating and issued a $90.00 price objective on shares of Denali Therapeutics in a research report on Thursday, November 7th. Cantor Fitzgerald cut Denali Therapeutics from an “overweight” rating to a “neutral” rating in a research note on Monday, October 7th. Finally, Wedbush cut their price target on Denali Therapeutics from $30.00 to $26.00 and set an “outperform” rating on the stock in a report on Friday, August 2nd. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $38.90.

Denali Therapeutics Price Performance

The firm has a market cap of $3.71 billion, a P/E ratio of -9.33 and a beta of 1.40. The company has a fifty day moving average of $28.20 and a 200-day moving average of $23.91.

Denali Therapeutics (NASDAQ:DNLI) last posted its earnings results on Wednesday, November 6th. The company reported ($0.63) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.60) by ($0.03). During the same quarter last year, the firm earned ($0.72) earnings per share. On average, sell-side analysts expect that Denali Therapeutics Inc. will post -2.69 EPS for the current fiscal year.

Insider Transactions at Denali Therapeutics

In other news, CEO Ryan J. Watts sold 40,000 shares of Denali Therapeutics stock in a transaction dated Friday, October 18th. The shares were sold at an average price of $27.69, for a total transaction of $1,107,600.00. Following the sale, the chief executive officer now owns 235,807 shares of the company’s stock, valued at approximately $6,529,495.83. The trade was a 14.50 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Steve E. Krognes sold 30,000 shares of the firm’s stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $29.03, for a total transaction of $870,900.00. Following the completion of the sale, the director now owns 29,096 shares of the company’s stock, valued at $844,656.88. This trade represents a 50.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 86,578 shares of company stock valued at $2,474,440. 7.90% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of DNLI. Vanguard Group Inc. grew its stake in shares of Denali Therapeutics by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 10,968,293 shares of the company’s stock worth $225,069,000 after buying an additional 133,810 shares during the last quarter. FMR LLC boosted its position in Denali Therapeutics by 3,234.3% in the third quarter. FMR LLC now owns 7,831,378 shares of the company’s stock worth $228,128,000 after purchasing an additional 7,596,508 shares during the last quarter. Capital Research Global Investors raised its holdings in Denali Therapeutics by 107.9% during the first quarter. Capital Research Global Investors now owns 6,049,957 shares of the company’s stock valued at $124,145,000 after acquiring an additional 3,140,429 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Denali Therapeutics by 63.2% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,749,486 shares of the company’s stock worth $109,223,000 after acquiring an additional 1,451,770 shares during the last quarter. Finally, Baker BROS. Advisors LP lifted its holdings in shares of Denali Therapeutics by 43.1% in the 1st quarter. Baker BROS. Advisors LP now owns 3,731,695 shares of the company’s stock valued at $76,574,000 after acquiring an additional 1,124,499 shares during the last quarter. 92.92% of the stock is owned by hedge funds and other institutional investors.

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.