Denali Therapeutics Inc. (NASDAQ:DNLI) CEO Ryan J. Watts Sells 29,266 Shares of Stock

Denali Therapeutics Inc. (NASDAQ:DNLI) CEO Ryan J. Watts sold 29,266 shares of the business’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $20.22, for a total transaction of $591,758.52. Following the completion of the sale, the chief executive officer now directly owns 260,721 shares of the company’s stock, valued at approximately $5,271,778.62. This trade represents a 10.09 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Denali Therapeutics Price Performance

NASDAQ DNLI opened at $21.25 on Thursday. Denali Therapeutics Inc. has a 1-year low of $14.56 and a 1-year high of $33.33. The firm has a market capitalization of $3.06 billion, a P/E ratio of -7.70 and a beta of 1.39. The business’s 50-day simple moving average is $24.34 and its 200-day simple moving average is $24.88.

Denali Therapeutics (NASDAQ:DNLI) last released its quarterly earnings data on Wednesday, November 6th. The company reported ($0.63) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.60) by ($0.03). During the same period in the prior year, the firm posted ($0.72) EPS. On average, equities research analysts expect that Denali Therapeutics Inc. will post -2.71 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on DNLI. Stifel Nicolaus upgraded 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. Cantor Fitzgerald downgraded shares of Denali Therapeutics from an “overweight” rating to a “neutral” rating in a report on Monday, October 7th. HC Wainwright reduced their price target on shares of Denali Therapeutics from $90.00 to $87.00 and set a “buy” rating on the stock in a report on Tuesday. JPMorgan Chase & Co. cut their price objective on Denali Therapeutics from $28.00 to $24.00 and set an “overweight” rating for the company in a research report on Tuesday. Finally, William Blair began coverage on Denali Therapeutics in a report on Friday, January 3rd. They set an “outperform” rating on the stock. 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 company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $38.91.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. JPMorgan Chase & Co. grew its position in Denali Therapeutics by 6.5% in the third quarter. JPMorgan Chase & Co. now owns 235,386 shares of the company’s stock valued at $6,857,000 after acquiring an additional 14,324 shares in the last quarter. Principal Financial Group Inc. lifted its stake in shares of Denali Therapeutics by 13.8% in the third quarter. Principal Financial Group Inc. now owns 1,238,476 shares of the company’s stock worth $36,076,000 after acquiring an additional 149,939 shares in the last quarter. Franklin Resources Inc. grew its stake in Denali Therapeutics by 3.8% during the 3rd quarter. Franklin Resources Inc. now owns 80,041 shares of the company’s stock valued at $2,148,000 after purchasing an additional 2,901 shares in the last quarter. Barclays PLC raised its position in shares of Denali Therapeutics by 101.4% in the 3rd quarter. Barclays PLC now owns 255,883 shares of the company’s stock valued at $7,454,000 after purchasing an additional 128,823 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. acquired a new stake in shares of Denali Therapeutics during the third quarter worth approximately $1,894,000. Institutional investors and hedge funds 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.