Steve E. Krognes Sells 688 Shares of Denali Therapeutics Inc. (NASDAQ:DNLI) Stock

Denali Therapeutics Inc. (NASDAQ:DNLI) Director Steve E. Krognes sold 688 shares of the business’s stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $21.79, for a total transaction of $14,991.52. Following the completion of the transaction, the director now directly owns 52,620 shares of the company’s stock, valued at approximately $1,146,589.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Denali Therapeutics Trading Down 2.0 %

DNLI traded down $0.44 during trading on Wednesday, hitting $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 cap of $3.04 billion, a P/E ratio of -22.19 and a beta of 1.39. The stock has a 50 day moving average price of $19.80 and a 200 day moving average price 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 earnings results on Tuesday, May 7th. The company reported ($0.68) earnings per share for the quarter, beating the consensus estimate of ($0.69) by $0.01. During the same quarter in the previous year, the company earned ($0.80) earnings per share. Analysts forecast that Denali Therapeutics Inc. will post -2.78 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in DNLI. CWM LLC boosted its stake in Denali Therapeutics by 216.7% during the 4th quarter. CWM LLC now owns 2,011 shares of the company’s stock valued at $43,000 after acquiring an additional 1,376 shares during the last quarter. GAMMA Investing LLC boosted its stake in Denali Therapeutics by 879.5% during the 2nd quarter. GAMMA Investing LLC now owns 2,057 shares of the company’s stock valued at $48,000 after acquiring an additional 1,847 shares during the last quarter. PNC Financial Services Group Inc. boosted its stake in Denali Therapeutics by 48.1% during the 4th quarter. PNC Financial Services Group Inc. now owns 2,486 shares of the company’s stock valued at $53,000 after acquiring an additional 807 shares during the last quarter. Fisher Asset Management LLC bought a new position in Denali Therapeutics during the 4th quarter valued at $59,000. Finally, Assetmark Inc. boosted its stake in Denali Therapeutics by 65.3% during the 4th quarter. Assetmark Inc. now owns 3,550 shares of the company’s stock valued at $76,000 after acquiring an additional 1,402 shares during the last quarter. 92.92% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

DNLI has been the subject of a number of analyst reports. 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 research report on Tuesday, April 9th. Stifel Nicolaus dropped their price target on shares of Denali Therapeutics from $26.00 to $22.00 and set a “hold” rating for the company in a research report on Wednesday, May 8th. Wedbush dropped their price target on shares of Denali Therapeutics from $31.00 to $30.00 and set an “outperform” rating for the company in a research report on Wednesday, May 8th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $95.00 price target on shares of Denali Therapeutics in a research report on Wednesday, May 8th. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, Denali Therapeutics presently has an average rating of “Moderate Buy” and an average target price of $40.22.

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.