Denali Therapeutics (NASDAQ:DNLI) Shares Down 7.7% - Here's Why

Shares of Denali Therapeutics Inc. (NASDAQ:DNLI - Get Free Report) were down 7.7% during mid-day trading on Monday . The stock traded as low as $13.53 and last traded at $13.64. Approximately 1,207,513 shares changed hands during mid-day trading, an increase of 18% from the average daily volume of 1,025,854 shares. The stock had previously closed at $14.78.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. Oppenheimer cut their price objective on Denali Therapeutics from $50.00 to $42.00 and set an "outperform" rating for the company in a research note on Monday, March 3rd. Robert W. Baird started coverage on Denali Therapeutics in a research note on Tuesday, January 7th. They issued an "outperform" rating and a $31.00 price objective for the company. Morgan Stanley started coverage on Denali Therapeutics in a report on Friday, March 7th. They issued an "overweight" rating and a $33.00 price objective on the stock. William Blair reiterated an "outperform" rating on shares of Denali Therapeutics in a research report on Friday, February 28th. Finally, The Goldman Sachs Group lowered their price target on shares of Denali Therapeutics from $45.00 to $40.00 and set a "buy" rating on the stock in a research report on Tuesday, January 28th. Two research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $37.20.

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Denali Therapeutics Stock Down 7.9 %

The firm has a 50-day moving average of $18.06 and a two-hundred day moving average of $22.71. The company has a market capitalization of $1.71 billion, a PE ratio of -4.27 and a beta of 1.58.

Denali Therapeutics (NASDAQ:DNLI - Get Free Report) last released its quarterly earnings results on Thursday, February 27th. The company reported ($0.67) earnings per share for the quarter, topping analysts' consensus estimates of ($0.75) by $0.08. On average, equities research analysts expect that Denali Therapeutics Inc. will post -2.71 EPS for the current year.

Insider Buying and Selling at Denali Therapeutics

In related news, CEO Ryan J. Watts sold 29,266 shares of the firm's stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $20.22, for a total transaction 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 $5,271,778.62. This trade represents a 10.09 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Carole Ho sold 12,255 shares of Denali Therapeutics stock in a transaction dated 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 transaction, the insider now directly owns 178,580 shares of the company's stock, valued at approximately $3,610,887.60. This represents a 6.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 44,860 shares of company stock worth $909,039 over the last three months. Insiders own 7.90% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Rhumbline Advisers grew its stake in shares of Denali Therapeutics by 0.3% in the fourth quarter. Rhumbline Advisers now owns 190,390 shares of the company's stock worth $3,880,000 after acquiring an additional 497 shares in the last quarter. PNC Financial Services Group Inc. boosted its holdings in Denali Therapeutics by 30.5% in the fourth 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 period. Sterling Capital Management LLC grew its stake in Denali Therapeutics by 589.9% during the 4th quarter. Sterling Capital Management LLC now owns 1,773 shares of the company's stock worth $36,000 after purchasing an additional 1,516 shares in the last quarter. The Manufacturers Life Insurance Company increased its holdings in Denali Therapeutics by 0.8% during the 4th quarter. The Manufacturers Life Insurance Company now owns 208,521 shares of the company's stock worth $4,250,000 after purchasing an additional 1,702 shares during the period. Finally, E Fund Management Co. Ltd. increased its holdings in Denali Therapeutics by 32.2% during the 4th quarter. E Fund Management Co. Ltd. now owns 9,997 shares of the company's stock worth $204,000 after purchasing an additional 2,436 shares during the period. Hedge funds and other institutional investors own 92.92% of the company's stock.

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.