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

Denali Therapeutics Inc. (NASDAQ:DNLI) was the target of a large increase in short interest in January. As of January 15th, there was short interest totalling 7,840,000 shares, an increase of 5.1% from the December 31st total of 7,460,000 shares. Based on an average daily volume of 868,500 shares, the short-interest ratio is presently 9.0 days. Approximately 6.3% of the company’s stock are sold short.

Wall Street Analyst Weigh In

Several research analysts have issued reports on DNLI shares. The Goldman Sachs Group dropped their target price on Denali Therapeutics from $45.00 to $40.00 and set a “buy” rating on the stock in a research report on Tuesday, January 28th. Stifel Nicolaus raised shares of Denali Therapeutics from a “hold” rating to a “buy” rating and set a $37.00 price objective on the stock in a report on Monday, December 16th. Robert W. Baird initiated coverage on shares of Denali Therapeutics in a report on Tuesday, January 7th. They set an “outperform” rating and a $31.00 target price for the company. William Blair reiterated an “outperform” rating on shares of Denali Therapeutics in a research report on Wednesday, January 15th. Finally, HC Wainwright cut their price objective on shares of 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 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 stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $38.00.

Insiders Place Their Bets

In other news, CEO Ryan J. Watts sold 29,266 shares of the stock in a transaction on Monday, January 6th. The stock was sold at an average price of $20.22, for a total transaction of $591,758.52. Following the transaction, the chief executive officer now directly owns 260,721 shares of the company’s stock, valued at $5,271,778.62. This represents a 10.09 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Steve E. Krognes sold 3,339 shares of the firm’s stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $20.81, for a total value of $69,484.59. Following the completion of the transaction, the director now owns 25,757 shares in the company, valued at approximately $536,003.17. This trade represents a 11.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 64,518 shares of company stock valued at $1,469,382. Corporate insiders own 7.90% of the company’s stock.

Institutional Investors Weigh In On Denali Therapeutics

Institutional investors have recently added to or reduced their stakes in the stock. Sei Investments Co. boosted its position in shares of Denali Therapeutics by 87.8% during the second quarter. Sei Investments Co. now owns 22,670 shares of the company’s stock worth $526,000 after acquiring an additional 10,598 shares during the last quarter. Millennium Management LLC boosted its holdings in shares of Denali Therapeutics by 58.7% during the 2nd quarter. Millennium Management LLC now owns 619,929 shares of the company’s stock valued at $14,395,000 after purchasing an additional 229,313 shares during the last quarter. The Manufacturers Life Insurance Company grew its position in shares of Denali Therapeutics by 15.5% during the second quarter. The Manufacturers Life Insurance Company now owns 172,281 shares of the company’s stock valued at $4,000,000 after purchasing an additional 23,165 shares in the last quarter. Creative Planning increased its holdings in shares of Denali Therapeutics by 8.7% in the second quarter. Creative Planning now owns 43,033 shares of the company’s stock worth $999,000 after purchasing an additional 3,458 shares during the last quarter. Finally, CWM LLC lifted its position in shares of Denali Therapeutics by 43.6% in the third quarter. CWM LLC now owns 2,153 shares of the company’s stock worth $63,000 after buying an additional 654 shares in the last quarter. 92.92% of the stock is owned by hedge funds and other institutional investors.

Denali Therapeutics Stock Performance

Shares of DNLI stock opened at $22.99 on Wednesday. The stock has a fifty day simple moving average of $22.33 and a two-hundred day simple moving average of $24.86. The firm has a market capitalization of $3.31 billion, a PE ratio of -8.33 and a beta of 1.43. Denali Therapeutics has a 52-week low of $14.56 and a 52-week high of $33.33.

Denali Therapeutics (NASDAQ:DNLI) last issued its earnings results 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 quarter in the prior year, the company earned ($0.72) earnings per share. On average, sell-side analysts forecast that Denali Therapeutics will post -2.74 EPS 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.