Denali Therapeutics (NASDAQ:DNLI) Shares Down 5.8%

Denali Therapeutics Inc. (NASDAQ:DNLIGet Free Report) dropped 5.8% during trading on Monday . The stock traded as low as $21.81 and last traded at $21.88. Approximately 590,228 shares were traded during trading, a decline of 51% from the average daily volume of 1,198,983 shares. The stock had previously closed at $23.22.

Wall Street Analysts Forecast Growth

DNLI has been the topic of a number of recent research reports. HC Wainwright reiterated a “buy” rating and issued a $95.00 target price on shares of Denali Therapeutics in a report on Wednesday, May 8th. Stifel Nicolaus dropped their price objective on shares of Denali Therapeutics from $26.00 to $22.00 and set a “hold” rating on the stock in a research note on Wednesday, May 8th. UBS Group reduced 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. Finally, Wedbush lowered their target price on shares of Denali Therapeutics from $31.00 to $30.00 and set an “outperform” rating on the stock in a report on Wednesday, May 8th. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, Denali Therapeutics has an average rating of “Moderate Buy” and a consensus target price of $40.22.

Check Out Our Latest Analysis on DNLI

Denali Therapeutics Price Performance

The stock has a market capitalization of $3.16 billion, a P/E ratio of -22.76 and a beta of 1.39. The stock has a fifty day moving average price of $19.46 and a 200 day moving average price of $19.29.

Denali Therapeutics (NASDAQ:DNLIGet Free Report) last announced its quarterly 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 period in the prior year, the firm earned ($0.80) EPS. Research analysts anticipate that Denali Therapeutics Inc. will post -2.78 earnings per share for the current year.

Insider Transactions at Denali Therapeutics

In related news, Director Jennifer E. Cook sold 1,458 shares of the business’s stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $21.73, for a total transaction of $31,682.34. Following the completion of the transaction, the director now directly owns 20,038 shares in the company, valued at $435,425.74. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other news, Director Vicki L. Sato sold 1,666 shares of Denali Therapeutics stock in a transaction on Monday, April 15th. The shares were sold at an average price of $18.29, for a total transaction of $30,471.14. Following the completion of the sale, the director now directly owns 118,043 shares of the company’s stock, valued at approximately $2,159,006.47. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jennifer E. Cook sold 1,458 shares of the company’s stock in a transaction on Thursday, June 6th. The stock was sold at an average price of $21.73, for a total transaction of $31,682.34. Following the completion of the transaction, the director now owns 20,038 shares of the company’s stock, valued at $435,425.74. The disclosure for this sale can be found here. Insiders own 7.90% of the company’s stock.

Institutional Investors Weigh In On Denali Therapeutics

Several hedge funds have recently added to or reduced their stakes in DNLI. Rhumbline Advisers boosted its stake in shares of Denali Therapeutics by 4.4% in the 3rd quarter. Rhumbline Advisers now owns 169,124 shares of the company’s stock valued at $3,489,000 after purchasing an additional 7,142 shares in the last quarter. Hsbc Holdings PLC purchased a new stake in Denali Therapeutics during the third quarter valued at about $359,000. Northern Trust Corp grew its stake in shares of Denali Therapeutics by 2.5% during the third quarter. Northern Trust Corp now owns 1,116,742 shares of the company’s stock valued at $23,038,000 after buying an additional 27,044 shares during the last quarter. Teza Capital Management LLC purchased a new position in shares of Denali Therapeutics in the third quarter worth about $446,000. Finally, Gotham Asset Management LLC bought a new stake in shares of Denali Therapeutics in the 3rd quarter valued at about $400,000. Institutional investors own 92.92% of the company’s stock.

About Denali Therapeutics

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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.

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