Steve E. Krognes Sells 30,000 Shares of Denali Therapeutics Inc. (NASDAQ:DNLI) Stock

Denali Therapeutics Inc. (NASDAQ:DNLI) Director Steve E. Krognes sold 30,000 shares of the business’s stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $29.03, for a total value of $870,900.00. Following the completion of the sale, the director now owns 29,096 shares in the company, valued at $844,656.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Denali Therapeutics Trading Up 1.3 %

Shares of NASDAQ:DNLI traded up $0.36 on Wednesday, hitting $29.03. The company had a trading volume of 541,486 shares, compared to its average volume of 1,126,526. The stock has a 50 day moving average price of $25.65 and a 200 day moving average price of $21.93. The stock has a market cap of $4.14 billion, a price-to-earnings ratio of -30.04 and a beta of 1.37. Denali Therapeutics Inc. has a 1-year low of $14.56 and a 1-year high of $32.13.

Denali Therapeutics (NASDAQ:DNLI) last issued its quarterly earnings data on Thursday, August 1st. The company reported ($0.59) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.68) by $0.09. The company had revenue of $1.00 million for the quarter, compared to analyst estimates of $10.00 million. During the same quarter last year, the business earned $1.30 earnings per share. The company’s revenue was down 99.7% on a year-over-year basis. Sell-side analysts anticipate that Denali Therapeutics Inc. will post -2.54 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. JPMorgan Chase & Co. upped their price target on Denali Therapeutics from $28.00 to $29.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 10th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $35.00 price target on shares of Denali Therapeutics in a research note on Monday, September 9th. Citigroup increased their price objective on shares of Denali Therapeutics from $26.00 to $32.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. HC Wainwright reaffirmed a “buy” rating and issued a $90.00 target price on shares of Denali Therapeutics in a research report on Wednesday, September 4th. Finally, Bank of America increased their price target on Denali Therapeutics from $25.00 to $29.00 and gave the company a “buy” rating in a research report on Wednesday, September 4th. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $38.33.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. GAMMA Investing LLC increased its position in Denali Therapeutics by 879.5% during the second quarter. GAMMA Investing LLC now owns 2,057 shares of the company’s stock worth $48,000 after acquiring an additional 1,847 shares during the period. PNC Financial Services Group Inc. increased its holdings in shares of Denali Therapeutics by 48.1% during the fourth quarter. PNC Financial Services Group Inc. now owns 2,486 shares of the company’s stock worth $53,000 after purchasing an additional 807 shares during the period. Fisher Asset Management LLC bought a new stake in shares of Denali Therapeutics in the fourth quarter valued at approximately $59,000. Headlands Technologies LLC acquired a new stake in Denali Therapeutics during the first quarter worth approximately $88,000. Finally, SG Americas Securities LLC bought a new position in Denali Therapeutics during the 1st quarter worth $147,000. 92.92% of the stock is owned by institutional investors and hedge funds.

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.