Denali Therapeutics (NASDAQ:DNLI) Trading Down 6.2% – What’s Next?

Shares of Denali Therapeutics Inc. (NASDAQ:DNLI) fell 6.2% on Monday . The stock traded as low as $21.69 and last traded at $21.86. 325,649 shares traded hands during mid-day trading, a decline of 68% from the average session volume of 1,002,596 shares. The stock had previously closed at $23.30.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. William Blair reaffirmed an “outperform” rating on shares of Denali Therapeutics in a report on Wednesday, January 15th. The Goldman Sachs Group dropped 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 report on Tuesday, January 28th. Robert W. Baird began coverage on shares of Denali Therapeutics in a report on Tuesday, January 7th. They issued an “outperform” rating and a $31.00 target price on the stock. HC Wainwright decreased their price target on shares of Denali Therapeutics from $90.00 to $87.00 and set a “buy” rating for the company in a report on Tuesday, January 7th. Finally, Baird R W upgraded Denali Therapeutics to a “strong-buy” rating in a research report on Tuesday, January 7th. Two research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $38.00.

Denali Therapeutics Stock Performance

The stock has a market cap of $3.40 billion, a PE ratio of -8.55 and a beta of 1.43. The stock has a fifty day moving average price of $22.30 and a 200 day moving average price of $24.85.

Denali Therapeutics (NASDAQ:DNLI) last posted its earnings results on Wednesday, November 6th. The company reported ($0.63) EPS for the quarter, missing the consensus estimate of ($0.60) by ($0.03). During the same period in the previous year, the business earned ($0.72) earnings per share. As a group, equities analysts anticipate that Denali Therapeutics Inc. will post -2.74 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Vicki L. Sato sold 1,020 shares of Denali Therapeutics stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $30.00, for a total value of $30,600.00. Following the transaction, the director now directly owns 111,056 shares in the company, valued at approximately $3,331,680. The trade was a 0.91 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Steve E. Krognes sold 3,339 shares of the stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $20.81, for a total transaction of $69,484.59. Following the completion of the transaction, the director now owns 25,757 shares of the company’s stock, valued at approximately $536,003.17. This represents a 11.48 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 64,518 shares of company stock valued at $1,469,382 over the last ninety days. Corporate insiders own 7.90% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. FMR LLC increased its position in Denali Therapeutics by 3,234.3% during the 3rd quarter. FMR LLC now owns 7,831,378 shares of the company’s stock worth $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 raised 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 purchasing an additional 1,451,770 shares in the last quarter. Wellington Management Group LLP boosted its holdings 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 purchasing an additional 903,683 shares during the period. Fisher Asset Management LLC boosted its holdings in Denali Therapeutics by 44.8% in the 4th quarter. Fisher Asset Management LLC now owns 792,499 shares of the company’s stock valued at $16,151,000 after purchasing an additional 245,168 shares during the period. Finally, Principal Financial Group Inc. grew its position in shares of Denali Therapeutics by 13.8% during the 3rd quarter. Principal Financial Group Inc. now owns 1,238,476 shares of the company’s stock worth $36,076,000 after purchasing an additional 149,939 shares in the last quarter. 92.92% of the stock is 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.