Denali Therapeutics Inc. (NASDAQ:DNLI) Short Interest Update

Denali Therapeutics Inc. (NASDAQ:DNLI) saw a significant decline in short interest in the month of June. As of June 15th, there was short interest totalling 8,860,000 shares, a decline of 5.0% from the May 31st total of 9,330,000 shares. Based on an average daily volume of 1,150,000 shares, the days-to-cover ratio is presently 7.7 days. Approximately 7.6% of the company’s shares are sold short.

Insider Buying and Selling at Denali Therapeutics

In other Denali Therapeutics news, Director Vicki L. Sato sold 1,666 shares of the business’s stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $18.29, for a total value of $30,471.14. Following the sale, the director now owns 118,043 shares of the company’s stock, valued at $2,159,006.47. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Denali Therapeutics news, Director Vicki L. Sato sold 1,666 shares of the business’s stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $18.29, for a total value of $30,471.14. Following the sale, the director now owns 118,043 shares of the company’s stock, valued at $2,159,006.47. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Jennifer E. Cook sold 1,458 shares of the business’s stock in a transaction that occurred on Thursday, June 6th. The shares were sold at an average price of $21.73, for a total value of $31,682.34. Following the completion of the sale, the director now directly owns 20,038 shares in the company, valued at approximately $435,425.74. The disclosure for this sale can be found here. 7.90% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in DNLI. Capital Research Global Investors raised its holdings in Denali Therapeutics by 107.9% during the first quarter. Capital Research Global Investors now owns 6,049,957 shares of the company’s stock worth $124,145,000 after purchasing an additional 3,140,429 shares in the last quarter. Norges Bank purchased a new position in Denali Therapeutics during the fourth quarter worth about $24,736,000. Baker BROS. Advisors LP raised its holdings in Denali Therapeutics by 43.1% during the first quarter. Baker BROS. Advisors LP now owns 3,731,695 shares of the company’s stock worth $76,574,000 after purchasing an additional 1,124,499 shares in the last quarter. Braidwell LP purchased a new position in Denali Therapeutics during the fourth quarter worth about $9,910,000. Finally, Principal Financial Group Inc. raised its holdings in Denali Therapeutics by 57.9% during the fourth quarter. Principal Financial Group Inc. now owns 1,073,704 shares of the company’s stock worth $23,042,000 after purchasing an additional 393,626 shares in the last quarter. 92.92% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently commented on DNLI. UBS Group lowered their target price on shares of Denali Therapeutics from $70.00 to $32.00 and set a “buy” rating for the company in a research note on Tuesday, April 9th. HC Wainwright reiterated a “buy” rating and set a $95.00 target price on shares of Denali Therapeutics in a research note on Wednesday, May 8th. Stifel Nicolaus lowered their target price on shares of Denali Therapeutics from $26.00 to $22.00 and set a “hold” rating for the company in a research note on Wednesday, May 8th. Finally, Wedbush decreased their price objective on shares of Denali Therapeutics from $31.00 to $30.00 and set an “outperform” rating for the company in a research note on Wednesday, May 8th. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Denali Therapeutics has a consensus rating of “Moderate Buy” and an average price target of $40.22.

Denali Therapeutics Trading Down 1.2 %

Shares of DNLI opened at $21.74 on Wednesday. Denali Therapeutics has a fifty-two week low of $14.56 and a fifty-two week high of $30.79. The firm has a 50-day simple moving average of $19.69 and a 200-day simple moving average of $19.27.

Denali Therapeutics (NASDAQ:DNLI) last announced its earnings results on Tuesday, May 7th. The company reported ($0.68) earnings per share for the quarter, topping the consensus estimate of ($0.69) by $0.01. During the same quarter last year, the company posted ($0.80) EPS. Equities research analysts predict that Denali Therapeutics will post -2.78 earnings per share for the current fiscal year.

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.