Denali Therapeutics (NASDAQ:DNLI) Trading Down 8.3% - Here's What Happened

Shares of Denali Therapeutics Inc. (NASDAQ:DNLI - Get Free Report) dropped 8.3% on Friday . The stock traded as low as $26.06 and last traded at $26.09. Approximately 426,584 shares changed hands during trading, a decline of 60% from the average daily volume of 1,067,450 shares. The stock had previously closed at $28.45.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on DNLI. Wedbush cut their price target on shares of Denali Therapeutics from $30.00 to $26.00 and set an "outperform" rating for the company in a report on Friday, August 2nd. Cantor Fitzgerald downgraded Denali Therapeutics from an "overweight" rating to a "neutral" rating in a report on Monday, October 7th. Bank of America lifted their price target on Denali Therapeutics from $25.00 to $29.00 and gave the stock a "buy" rating in a research note on Wednesday, September 4th. Raymond James reiterated a "market perform" rating on shares of Denali Therapeutics in a report on Thursday, October 10th. Finally, Jefferies Financial Group boosted their price target on shares of Denali Therapeutics from $40.00 to $45.00 and gave the company a "buy" rating in a report on Friday, November 1st. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $38.90.

Denali Therapeutics Price Performance

The stock has a market cap of $3.71 billion, a PE ratio of -9.33 and a beta of 1.40. The business has a 50 day simple moving average of $28.20 and a 200 day simple moving average of $23.91.

Denali Therapeutics (NASDAQ:DNLI - Get Free Report) last posted its earnings results on Wednesday, November 6th. The company reported ($0.63) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.60) by ($0.03). During the same quarter in the previous year, the business posted ($0.72) EPS. As a group, sell-side analysts forecast that Denali Therapeutics Inc. will post -2.69 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Vicki L. Sato sold 1,020 shares of Denali Therapeutics stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $30.00, for a total transaction of $30,600.00. Following the transaction, the director now directly owns 111,056 shares of the company's stock, valued at $3,331,680. This trade represents a 0.91 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Steve E. Krognes sold 30,000 shares of the firm's stock in a transaction on Monday, September 30th. The stock was sold at an average price of $29.03, for a total value of $870,900.00. Following the sale, the director now directly owns 29,096 shares in the company, valued at $844,656.88. The trade was a 50.76 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 86,578 shares of company stock worth $2,474,440. Insiders own 7.90% of the company's stock.

Institutional Investors Weigh In On Denali Therapeutics

Several institutional investors have recently added to or reduced their stakes in the stock. GAMMA Investing LLC lifted its stake in Denali Therapeutics by 879.5% in the 2nd quarter. GAMMA Investing LLC now owns 2,057 shares of the company's stock valued at $48,000 after acquiring an additional 1,847 shares in the last quarter. CWM LLC grew its holdings in 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 buying an additional 654 shares in the last quarter. Quest Partners LLC acquired a new stake in shares of Denali Therapeutics during the 3rd quarter worth $73,000. Assetmark Inc. raised its position in Denali Therapeutics by 18.0% during the third quarter. Assetmark Inc. now owns 3,808 shares of the company's stock valued at $111,000 after purchasing an additional 580 shares in the last quarter. Finally, Headlands Technologies LLC bought a new position in Denali Therapeutics in the 1st quarter valued at approximately $88,000. 92.92% of the stock is owned by institutional investors.

Denali Therapeutics Company Profile

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.

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