Steve E. Krognes Sells 30,000 Shares of Denali Therapeutics Inc. (NASDAQ:DNLI) Stock

Denali Therapeutics Inc. (NASDAQ:DNLI) Director Steve E. Krognes sold 30,000 shares of Denali Therapeutics stock in a transaction on Monday, September 30th. The stock was sold at an average price of $29.03, for a total value of $870,900.00. Following the sale, the director now directly owns 29,096 shares of the company’s stock, valued at approximately $844,656.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Denali Therapeutics Stock Down 2.8 %

Denali Therapeutics stock opened at $28.22 on Friday. Denali Therapeutics Inc. has a 12-month low of $14.56 and a 12-month high of $32.13. The business’s 50-day moving average price is $25.76 and its two-hundred day moving average price is $21.98. The stock has a market cap of $4.02 billion, a PE ratio of -29.40 and a beta of 1.37.

Denali Therapeutics (NASDAQ:DNLI) last released its earnings results on Thursday, August 1st. The company reported ($0.59) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.68) by $0.09. The business had revenue of $1.00 million during the quarter, compared to the consensus estimate of $10.00 million. During the same quarter in the prior year, the firm earned $1.30 EPS. The business’s revenue was down 99.7% on a year-over-year basis. As a group, analysts expect that Denali Therapeutics Inc. will post -2.54 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms have recently weighed in on DNLI. Bank of America lifted their target price on Denali Therapeutics from $25.00 to $29.00 and gave the stock a “buy” rating in a report on Wednesday, September 4th. Wedbush dropped their price target on Denali Therapeutics from $30.00 to $26.00 and set an “outperform” rating for the company in a research note on Friday, August 2nd. JPMorgan Chase & Co. boosted their price target on Denali Therapeutics from $28.00 to $29.00 and gave the company an “overweight” rating in a research note on Wednesday, July 10th. Citigroup boosted their price target on Denali Therapeutics from $26.00 to $32.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $35.00 price target on shares of Denali Therapeutics in a research note on Monday, September 9th. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $38.33.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. PNC Financial Services Group Inc. grew its holdings in shares of Denali Therapeutics by 48.1% during the fourth quarter. PNC Financial Services Group Inc. now owns 2,486 shares of the company’s stock worth $53,000 after purchasing an additional 807 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Denali Therapeutics by 5.5% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 26,403 shares of the company’s stock worth $613,000 after purchasing an additional 1,372 shares during the last quarter. Swiss National Bank grew its holdings in shares of Denali Therapeutics by 0.7% during the first quarter. Swiss National Bank now owns 218,200 shares of the company’s stock worth $4,477,000 after purchasing an additional 1,500 shares during the last quarter. GAMMA Investing LLC grew its holdings in shares of Denali Therapeutics by 879.5% during the second quarter. GAMMA Investing LLC now owns 2,057 shares of the company’s stock worth $48,000 after purchasing an additional 1,847 shares during the last quarter. Finally, Arizona State Retirement System grew its holdings in shares of Denali Therapeutics by 9.0% during the second quarter. Arizona State Retirement System now owns 33,114 shares of the company’s stock worth $769,000 after purchasing an additional 2,730 shares during the last quarter. 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.