Denali Therapeutics (NASDAQ:DNLI) Stock Price Down 4.9% - Should You Sell?

Denali Therapeutics Inc. (NASDAQ:DNLI - Get Free Report) shares were down 4.9% during trading on Monday . The company traded as low as $21.33 and last traded at $21.16. Approximately 143,506 shares traded 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.

Analysts Set New Price Targets

A number of research analysts have recently commented on DNLI shares. JPMorgan Chase & Co. decreased their price objective on shares of Denali Therapeutics from $28.00 to $24.00 and set an "overweight" rating for the company in a research report on Tuesday, January 7th. 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 price objective for the company. Baird R W raised shares of Denali Therapeutics to a "strong-buy" rating in a research report on Tuesday, January 7th. Stifel Nicolaus raised shares of Denali Therapeutics from a "hold" rating to a "buy" rating and set a $37.00 price objective for the company in a research report on Monday, December 16th. Finally, Jefferies Financial Group lifted their price objective 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. Two research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Denali Therapeutics currently has an average rating of "Moderate Buy" and a consensus target price of $37.42.

Denali Therapeutics Trading Up 0.3 %

The firm's 50 day simple moving average is $21.86 and its two-hundred day simple moving average is $24.72. The firm has a market cap of $3.08 billion, a price-to-earnings ratio of -7.74 and a beta of 1.43.

Insiders Place Their Bets

In other news, CEO Ryan J. Watts sold 29,266 shares of the business's stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $20.22, for a total value of $591,758.52. Following the completion of the transaction, the chief executive officer now directly owns 260,721 shares in the company, valued at approximately $5,271,778.62. The trade was a 10.09 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Vicki L. Sato sold 3,080 shares of the business's stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $20.91, for a total transaction of $64,402.80. Following the completion of the transaction, the director now owns 107,976 shares of the company's stock, valued at $2,257,778.16. The trade was a 2.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 47,940 shares of company stock worth $973,442 in the last quarter. 7.90% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Denali Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in the company. MONECO Advisors LLC grew its holdings in shares of Denali Therapeutics by 4.6% during the 3rd quarter. MONECO Advisors LLC now owns 9,100 shares of the company's stock valued at $265,000 after purchasing an additional 400 shares during the last quarter. Rhumbline Advisers grew its holdings in shares of Denali Therapeutics by 0.3% during the 4th quarter. Rhumbline Advisers now owns 190,390 shares of the company's stock valued at $3,880,000 after purchasing an additional 497 shares during the last quarter. Assetmark Inc. grew its holdings in shares of Denali Therapeutics by 18.0% during the 3rd quarter. Assetmark Inc. now owns 3,808 shares of the company's stock valued at $111,000 after purchasing an additional 580 shares during the last quarter. CWM LLC grew its holdings in shares of Denali Therapeutics by 43.6% during the 3rd 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 last quarter. Finally, PNC Financial Services Group Inc. grew its holdings in shares of Denali Therapeutics by 30.5% during 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 during the last quarter. 92.92% of the stock is currently owned by institutional investors and hedge funds.

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.