Denali Therapeutics (NASDAQ:DNLI) Stock Price Down 4.9% – Time to Sell?

Denali Therapeutics Inc. (NASDAQ:DNLI)’s stock price fell 4.9% during mid-day trading on Monday . The stock traded as low as $21.33 and last traded at $21.16. 143,506 shares were traded during trading, a decline of 85% from the average session volume of 979,665 shares. The stock had previously closed at $22.25.

Analysts Set New Price Targets

A number of analysts have recently issued reports on DNLI shares. JPMorgan Chase & Co. reduced their price objective 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, January 7th. HC Wainwright cut their price target on Denali Therapeutics from $90.00 to $87.00 and set a “buy” rating for the company in a research note on Tuesday, January 7th. Robert W. Baird began coverage on Denali Therapeutics in a research report on Tuesday, January 7th. They issued an “outperform” rating and a $31.00 price objective on the stock. The Goldman Sachs Group cut their target price on Denali Therapeutics from $45.00 to $40.00 and set a “buy” rating for the company in a research report on Tuesday, January 28th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on Denali Therapeutics in a research note on Tuesday. They set a “buy” rating and a $31.00 target price on the stock. Two equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $37.42.

Denali Therapeutics Trading Up 1.2 %

The stock has a market cap of $3.00 billion, a PE ratio of -7.54 and a beta of 1.43. The firm’s 50-day moving average price is $22.03 and its two-hundred day moving average price is $24.79.

Insider Buying and Selling

In other news, insider Carole Ho sold 12,255 shares of the stock in a transaction on Monday, January 6th. The shares were sold at an average price of $20.22, for a total value of $247,796.10. Following the sale, the insider now owns 178,580 shares in the company, valued at $3,610,887.60. This represents a 6.42 % decrease in their ownership of the stock. The transaction 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 company’s 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 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 disclosure for this sale can be found here. Insiders sold 47,940 shares of company stock worth $973,442 in the last 90 days. Insiders own 7.90% of the company’s stock.

Institutional Trading of Denali Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in DNLI. CWM LLC raised its stake in shares of Denali Therapeutics by 43.6% during the 3rd quarter. CWM LLC now owns 2,153 shares of the company’s stock worth $63,000 after buying an additional 654 shares during the period. Quest Partners LLC purchased a new stake in Denali Therapeutics in the 3rd quarter worth $73,000. PNC Financial Services Group Inc. raised its position in Denali Therapeutics by 30.5% during the fourth quarter. PNC Financial Services Group Inc. now owns 3,790 shares of the company’s stock worth $77,000 after acquiring an additional 885 shares during the period. Assetmark Inc. raised its position in Denali Therapeutics by 18.0% during the third quarter. Assetmark Inc. now owns 3,808 shares of the company’s stock worth $111,000 after acquiring an additional 580 shares during the period. Finally, 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. Institutional investors and hedge funds own 92.92% of the company’s stock.

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.