Denali Therapeutics (NASDAQ:DNLI) Trading Down 4.1% After Insider Selling

Shares of Denali Therapeutics Inc. (NASDAQ:DNLI) fell 4.1% during trading on Monday after an insider sold shares in the company. The stock traded as low as $20.25 and last traded at $20.39. 209,130 shares changed hands during mid-day trading, a decline of 56% from the average session volume of 479,181 shares. The stock had previously closed at $21.26.

Specifically, Director Vicki L. Sato sold 3,080 shares of the firm’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $20.91, for a total value of $64,402.80. Following the sale, the director now owns 107,976 shares in the company, valued at approximately $2,257,778.16. This trade represents a 2.77 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Analyst Upgrades and Downgrades

DNLI has been the subject of several research reports. Jefferies Financial Group increased their target price on shares of Denali Therapeutics from $40.00 to $45.00 and gave the company a “buy” rating in a research note on Friday, November 1st. HC Wainwright lowered their price objective on Denali Therapeutics from $90.00 to $87.00 and set a “buy” rating on the stock in a research report on Tuesday. JPMorgan Chase & Co. cut 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. Robert W. Baird began coverage on Denali Therapeutics in a report on Tuesday. They set an “outperform” rating and a $31.00 price objective for the company. Finally, Cantor Fitzgerald lowered shares of Denali Therapeutics from an “overweight” rating to a “neutral” rating in a report on Monday, October 7th. Two analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, Denali Therapeutics currently has an average rating of “Moderate Buy” and an average target price of $38.91.

Denali Therapeutics Stock Performance

The stock has a market cap of $3.05 billion, a P/E ratio of -7.67 and a beta of 1.39. The firm’s 50-day moving average is $24.34 and its two-hundred day moving average is $24.88.

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 the consensus estimate of ($0.60) by ($0.03). During the same quarter last year, the company posted ($0.72) earnings per share. As a group, research analysts forecast that Denali Therapeutics Inc. will post -2.71 EPS for the current year.

Hedge Funds Weigh In On Denali Therapeutics

Several large investors have recently bought and sold shares of DNLI. Wellington Management Group LLP lifted its stake in shares of Denali Therapeutics by 9.2% in the 3rd quarter. Wellington Management Group LLP now owns 10,727,450 shares of the company’s stock valued at $312,491,000 after purchasing an additional 903,683 shares during the period. FMR LLC lifted its stake in Denali Therapeutics by 3,234.3% in the third quarter. FMR LLC now owns 7,831,378 shares of the company’s stock valued at $228,128,000 after buying an additional 7,596,508 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Denali Therapeutics by 63.2% during the third 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 buying an additional 1,451,770 shares during the last quarter. Marshall Wace LLP grew its position in shares of Denali Therapeutics by 12.7% during the 2nd quarter. Marshall Wace LLP now owns 2,418,833 shares of the company’s stock worth $56,165,000 after buying an additional 272,454 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in shares of Denali Therapeutics by 6.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,417,472 shares of the company’s stock valued at $32,913,000 after acquiring an additional 84,522 shares during the last quarter. 92.92% of the stock is currently owned by institutional investors and hedge funds.

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.