Denali Therapeutics Inc. (NASDAQ:DNLI) Short Interest Up 16.3% in August

Denali Therapeutics Inc. (NASDAQ:DNLI - Get Free Report) saw a large increase in short interest in the month of August. As of August 15th, there was short interest totalling 8,360,000 shares, an increase of 16.3% from the July 31st total of 7,190,000 shares. Based on an average trading volume of 1,140,000 shares, the short-interest ratio is presently 7.3 days. Currently, 7.0% of the shares of the company are short sold.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on DNLI shares. HC Wainwright restated a "buy" rating and set a $90.00 target price on shares of Denali Therapeutics in a research report on Thursday, August 15th. JPMorgan Chase & Co. increased their price objective on shares of Denali Therapeutics from $28.00 to $29.00 and gave the company an "overweight" rating in a report on Wednesday, July 10th. Wedbush reduced their price target on shares of Denali Therapeutics from $30.00 to $26.00 and set an "outperform" rating on the stock in a research report on Friday, August 2nd. Stifel Nicolaus reduced their target price on shares of Denali Therapeutics from $26.00 to $22.00 and set a "hold" rating on the stock in a report on Wednesday, May 8th. Finally, Citigroup increased their price target on shares of Denali Therapeutics from $26.00 to $32.00 and gave the company a "buy" rating in a report on Friday, August 2nd. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $39.33.

Denali Therapeutics Stock Up 0.2 %

Denali Therapeutics stock traded up $0.04 during midday trading on Monday, reaching $24.44. The stock had a trading volume of 763,600 shares, compared to its average volume of 1,135,657. The firm has a market cap of $3.50 billion, a price-to-earnings ratio of -25.46 and a beta of 1.40. Denali Therapeutics has a 52-week low of $14.56 and a 52-week high of $25.90. The company has a fifty day moving average of $23.06 and a 200 day moving average of $20.59.

Denali Therapeutics (NASDAQ:DNLI - Get Free Report) last issued its quarterly earnings results on Thursday, August 1st. The company reported ($0.59) earnings per share for the quarter, topping the consensus estimate of ($0.68) by $0.09. The business had revenue of $1.00 million during the quarter, compared to analysts' expectations of $10.00 million. During the same quarter in the previous year, the company posted $1.30 earnings per share. The company's quarterly revenue was down 99.7% compared to the same quarter last year. Equities research analysts predict that Denali Therapeutics will post -2.54 EPS for the current year.

Insiders Place Their Bets

In other Denali Therapeutics news, Director Steve E. Krognes sold 30,000 shares of the company's stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $22.12, for a total value of $663,600.00. Following the completion of the transaction, the director now directly owns 34,404 shares in the company, valued at $761,016.48. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, Director Jennifer E. Cook sold 1,458 shares of Denali Therapeutics stock in a transaction that occurred on Thursday, June 6th. The stock was sold at an average price of $21.73, for a total transaction of $31,682.34. Following the sale, the director now owns 20,038 shares of the company's stock, valued at approximately $435,425.74. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Steve E. Krognes sold 30,000 shares of the company's stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $22.12, for a total value of $663,600.00. Following the completion of the transaction, the director now owns 34,404 shares of the company's stock, valued at $761,016.48. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 32,146 shares of company stock worth $710,274. Company insiders own 7.90% of the company's stock.

Institutional Trading of Denali Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of DNLI. Dana Investment Advisors Inc. grew its stake in Denali Therapeutics by 19.2% in the 2nd quarter. Dana Investment Advisors Inc. now owns 34,269 shares of the company's stock worth $796,000 after acquiring an additional 5,513 shares in the last quarter. Creative Planning increased its holdings in Denali Therapeutics by 8.7% during the 2nd quarter. Creative Planning now owns 43,033 shares of the company's stock worth $999,000 after purchasing an additional 3,458 shares during the period. Susquehanna Fundamental Investments LLC raised its position in Denali Therapeutics by 5.6% during the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 222,917 shares of the company's stock valued at $5,176,000 after purchasing an additional 11,900 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of Denali Therapeutics by 15.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 172,281 shares of the company's stock worth $4,000,000 after buying an additional 23,165 shares during the period. Finally, Millennium Management LLC grew its position in shares of 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 buying an additional 229,313 shares in the last quarter. 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.