Denali Therapeutics (NASDAQ:DNLI) Shares Down 4.1% After Insider Selling

Shares of Denali Therapeutics Inc. (NASDAQ:DNLI) traded down 4.1% on Monday after an insider sold shares in the company. The company traded as low as $20.25 and last traded at $20.39. 209,130 shares traded hands during mid-day trading, a decline of 56% from the average session volume of 479,181 shares. The stock had previously closed at $21.26.

Specifically, Director Vicki L. Sato sold 3,080 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $20.91, for a total value of $64,402.80. Following the completion of the sale, the director now directly owns 107,976 shares in the company, valued at $2,257,778.16. This trade represents a 2.77 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on DNLI. Stifel Nicolaus upgraded shares of Denali Therapeutics from a “hold” rating to a “buy” rating and set a $37.00 target price for the company in a research note on Monday, December 16th. Jefferies Financial Group boosted their price objective on Denali Therapeutics from $40.00 to $45.00 and gave the company a “buy” rating in a report on Friday, November 1st. JPMorgan Chase & Co. dropped their target price on Denali Therapeutics from $29.00 to $28.00 and set an “overweight” rating on the stock in a report on Friday, October 11th. HC Wainwright reissued a “buy” rating and issued a $90.00 price target on shares of Denali Therapeutics in a report on Thursday, November 7th. Finally, William Blair assumed coverage on shares of Denali Therapeutics in a research note on Friday. They set an “outperform” rating on the stock. Two research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $40.40.

Denali Therapeutics Stock Down 3.6 %

The stock’s 50-day simple moving average is $24.62 and its two-hundred day simple moving average is $24.88. The company has a market capitalization of $2.95 billion, a price-to-earnings ratio of -7.43 and a beta of 1.39.

Denali Therapeutics (NASDAQ:DNLI) last issued its quarterly earnings results on Wednesday, November 6th. The company reported ($0.63) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.60) by ($0.03). During the same quarter in the previous year, the firm earned ($0.72) EPS. On average, sell-side analysts forecast that Denali Therapeutics Inc. will post -2.71 EPS for the current year.

Institutional Trading of Denali Therapeutics

A number of institutional investors have recently made changes to their positions in the company. FMR LLC lifted its holdings in Denali Therapeutics by 3,234.3% in the 3rd quarter. FMR LLC now owns 7,831,378 shares of the company’s stock valued at $228,128,000 after purchasing an additional 7,596,508 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Denali Therapeutics by 63.2% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,749,486 shares of the company’s stock worth $109,223,000 after buying an additional 1,451,770 shares in the last quarter. Point72 Asset Management L.P. acquired a new position in Denali Therapeutics during the second quarter worth about $24,454,000. Wellington Management Group LLP grew its stake in Denali Therapeutics by 9.2% during the 3rd quarter. Wellington Management Group LLP now owns 10,727,450 shares of the company’s stock valued at $312,491,000 after acquiring an additional 903,683 shares in the last quarter. Finally, Integral Health Asset Management LLC acquired a new stake in Denali Therapeutics in the 2nd quarter valued at about $7,546,000. 92.92% of the stock is owned by institutional investors and hedge funds.

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.