Denali Therapeutics (NASDAQ:DNLI) Trading Down 4.3% – Here’s What Happened

Shares of Denali Therapeutics Inc. (NASDAQ:DNLI) fell 4.3% during trading on Friday . The stock traded as low as $22.47 and last traded at $22.28. 55,862 shares were traded during mid-day trading, a decline of 95% from the average session volume of 1,057,344 shares. The stock had previously closed at $23.28.

Analysts Set New Price Targets

Several research firms have issued reports on DNLI. William Blair restated an “outperform” rating on shares of Denali Therapeutics in a report on Wednesday, January 15th. HC Wainwright lowered their target price on Denali Therapeutics from $90.00 to $87.00 and set a “buy” rating on the stock in a research report on Tuesday, January 7th. Stifel Nicolaus raised Denali Therapeutics from a “hold” rating to a “buy” rating and set a $37.00 price objective for the company in a report on Monday, December 16th. Robert W. Baird started coverage on Denali Therapeutics in a research report on Tuesday, January 7th. They set an “outperform” rating and a $31.00 price target on the stock. Finally, JPMorgan Chase & Co. decreased their price objective on Denali Therapeutics from $28.00 to $24.00 and set an “overweight” rating for the company in a report on Tuesday, January 7th. 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, the company presently has an average rating of “Moderate Buy” and an average target price of $38.91.

Denali Therapeutics Stock Performance

The business has a 50 day moving average price of $22.68 and a two-hundred day moving average price of $24.80. The company has a market cap of $3.26 billion, a P/E ratio of -8.13 and a beta of 1.39.

Denali Therapeutics (NASDAQ:DNLI) last announced 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 period in the prior year, the firm earned ($0.72) earnings per share. As a group, research analysts expect that Denali Therapeutics Inc. will post -2.73 EPS for the current year.

Insider Buying and Selling at Denali Therapeutics

In other Denali Therapeutics news, insider Alexander O. Schuth sold 15,558 shares of Denali Therapeutics stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $29.91, for a total transaction of $465,339.78. Following the completion of the transaction, the insider now directly owns 178,066 shares of the company’s stock, valued at $5,325,954.06. The trade was a 8.04 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Vicki L. Sato sold 1,020 shares of the firm’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $30.00, for a total transaction of $30,600.00. Following the completion of the sale, the director now owns 111,056 shares of the company’s stock, valued at $3,331,680. This trade represents a 0.91 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 64,518 shares of company stock valued at $1,469,382. Insiders own 7.90% of the company’s stock.

Hedge Funds Weigh In On Denali Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. CWM LLC boosted its holdings in shares of Denali Therapeutics by 43.6% in the 3rd quarter. CWM LLC now owns 2,153 shares of the company’s stock valued at $63,000 after buying an additional 654 shares in the last quarter. Quest Partners LLC acquired a new stake in shares of Denali Therapeutics during the 3rd quarter valued at about $73,000. Assetmark Inc. increased its holdings in Denali Therapeutics by 18.0% in the 3rd quarter. Assetmark Inc. now owns 3,808 shares of the company’s stock worth $111,000 after acquiring an additional 580 shares in the last quarter. KBC Group NV lifted its holdings in Denali Therapeutics by 75.8% during the fourth quarter. KBC Group NV now owns 6,334 shares of the company’s stock valued at $129,000 after purchasing an additional 2,731 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its stake in Denali Therapeutics by 21.6% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,178 shares of the company’s stock valued at $152,000 after buying an additional 920 shares in the last quarter. Institutional investors own 92.92% of the company’s stock.

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.