Ryan J. Watts Sells 40,000 Shares of Denali Therapeutics Inc. (NASDAQ:DNLI) Stock

Denali Therapeutics Inc. (NASDAQ:DNLI) CEO Ryan J. Watts sold 40,000 shares of the business’s stock in a transaction dated Friday, October 18th. The stock was sold at an average price of $27.69, for a total value of $1,107,600.00. Following the sale, the chief executive officer now directly owns 235,807 shares of the company’s stock, valued at $6,529,495.83. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link.

Denali Therapeutics Stock Performance

Shares of DNLI opened at $26.08 on Thursday. The stock has a 50 day simple moving average of $26.98 and a 200 day simple moving average of $22.71. Denali Therapeutics Inc. has a 52-week low of $14.56 and a 52-week high of $32.13. The firm has a market capitalization of $3.72 billion, a PE ratio of -27.17 and a beta of 1.38.

Denali Therapeutics (NASDAQ:DNLI) last released its quarterly earnings results on Thursday, August 1st. The company reported ($0.59) earnings per share for the quarter, beating the consensus estimate of ($0.68) by $0.09. The company had revenue of $1.00 million during the quarter, compared to analyst estimates of $10.00 million. During the same quarter last year, the company earned $1.30 EPS. The firm’s quarterly revenue was down 99.7% compared to the same quarter last year. Equities research analysts predict that Denali Therapeutics Inc. will post -2.54 EPS for the current fiscal year.

Hedge Funds Weigh In On Denali Therapeutics

A number of large investors have recently added to or reduced their stakes in the company. EP Wealth Advisors LLC acquired a new position in shares of Denali Therapeutics during the first quarter worth about $831,000. Edgestream Partners L.P. bought a new position in shares of Denali Therapeutics during the 1st quarter worth approximately $2,301,000. Susquehanna Fundamental Investments LLC bought a new position in shares of Denali Therapeutics during the 1st quarter worth approximately $4,330,000. Swiss National Bank raised its holdings in shares of Denali Therapeutics by 0.7% in the first quarter. Swiss National Bank now owns 218,200 shares of the company’s stock valued at $4,477,000 after purchasing an additional 1,500 shares during the last quarter. Finally, Bayesian Capital Management LP bought a new stake in shares of Denali Therapeutics in the first quarter worth $447,000. Institutional investors own 92.92% of the company’s stock.

Wall Street Analysts Forecast Growth

DNLI has been the subject of a number of recent research reports. JPMorgan Chase & Co. dropped their price target on shares of Denali Therapeutics from $29.00 to $28.00 and set an “overweight” rating for the company in a research note on Friday, October 11th. Cantor Fitzgerald downgraded Denali Therapeutics from an “overweight” rating to a “neutral” rating in a research note on Monday, October 7th. Raymond James restated a “market perform” rating on shares of Denali Therapeutics in a research report on Thursday, October 10th. Wedbush dropped their price objective on Denali Therapeutics from $30.00 to $26.00 and set an “outperform” rating for the company in a report on Friday, August 2nd. Finally, Citigroup raised their target price on Denali Therapeutics from $26.00 to $32.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $38.22.

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.