Insider Selling: Denali Therapeutics Inc. (NASDAQ:DNLI) Director Sells 92,500 Shares of Stock

Denali Therapeutics Inc. (NASDAQ:DNLI) Director Steve E. Krognes sold 92,500 shares of Denali Therapeutics stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $20.50, for a total transaction of $1,896,250.00. Following the completion of the sale, the director now owns 47,341 shares of the company’s stock, valued at $970,490.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

Denali Therapeutics Stock Performance

DNLI stock opened at $18.99 on Friday. The company’s 50 day moving average price is $18.94 and its 200 day moving average price is $19.50. Denali Therapeutics Inc. has a fifty-two week low of $15.45 and a fifty-two week high of $33.31. The firm has a market capitalization of $2.64 billion, a price-to-earnings ratio of -17.58 and a beta of 1.33.

Denali Therapeutics (NASDAQ:DNLI) last announced its quarterly earnings results on Tuesday, February 27th. The company reported ($0.86) EPS for the quarter, missing the consensus estimate of ($0.81) by ($0.05). Denali Therapeutics had a negative net margin of 36.51% and a negative return on equity of 13.50%. During the same quarter in the previous year, the business earned ($0.75) earnings per share. Equities analysts forecast that Denali Therapeutics Inc. will post -2.62 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have commented on DNLI. Wedbush restated an “outperform” rating and set a $31.00 price objective on shares of Denali Therapeutics in a research note on Wednesday, February 28th. HC Wainwright cut their target price on shares of Denali Therapeutics from $105.00 to $95.00 and set a “buy” rating for the company in a report on Wednesday, February 28th. Citigroup assumed coverage on shares of Denali Therapeutics in a report on Wednesday, December 13th. They issued a “buy” rating and a $32.00 price target for the company. Finally, The Goldman Sachs Group lowered their target price on shares of Denali Therapeutics from $73.00 to $50.00 and set a “buy” rating on the stock in a research note on Thursday, February 29th. Eight investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $44.67.

Hedge Funds Weigh In On Denali Therapeutics

Several hedge funds have recently added to or reduced their stakes in DNLI. Norges Bank purchased a new position in Denali Therapeutics in the fourth quarter valued at approximately $24,736,000. State Street Corp increased its stake in Denali Therapeutics by 26.4% in the first quarter. State Street Corp now owns 3,826,792 shares of the company’s stock valued at $123,108,000 after purchasing an additional 799,221 shares during the last quarter. Millennium Management LLC purchased a new position in Denali Therapeutics in the second quarter valued at approximately $18,992,000. Point72 Asset Management L.P. purchased a new position in Denali Therapeutics in the fourth quarter valued at approximately $13,829,000. Finally, BlackRock Inc. increased its stake in Denali Therapeutics by 6.7% in the second quarter. BlackRock Inc. now owns 10,106,275 shares of the company’s stock valued at $298,236,000 after purchasing an additional 631,878 shares during the last quarter. 92.92% of the stock is currently 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.