Denali Therapeutics (NASDAQ:DNLI) Stock Price Down 4.9% – Here’s Why

Denali Therapeutics Inc. (NASDAQ:DNLI)’s stock price was down 4.9% during mid-day trading on Monday . The company traded as low as $21.33 and last traded at $21.16. Approximately 143,506 shares changed hands during mid-day trading, a decline of 85% from the average daily volume of 979,665 shares. The stock had previously closed at $22.25.

Analyst Ratings Changes

Several research analysts recently commented on DNLI shares. William Blair reissued an “outperform” rating on shares of Denali Therapeutics in a research note on Wednesday, January 15th. Robert W. Baird started coverage on shares of Denali Therapeutics in a research report on Tuesday, January 7th. They issued an “outperform” rating and a $31.00 target price for the company. Deutsche Bank Aktiengesellschaft started coverage on shares of Denali Therapeutics in a research report on Tuesday. They set a “buy” rating and a $31.00 price target on the stock. Stifel Nicolaus upgraded shares of Denali Therapeutics from a “hold” rating to a “buy” rating and set a $37.00 price objective for the company in a report on Monday, December 16th. Finally, Baird R W raised shares of Denali Therapeutics to a “strong-buy” rating in a research note on Tuesday, January 7th. Two research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $37.42.

Denali Therapeutics Price Performance

The company has a market cap of $3.00 billion, a price-to-earnings ratio of -7.54 and a beta of 1.43. The firm has a 50 day simple moving average of $22.03 and a 200-day simple moving average of $24.79.

Insider Buying and Selling

In related news, Director Steve E. Krognes sold 3,339 shares of the stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $20.81, for a total transaction of $69,484.59. Following the transaction, the director now owns 25,757 shares of the company’s stock, valued at approximately $536,003.17. This represents a 11.48 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Vicki L. Sato sold 3,080 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $20.91, for a total value of $64,402.80. Following the transaction, the director now owns 107,976 shares of the company’s stock, valued at $2,257,778.16. This trade represents a 2.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 47,940 shares of company stock valued at $973,442. 7.90% of the stock is currently owned by insiders.

Institutional Trading of Denali Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of DNLI. CWM LLC boosted its holdings in Denali Therapeutics by 43.6% in the third quarter. CWM LLC now owns 2,153 shares of the company’s stock valued at $63,000 after purchasing an additional 654 shares during the period. Quest Partners LLC purchased a new stake in Denali Therapeutics during the 3rd quarter worth about $73,000. PNC Financial Services Group Inc. raised its position in Denali Therapeutics by 30.5% in the 4th quarter. PNC Financial Services Group Inc. now owns 3,790 shares of the company’s stock valued at $77,000 after purchasing an additional 885 shares in the last quarter. Assetmark Inc. boosted its stake in shares of Denali Therapeutics by 18.0% in the 3rd quarter. Assetmark Inc. now owns 3,808 shares of the company’s stock valued at $111,000 after buying an additional 580 shares during the period. Finally, KBC Group NV grew its position in shares of Denali Therapeutics by 75.8% during the fourth quarter. KBC Group NV now owns 6,334 shares of the company’s stock worth $129,000 after buying an additional 2,731 shares in the last quarter. 92.92% of the stock is currently owned by hedge funds and other institutional investors.

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.