Denali Therapeutics (NASDAQ:DNLI) Cut to “Sell” at Wall Street Zen

Wall Street Zen lowered shares of Denali Therapeutics (NASDAQ:DNLI) from a hold rating to a sell rating in a report released on Saturday morning,Wall Street Zen reports.

A number of other research firms have also issued reports on DNLI. Stifel Nicolaus set a $41.00 price target on shares of Denali Therapeutics in a research report on Monday, June 22nd. Morgan Stanley upped their price objective on shares of Denali Therapeutics from $35.00 to $36.00 and gave the company an “overweight” rating in a report on Thursday, July 23rd. Sanford C. Bernstein reaffirmed a “hold” rating on shares of Denali Therapeutics in a report on Monday, June 22nd. JPMorgan Chase & Co. initiated coverage on shares of Denali Therapeutics in a research note on Monday, July 13th. They issued an “overweight” rating and a $29.00 price objective on the stock. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Denali Therapeutics in a report on Friday, July 17th. Thirteen equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $35.85.

Denali Therapeutics Stock Down 2.6%

DNLI stock opened at $18.95 on Friday. The firm has a 50 day moving average of $22.31 and a 200 day moving average of $21.83. The stock has a market capitalization of $3.03 billion, a PE ratio of -6.67 and a beta of 1.02. The company has a quick ratio of 8.32, a current ratio of 8.37 and a debt-to-equity ratio of 0.01. Denali Therapeutics has a 52 week low of $13.75 and a 52 week high of $27.30.

Denali Therapeutics (NASDAQ:DNLI) last released its earnings results on Thursday, August 6th. The company reported ($0.68) earnings per share for the quarter, missing the consensus estimate of ($0.51) by ($0.17). The business had revenue of $3.60 million for the quarter, compared to the consensus estimate of $2.15 million. During the same quarter in the previous year, the company posted ($0.72) earnings per share. Sell-side analysts forecast that Denali Therapeutics will post -2.67 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Alexander O. Schuth sold 2,857 shares of Denali Therapeutics stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $25.07, for a total value of $71,624.99. Following the sale, the insider directly owned 281,763 shares in the company, valued at approximately $7,063,798.41. The trade was a 1.00% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 9.70% of the company’s stock.

Institutional Trading of Denali Therapeutics

A number of institutional investors have recently made changes to their positions in DNLI. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in shares of Denali Therapeutics in the second quarter valued at approximately $26,000. Global Retirement Partners LLC acquired a new stake in shares of Denali Therapeutics in the second quarter valued at approximately $28,000. Nykredit A S purchased a new position in Denali Therapeutics during the second quarter worth approximately $38,000. GAMMA Investing LLC lifted its position in Denali Therapeutics by 44.4% during the third quarter. GAMMA Investing LLC now owns 2,236 shares of the company’s stock worth $46,000 after buying an additional 687 shares in the last quarter. Finally, Allworth Financial LP purchased a new position in Denali Therapeutics during the second quarter worth approximately $47,000. 92.92% of the stock is owned by institutional investors and hedge funds.

About Denali Therapeutics

Denali Therapeutics Inc is a biopharmaceutical company focused on discovering and developing medicines for patients with neurodegenerative diseases. The company’s research programs address conditions involving the central nervous system, including Parkinson’s disease, Alzheimer’s disease, amyotrophic lateral sclerosis and lysosomal storage disorders.

Denali’s drug-discovery approach is built around its Transport Vehicle platform, which is designed to help therapeutic molecules cross the blood-brain barrier and reach the brain.