Denali Therapeutics (NASDAQ:DNLI) Shares Down 6.2% – Time to Sell?

Denali Therapeutics Inc. (NASDAQ:DNLI)’s share price was down 6.2% during trading on Monday . The stock traded as low as $21.69 and last traded at $21.86. Approximately 325,649 shares changed hands during trading, a decline of 68% from the average daily volume of 1,002,596 shares. The stock had previously closed at $23.30.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Baird R W upgraded Denali Therapeutics to a “strong-buy” rating in a research report on Tuesday, January 7th. HC Wainwright cut their price target on shares of Denali Therapeutics from $90.00 to $87.00 and set a “buy” rating for the company in a report on Tuesday, January 7th. William Blair reaffirmed an “outperform” rating on shares of Denali Therapeutics in a report on Wednesday, January 15th. JPMorgan Chase & Co. cut their target price on shares of Denali Therapeutics from $28.00 to $24.00 and set an “overweight” rating for the company in a research note on Tuesday, January 7th. Finally, Robert W. Baird assumed coverage on shares of Denali Therapeutics in a research note on Tuesday, January 7th. They issued an “outperform” rating and a $31.00 price target on the stock. Two research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Denali Therapeutics currently has a consensus rating of “Moderate Buy” and an average price target of $38.00.

Denali Therapeutics Stock Performance

The firm’s 50-day simple moving average is $22.30 and its 200 day simple moving average is $24.85. The stock has a market capitalization of $3.40 billion, a P/E ratio of -8.55 and a beta of 1.43.

Denali Therapeutics (NASDAQ:DNLI) last released its earnings results on Wednesday, November 6th. The company reported ($0.63) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.60) by ($0.03). During the same quarter in the previous year, the company posted ($0.72) earnings per share. As a group, research analysts expect that Denali Therapeutics Inc. will post -2.74 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Vicki L. Sato sold 1,020 shares of the company’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $30.00, for a total transaction of $30,600.00. Following the completion of the transaction, the director now owns 111,056 shares in the company, valued at $3,331,680. This represents a 0.91 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Carole Ho sold 12,255 shares of the company’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $20.22, for a total value of $247,796.10. Following the completion of the sale, the insider now owns 178,580 shares in the company, valued at $3,610,887.60. The trade was a 6.42 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 64,518 shares of company stock valued at $1,469,382. Company insiders own 7.90% of the company’s stock.

Institutional Trading of Denali Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in DNLI. Wellington Management Group LLP grew its stake in Denali Therapeutics by 9.2% in 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 during the period. FMR LLC grew its holdings in shares of Denali Therapeutics by 3,234.3% during the 3rd quarter. FMR LLC now owns 7,831,378 shares of the company’s stock worth $228,128,000 after purchasing an additional 7,596,508 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Denali Therapeutics by 63.2% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,749,486 shares of the company’s stock valued at $109,223,000 after purchasing an additional 1,451,770 shares during the last quarter. Principal Financial Group Inc. lifted its position in shares of Denali Therapeutics by 13.8% during the third quarter. Principal Financial Group Inc. now owns 1,238,476 shares of the company’s stock worth $36,076,000 after purchasing an additional 149,939 shares in the last quarter. Finally, Fisher Asset Management LLC increased its position in shares of Denali Therapeutics by 44.8% during the fourth quarter. Fisher Asset Management LLC now owns 792,499 shares of the company’s stock worth $16,151,000 after acquiring an additional 245,168 shares during the period. 92.92% of the stock is owned by hedge funds and other institutional investors.

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.