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 company’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $22.12, for a total value of $663,600.00. Following the completion of the transaction, the director now directly owns 34,404 shares in the company, valued at $761,016.48. The sale was disclosed in a filing with the SEC, which is available through this link.

Denali Therapeutics Price Performance

Shares of DNLI stock traded down $0.44 during trading hours on Wednesday, reaching $21.30. The company had a trading volume of 491,640 shares, compared to its average volume of 1,199,496. Denali Therapeutics Inc. has a 12 month low of $14.56 and a 12 month high of $30.79. The business has a fifty day simple moving average of $19.80 and a 200-day simple moving average of $19.28. The company has a market cap of $3.04 billion, a price-to-earnings ratio of -22.19 and a beta of 1.39.

Denali Therapeutics (NASDAQ:DNLI) last issued its quarterly earnings results on Tuesday, May 7th. The company reported ($0.68) EPS for the quarter, topping analysts’ consensus estimates of ($0.69) by $0.01. During the same period in the prior year, the business earned ($0.80) EPS. On average, equities research analysts expect that Denali Therapeutics Inc. will post -2.78 earnings per share for the current year.

Hedge Funds Weigh In On Denali Therapeutics

Several hedge funds have recently made changes to their positions in DNLI. Capital Research Global Investors grew its position in shares of Denali Therapeutics by 107.9% in the first quarter. Capital Research Global Investors now owns 6,049,957 shares of the company’s stock valued at $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 grew its position 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 buying 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. grew its position 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 buying an additional 393,626 shares in the last quarter. 92.92% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

About Denali Therapeutics

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.