Denali Therapeutics Inc. (NASDAQ:DNLI) Short Interest Up 5.1% in January

Denali Therapeutics Inc. (NASDAQ:DNLI - Get Free Report) was the target of a significant growth in short interest in January. As of January 15th, there was short interest totalling 7,840,000 shares, a growth of 5.1% from the December 31st total of 7,460,000 shares. Approximately 6.3% of the shares of the stock are sold short. Based on an average daily trading volume, of 868,500 shares, the days-to-cover ratio is presently 9.0 days.

Denali Therapeutics Price Performance

Shares of Denali Therapeutics stock traded down $0.28 during trading on Friday, hitting $22.25. The company's stock had a trading volume of 817,231 shares, compared to its average volume of 1,014,313. The stock has a market cap of $3.20 billion, a price-to-earnings ratio of -8.06 and a beta of 1.43. Denali Therapeutics has a 52 week low of $14.56 and a 52 week high of $33.33. The stock has a 50-day moving average price of $22.25 and a two-hundred day moving average price of $24.83.

Denali Therapeutics (NASDAQ:DNLI - Get Free Report) last released its quarterly earnings results on Wednesday, November 6th. The company reported ($0.63) 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. On average, equities analysts predict that Denali Therapeutics will post -2.74 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

DNLI has been the topic of several research analyst reports. Baird R W raised Denali Therapeutics to a "strong-buy" rating in a research note on Tuesday, January 7th. William Blair restated an "outperform" rating on shares of Denali Therapeutics in a research note on Wednesday, January 15th. Raymond James reiterated a "market perform" rating on shares of Denali Therapeutics in a research report on Thursday, October 10th. Jefferies Financial Group raised their target price on shares of Denali Therapeutics from $40.00 to $45.00 and gave the company a "buy" rating in a research report on Friday, November 1st. Finally, JPMorgan Chase & Co. decreased their target price on shares of Denali Therapeutics from $28.00 to $24.00 and set an "overweight" rating on the stock in a research note on Tuesday, January 7th. Two analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Denali Therapeutics has a consensus rating of "Moderate Buy" and a consensus target price of $38.00.

Insider Buying and Selling

In other Denali Therapeutics news, Director Steve E. Krognes sold 3,339 shares of the business's stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $20.81, for a total transaction of $69,484.59. Following the completion of the transaction, the director now directly owns 25,757 shares in the company, valued at $536,003.17. The trade was a 11.48 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Carole Ho sold 12,255 shares of the firm's stock in a transaction on Monday, January 6th. The shares were 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 directly owns 178,580 shares in the company, valued at approximately $3,610,887.60. This represents a 6.42 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 47,940 shares of company stock valued at $973,442 over the last 90 days. 7.90% of the stock is owned by corporate insiders.

Institutional Trading of Denali Therapeutics

Several institutional investors have recently added to or reduced their stakes in the stock. Sei Investments Co. lifted its position in shares of Denali Therapeutics by 87.8% in the 2nd quarter. Sei Investments Co. now owns 22,670 shares of the company's stock worth $526,000 after purchasing an additional 10,598 shares during the period. Millennium Management LLC grew its holdings in Denali Therapeutics by 58.7% during the 2nd quarter. Millennium Management LLC now owns 619,929 shares of the company's stock worth $14,395,000 after acquiring an additional 229,313 shares during the period. The Manufacturers Life Insurance Company increased its holdings in Denali Therapeutics by 15.5% in the second quarter. The Manufacturers Life Insurance Company now owns 172,281 shares of the company's stock worth $4,000,000 after purchasing an additional 23,165 shares in the last quarter. Creative Planning lifted its stake in Denali Therapeutics by 8.7% in the second quarter. Creative Planning now owns 43,033 shares of the company's stock valued at $999,000 after buying an additional 3,458 shares during the period. Finally, CWM LLC increased its stake in shares of Denali Therapeutics by 43.6% in the 3rd quarter. CWM LLC now owns 2,153 shares of the company's stock valued at $63,000 after acquiring an additional 654 shares in the last quarter. 92.92% of the stock is currently owned by 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.