Denali Therapeutics (NASDAQ:DNLI) Stock Price Down 6.2% – Should You Sell?

Denali Therapeutics Inc. (NASDAQ:DNLI)’s share price was down 6.2% during mid-day trading on Monday . The company traded as low as $21.69 and last traded at $21.86. Approximately 325,649 shares changed hands during trading, a decline of 68% from the average daily volume of 1,002,596 shares. The stock had previously closed at $23.30.

Wall Street Analysts Forecast Growth

DNLI has been the topic of several recent research reports. Jefferies Financial Group increased their price objective on shares of Denali Therapeutics from $40.00 to $45.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Raymond James reiterated a “market perform” rating on shares of Denali Therapeutics in a research note on Thursday, October 10th. Baird R W raised shares of Denali Therapeutics to a “strong-buy” rating in a research report on Tuesday, January 7th. Stifel Nicolaus raised Denali Therapeutics from a “hold” rating to a “buy” rating and set a $37.00 target price on the stock in a report on Monday, December 16th. Finally, HC Wainwright reduced their price target on Denali Therapeutics from $90.00 to $87.00 and set a “buy” rating for the company in a research report on Tuesday, January 7th. Two equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $38.00.

Denali Therapeutics Stock Down 6.3 %

The firm’s fifty day moving average price is $22.42 and its 200 day moving average price is $24.85. The stock has a market cap of $3.14 billion, a PE ratio of -7.91 and a beta of 1.43.

Denali Therapeutics (NASDAQ:DNLI) last announced its quarterly 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 prior year, the company posted ($0.72) EPS. As a group, analysts anticipate that Denali Therapeutics Inc. will post -2.74 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Denali Therapeutics news, Director Steve E. Krognes sold 3,339 shares of the stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $20.81, for a total transaction of $69,484.59. Following the completion of the transaction, the director now owns 25,757 shares in the company, valued at $536,003.17. This trade represents a 11.48 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Ryan J. Watts sold 29,266 shares of the business’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 sale, the chief executive officer now owns 260,721 shares in the company, valued at approximately $5,271,778.62. This trade represents a 10.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 64,518 shares of company stock worth $1,469,382. Corporate insiders own 7.90% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. FMR LLC boosted its stake in shares of Denali Therapeutics by 3,234.3% during the 3rd quarter. FMR LLC now owns 7,831,378 shares of the company’s stock worth $228,128,000 after purchasing an additional 7,596,508 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Denali Therapeutics by 63.2% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,749,486 shares of the company’s stock valued at $109,223,000 after buying an additional 1,451,770 shares during the period. Wellington Management Group LLP boosted its position in shares of Denali Therapeutics by 9.2% during the third quarter. Wellington Management Group LLP now owns 10,727,450 shares of the company’s stock valued at $312,491,000 after buying an additional 903,683 shares during the period. Millennium Management LLC raised its holdings in shares of Denali Therapeutics by 58.7% in the second 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 during the period. Finally, Principal Financial Group Inc. lifted its stake in shares of Denali Therapeutics by 13.8% during the 3rd 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 during the last quarter. 92.92% of the stock is owned by hedge funds and other institutional investors.

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.