Short Interest in Denali Therapeutics Inc. (NASDAQ:DNLI) Expands By 12.7%

Denali Therapeutics Inc. (NASDAQ:DNLI) was the recipient of a significant growth in short interest in October. As of October 31st, there was short interest totalling 10,730,000 shares, a growth of 12.7% from the October 15th total of 9,520,000 shares. Approximately 9.5% of the company’s stock are short sold. Based on an average trading volume of 772,300 shares, the days-to-cover ratio is currently 13.9 days.

Insider Activity at Denali Therapeutics

In related news, insider Carole Ho sold 2,522 shares of Denali Therapeutics stock in a transaction dated Wednesday, August 23rd. The stock was sold at an average price of $23.22, for a total value of $58,560.84. Following the completion of the sale, the insider now directly owns 182,809 shares in the company, valued at $4,244,824.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Denali Therapeutics news, insider Carole Ho sold 2,522 shares of Denali Therapeutics stock in a transaction dated Wednesday, August 23rd. The stock was sold at an average price of $23.22, for a total value of $58,560.84. Following the transaction, the insider now owns 182,809 shares in the company, valued at $4,244,824.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Steve E. Krognes sold 1,419 shares of Denali Therapeutics stock in a transaction dated Monday, August 21st. The shares were sold at an average price of $22.60, for a total value of $32,069.40. Following the completion of the transaction, the director now owns 145,799 shares in the company, valued at approximately $3,295,057.40. The disclosure for this sale can be found here. Insiders sold 19,932 shares of company stock worth $444,667 over the last three months. 7.90% of the stock is owned by corporate insiders.

Institutional Trading of Denali Therapeutics

Hedge funds have recently added to or reduced their stakes in the business. Norges Bank purchased a new stake in shares of Denali Therapeutics during the 4th quarter worth about $28,483,000. State Street Corp raised its position in shares of Denali Therapeutics by 26.4% during the 1st quarter. State Street Corp now owns 3,826,792 shares of the company’s stock valued at $123,108,000 after acquiring an additional 799,221 shares in the last quarter. Millennium Management LLC bought a new position in Denali Therapeutics during the 2nd quarter worth $18,992,000. BlackRock Inc. grew its stake in Denali Therapeutics by 6.7% during the 2nd quarter. BlackRock Inc. now owns 10,106,275 shares of the company’s stock worth $298,236,000 after buying an additional 631,878 shares during the last quarter. Finally, Polar Capital Holdings Plc grew its stake in Denali Therapeutics by 99.4% during the 2nd quarter. Polar Capital Holdings Plc now owns 1,007,086 shares of the company’s stock worth $29,719,000 after buying an additional 502,086 shares during the last quarter. 78.04% of the stock is owned by institutional investors and hedge funds.

Denali Therapeutics Price Performance

Shares of NASDAQ DNLI opened at $18.13 on Friday. The stock’s 50-day simple moving average is $20.57 and its 200-day simple moving average is $25.40. Denali Therapeutics has a fifty-two week low of $15.45 and a fifty-two week high of $33.31.

Denali Therapeutics (NASDAQ:DNLI) last announced its quarterly earnings data on Tuesday, November 7th. The company reported ($0.72) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.81) by $0.09. The firm had revenue of $1.30 million for the quarter, compared to analyst estimates of $11.16 million. Denali Therapeutics had a negative return on equity of 11.54% and a negative net margin of 36.51%. Denali Therapeutics’s quarterly revenue was down 63.9% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.84) earnings per share. As a group, research analysts predict that Denali Therapeutics will post -1.03 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on DNLI shares. B. Riley started coverage on Denali Therapeutics in a research note on Wednesday, September 6th. They set a “buy” rating and a $38.00 price target on the stock. HC Wainwright reiterated a “buy” rating and issued a $105.00 target price on shares of Denali Therapeutics in a research report on Thursday, August 31st. Wedbush reissued an “outperform” rating and issued a $31.00 price target on shares of Denali Therapeutics in a report on Wednesday, November 8th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $35.00 target price (down from $85.00) on shares of Denali Therapeutics in a research note on Tuesday, October 24th. Finally, TheStreet cut Denali Therapeutics from a “c-” rating to a “d+” rating in a research report on Wednesday, September 6th. Eleven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Denali Therapeutics presently has a consensus rating of “Buy” and an average target price of $52.20.

About Denali Therapeutics

Denali Therapeutics Inc, a biopharmaceutical company, developing a portfolio of product candidates engineered to cross the blood-brain barrier for neurodegenerative diseases and lysosomal storage diseases. It pursues new treatments by assessing genetically validated targets, engineering delivery across the blood-brain barrier, and guiding development through biomarkers that demonstrate target and pathway engagement.