Denali Therapeutics (NASDAQ:DNLI) Stock Price Down 5.9% After Insider Selling

Posted by Defense World Staff on Jul 21st, 2023

Denali Therapeutics Inc. (NASDAQ:DNLI – Get Free Report)’s stock price traded down 5.9% on Thursday after an insider sold shares in the company. The stock traded as low as $28.01 and last traded at $28.38. 93,514 shares changed hands during mid-day trading, a decline of 87% from the average session volume of 708,219 shares. The stock had previously closed at $30.17.

Specifically, insider Alexander O. Schuth sold 10,000 shares of Denali Therapeutics stock in a transaction dated Monday, May 15th. The stock was sold at an average price of $28.60, for a total value of $286,000.00. Following the completion of the sale, the insider now owns 528,691 shares of the company’s stock, valued at approximately $15,120,562.60. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, insider Alexander O. Schuth sold 10,000 shares of Denali Therapeutics stock in a transaction dated Monday, May 15th. The stock was sold at an average price of $28.60, for a total transaction of $286,000.00. Following the completion of the sale, the insider now owns 528,691 shares in the company, valued at approximately $15,120,562.60. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Vicki L. Sato sold 1,666 shares of the business’s stock in a transaction that occurred on Monday, July 17th. The stock was sold at an average price of $29.60, for a total value of $49,313.60. Following the completion of the sale, the director now owns 133,037 shares of the company’s stock, valued at approximately $3,937,895.20. The disclosure for this sale can be found here. Insiders sold a total of 23,332 shares of company stock valued at $681,027 in the last ninety days. 7.90% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on DNLI. Stifel Nicolaus dropped their price target on Denali Therapeutics to $30.00 in a research report on Tuesday, May 9th. Morgan Stanley boosted their target price on Denali Therapeutics from $61.00 to $63.00 and gave the stock an “overweight” rating in a report on Wednesday, April 12th. Eleven analysts have rated the stock with a buy rating, According to data from MarketBeat, Denali Therapeutics has an average rating of “Buy” and a consensus target price of $53.40.

Denali Therapeutics Trading Down 4.5 %

The company has a fifty day moving average price of $30.25 and a 200-day moving average price of $28.02. The firm has a market cap of $3.94 billion, a price-to-earnings ratio of -10.03 and a beta of 1.28.

Denali Therapeutics (NASDAQ:DNLI – Get Free Report) last issued its earnings results on Monday, May 8th. The company reported ($0.80) earnings per share for the quarter, missing the consensus estimate of ($0.70) by ($0.10). Denali Therapeutics had a negative return on equity of 40.01% and a negative net margin of 365.21%. The company had revenue of $35.14 million for the quarter, compared to analyst estimates of $29.88 million. During the same quarter in the prior year, the firm earned ($0.53) earnings per share. The company’s revenue for the quarter was down 16.6% on a year-over-year basis. As a group, research analysts forecast that Denali Therapeutics Inc. will post -3.53 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in DNLI. Creative Planning boosted its stake in shares of Denali Therapeutics by 4.4% during the second quarter. Creative Planning now owns 7,075 shares of the company’s stock worth $208,000 after buying an additional 295 shares during the period. Teacher Retirement System of Texas increased its holdings in shares of Denali Therapeutics by 1.3% during the 2nd quarter. Teacher Retirement System of Texas now owns 29,665 shares of the company’s stock worth $875,000 after buying an additional 378 shares during the last quarter. Exchange Traded Concepts LLC boosted its position in Denali Therapeutics by 18.8% during the 4th quarter. Exchange Traded Concepts LLC now owns 2,584 shares of the company’s stock worth $72,000 after purchasing an additional 408 shares during the period. China Universal Asset Management Co. Ltd. boosted its position in Denali Therapeutics by 34.1% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 1,851 shares of the company’s stock valued at $43,000 after buying an additional 471 shares during the last quarter. Finally, Rhumbline Advisers lifted its position in shares of Denali Therapeutics by 0.5% during the first quarter. Rhumbline Advisers now owns 97,145 shares of the company’s stock worth $3,125,000 after purchasing an additional 496 shares during the last quarter. 78.09% of the stock is currently owned by institutional investors and hedge funds.

About Denali Therapeutics

(Get Free Report)

Denali Therapeutics Inc, a biopharmaceutical company, discovers and develops therapeutic candidates for neurodegenerative and lysosomal diseases in the United States and internationally. It offers leucine-rich repeat kinase 2 (LRRK2) inhibitor product candidate, including BIIB122/DNL151, a small molecule inhibitor, which is in phase I and phase Ib clinical trials for the treatment of Parkinson's disease; TAK-594/DNL593, which is in Phase I/II clinical trials for the treatment of frontotemporal dementia-granulin; TAK-920/DNL919, which is in Phase I clinical trials for the treatment of Alzheimer's disease.