Insider Selling: Denali Therapeutics Inc. (NASDAQ:DNLI) Director Sells 3,339 Shares of Stock

Denali Therapeutics Inc. (NASDAQ:DNLI) Director Steve E. Krognes sold 3,339 shares of Denali Therapeutics stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $20.81, for a total value of $69,484.59. Following the sale, the director now directly owns 25,757 shares in the company, valued at approximately $536,003.17. The trade was a 11.48 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

Denali Therapeutics Stock Performance

Shares of Denali Therapeutics stock traded up $0.07 during trading hours on Wednesday, reaching $21.25. The company’s stock had a trading volume of 1,245,656 shares, compared to its average volume of 1,173,671. Denali Therapeutics Inc. has a one year low of $14.56 and a one year high of $33.33. The company’s 50 day simple moving average is $24.34 and its 200 day simple moving average is $24.88. The stock has a market cap of $3.06 billion, a P/E ratio of -7.70 and a beta of 1.39.

Denali Therapeutics (NASDAQ:DNLI) last issued its 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 previous year, the company earned ($0.72) EPS. On average, sell-side analysts predict that Denali Therapeutics Inc. will post -2.71 earnings per share for the current fiscal year.

Institutional Trading of Denali Therapeutics

Hedge funds have recently made changes to their positions in the stock. FMR LLC grew its position in Denali Therapeutics by 3,234.3% in the 3rd 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. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of 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 period. Point72 Asset Management L.P. bought a new position in Denali Therapeutics in the 2nd quarter worth approximately $24,454,000. Wellington Management Group LLP increased its position in 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 acquiring an additional 903,683 shares during the period. Finally, Integral Health Asset Management LLC bought a new stake in Denali Therapeutics during the 2nd quarter valued at $7,546,000. Institutional investors own 92.92% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Jefferies Financial Group raised their price objective on Denali Therapeutics from $40.00 to $45.00 and gave the company a “buy” rating in a research note on Friday, November 1st. William Blair initiated coverage on shares of Denali Therapeutics in a research report on Friday, January 3rd. They set an “outperform” rating for the company. Robert W. Baird initiated coverage on shares of Denali Therapeutics in a report on Tuesday. They issued an “outperform” rating and a $31.00 price target on the stock. Cantor Fitzgerald downgraded shares of Denali Therapeutics from an “overweight” rating to a “neutral” rating in a research note on Monday, October 7th. Finally, Raymond James reissued a “market perform” rating on shares of Denali Therapeutics in a research report on Thursday, October 10th. Two analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Denali Therapeutics 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.