Denali Therapeutics (NASDAQ:DNLI) Trading Down 7.7% – Here’s Why

Denali Therapeutics Inc. (NASDAQ:DNLI) fell 7.7% during trading on Monday . The company traded as low as $13.53 and last traded at $13.64. 1,207,513 shares traded hands during mid-day trading, an increase of 18% from the average session volume of 1,025,854 shares. The stock had previously closed at $14.78.

Analyst Upgrades and Downgrades

Several analysts have commented on DNLI shares. The Goldman Sachs Group decreased their price objective on shares of Denali Therapeutics from $45.00 to $40.00 and set a “buy” rating for the company in a research note on Tuesday, January 28th. Baird R W raised Denali Therapeutics to a “strong-buy” rating in a report on Tuesday, January 7th. Bank of America decreased their price objective on shares of Denali Therapeutics from $30.00 to $28.00 and set a “buy” rating for the company in a research report on Monday, March 10th. William Blair restated an “outperform” rating on shares of Denali Therapeutics in a research report on Friday, February 28th. Finally, B. Riley reiterated a “buy” rating and set a $35.00 target price (down previously from $38.00) on shares of Denali Therapeutics in a research report on Wednesday, March 5th. Two research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $37.20.

Denali Therapeutics Trading Down 9.3 %

The firm’s fifty day moving average price is $19.05 and its 200 day moving average price is $23.21. The stock has a market capitalization of $1.95 billion, a price-to-earnings ratio of -4.90 and a beta of 1.46.

Denali Therapeutics (NASDAQ:DNLI) last released its quarterly earnings results on Thursday, February 27th. The company reported ($0.67) EPS for the quarter, topping analysts’ consensus estimates of ($0.75) by $0.08. On average, analysts forecast that Denali Therapeutics Inc. will post -2.71 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Carole Ho sold 12,255 shares of Denali Therapeutics stock in a transaction on Monday, January 6th. The shares were sold at an average price of $20.22, for a total transaction of $247,796.10. Following the sale, the insider now directly owns 178,580 shares in the company, valued at $3,610,887.60. This trade represents a 6.42 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Steve E. Krognes sold 3,339 shares of the stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $20.81, for a total value of $69,484.59. Following the completion of the sale, the director now directly owns 25,757 shares of the company’s stock, valued at $536,003.17. The trade was a 11.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 47,940 shares of company stock worth $973,442 over the last three months. Company insiders own 7.90% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Quest Partners LLC acquired a new position in shares of Denali Therapeutics in the third quarter worth $73,000. The Manufacturers Life Insurance Company increased its position in Denali Therapeutics by 20.0% during the third quarter. The Manufacturers Life Insurance Company now owns 206,819 shares of the company’s stock worth $6,025,000 after purchasing an additional 34,538 shares during the last quarter. FMR LLC boosted its holdings in shares of Denali Therapeutics by 3,234.3% in 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 during the last quarter. BNP Paribas Financial Markets grew its stake in shares of Denali Therapeutics by 230.2% during the 3rd quarter. BNP Paribas Financial Markets now owns 27,625 shares of the company’s stock valued at $805,000 after buying an additional 19,259 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Denali Therapeutics by 12.6% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 29,719 shares of the company’s stock worth $866,000 after buying an additional 3,316 shares during the last quarter. 92.92% of the stock is currently owned by institutional investors and hedge funds.

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.