Denali Therapeutics (NASDAQ:DNLI) Stock Price Down 7.7% – Should You Sell?

Denali Therapeutics Inc. (NASDAQ:DNLI) shares fell 7.7% during mid-day trading on Monday . The company traded as low as $13.53 and last traded at $13.64. 1,207,513 shares changed 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.

Analysts Set New Price Targets

DNLI has been the topic of a number of research analyst reports. Oppenheimer decreased their price objective on shares of Denali Therapeutics from $50.00 to $42.00 and set an “outperform” rating on the stock in a report on Monday, March 3rd. B. Riley restated a “buy” rating and issued a $35.00 price target (down previously from $38.00) on shares of Denali Therapeutics in a report on Wednesday, March 5th. Bank of America reduced their price objective on Denali Therapeutics from $30.00 to $28.00 and set a “buy” rating for the company in a report on Monday, March 10th. Baird R W raised Denali Therapeutics to a “strong-buy” rating in a report on Tuesday, January 7th. Finally, HC Wainwright lifted their price target on Denali Therapeutics from $80.00 to $87.00 and gave the stock a “buy” rating in a research note on Friday, February 28th. Two research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $37.20.

Denali Therapeutics Stock Down 9.6 %

The firm has a market cap of $1.78 billion, a price-to-earnings ratio of -4.45 and a beta of 1.46. The firm has a fifty day moving average price of $18.67 and a 200-day moving average price of $22.97.

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

Insider Buying and Selling

In other news, CEO Ryan J. Watts sold 29,266 shares of the business’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $20.22, for a total transaction of $591,758.52. Following the completion of the sale, the chief executive officer now owns 260,721 shares in the company, valued at approximately $5,271,778.62. The trade was a 10.09 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Vicki L. Sato sold 3,080 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $20.91, for a total transaction of $64,402.80. Following the completion of the transaction, the director now owns 107,976 shares in the company, valued at $2,257,778.16. The trade was a 2.77 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 47,940 shares of company stock valued at $973,442. Insiders own 7.90% of the company’s stock.

Hedge Funds Weigh In On Denali Therapeutics

A number of hedge funds have recently made changes to their positions in DNLI. Sterling Capital Management LLC increased its holdings in Denali Therapeutics by 589.9% in the 4th quarter. Sterling Capital Management LLC now owns 1,773 shares of the company’s stock valued at $36,000 after purchasing an additional 1,516 shares in the last quarter. GF Fund Management CO. LTD. acquired a new stake in shares of Denali Therapeutics in the fourth quarter valued at about $62,000. Point72 Hong Kong Ltd purchased a new stake in shares of Denali Therapeutics during the 4th quarter valued at about $65,000. PNC Financial Services Group Inc. lifted its position in Denali Therapeutics by 30.5% during the 4th 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 in the last quarter. Finally, KBC Group NV lifted its position in Denali Therapeutics by 75.8% during the 4th quarter. KBC Group NV now owns 6,334 shares of the company’s stock worth $129,000 after acquiring an additional 2,731 shares in the last quarter. Hedge funds and other institutional investors 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.