Insider Selling: Denali Therapeutics Inc. (NASDAQ:DNLI) Director Sells 30,000 Shares of Stock

Denali Therapeutics Inc. (NASDAQ:DNLI) Director Steve E. Krognes sold 30,000 shares of the stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $22.12, for a total transaction of $663,600.00. Following the sale, the director now directly owns 34,404 shares of the company’s stock, valued at approximately $761,016.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Denali Therapeutics Stock Down 2.0 %

NASDAQ:DNLI traded down $0.44 during trading hours on Wednesday, reaching $21.30. 491,640 shares of the company’s stock were exchanged, compared to its average volume of 1,199,496. The firm has a market capitalization of $3.04 billion, a price-to-earnings ratio of -22.19 and a beta of 1.39. The company has a 50-day moving average of $19.80 and a 200 day moving average of $19.28. Denali Therapeutics Inc. has a 1-year low of $14.56 and a 1-year high of $30.79.

Denali Therapeutics (NASDAQ:DNLI) last announced its quarterly earnings data on Tuesday, May 7th. The company reported ($0.68) EPS for the quarter, topping analysts’ consensus estimates of ($0.69) by $0.01. During the same quarter in the previous year, the company posted ($0.80) EPS. Research analysts forecast that Denali Therapeutics Inc. will post -2.78 EPS for the current fiscal year.

Hedge Funds Weigh In On Denali Therapeutics

A number of large investors have recently made changes to their positions in the stock. Vanguard Group Inc. increased its holdings in Denali Therapeutics by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 10,968,293 shares of the company’s stock valued at $225,069,000 after acquiring an additional 133,810 shares in the last quarter. Wellington Management Group LLP boosted its stake in shares of Denali Therapeutics by 3.6% during the 3rd quarter. Wellington Management Group LLP now owns 7,288,960 shares of the company’s stock worth $150,371,000 after purchasing an additional 250,784 shares during the last quarter. Capital Research Global Investors boosted its position in shares of Denali Therapeutics by 107.9% in the first quarter. Capital Research Global Investors now owns 6,049,957 shares of the company’s stock worth $124,145,000 after acquiring an additional 3,140,429 shares during the last quarter. Baker BROS. Advisors LP boosted its position in shares of Denali Therapeutics by 43.1% in the first quarter. Baker BROS. Advisors LP now owns 3,731,695 shares of the company’s stock worth $76,574,000 after acquiring an additional 1,124,499 shares during the last quarter. Finally, Norges Bank acquired a new stake in shares of Denali Therapeutics in the fourth quarter worth approximately $24,736,000. Hedge funds and other institutional investors own 92.92% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Wedbush cut their price target on shares of Denali Therapeutics from $31.00 to $30.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 8th. UBS Group cut their price objective on shares of Denali Therapeutics from $70.00 to $32.00 and set a “buy” rating for the company in a report on Tuesday, April 9th. HC Wainwright reaffirmed a “buy” rating and issued a $95.00 price objective on shares of Denali Therapeutics in a report on Wednesday, May 8th. Finally, Stifel Nicolaus dropped their target price on shares of Denali Therapeutics from $26.00 to $22.00 and set a “hold” rating on the stock in a research report on Wednesday, May 8th. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $40.22.

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.