Denali Therapeutics Inc (NASDAQ:DNLI) Major Shareholder Sells 122,077 Shares

Denali Therapeutics Inc (NASDAQ:DNLI) major shareholder Douglas K. Bratton sold 122,077 shares of Denali Therapeutics stock in a transaction that occurred on Friday, June 26th. The shares were sold at an average price of $23.94, for a total value of $2,922,523.38. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Major shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

NASDAQ:DNLI opened at $23.70 on Wednesday. The firm has a market capitalization of $2.50 billion, a PE ratio of -10.77 and a beta of 1.88. The stock’s fifty day moving average is $25.23 and its 200 day moving average is $21.76. Denali Therapeutics Inc has a fifty-two week low of $12.39 and a fifty-two week high of $30.41. The company has a debt-to-equity ratio of 0.12, a quick ratio of 12.70 and a current ratio of 12.70.

Denali Therapeutics (NASDAQ:DNLI) last released its earnings results on Thursday, May 7th. The company reported ($0.55) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.57) by $0.02. The firm had revenue of $3.60 million during the quarter, compared to analyst estimates of $5.93 million. Denali Therapeutics had a negative net margin of 825.96% and a negative return on equity of 46.48%. Equities analysts forecast that Denali Therapeutics Inc will post -2.44 EPS for the current year.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Meeder Asset Management Inc. purchased a new stake in shares of Denali Therapeutics during the first quarter valued at $26,000. NumerixS Investment Technologies Inc increased its stake in Denali Therapeutics by 260.6% in the 4th quarter. NumerixS Investment Technologies Inc now owns 3,606 shares of the company’s stock worth $63,000 after buying an additional 2,606 shares during the period. Quantbot Technologies LP purchased a new stake in Denali Therapeutics in the 4th quarter valued at about $77,000. Great West Life Assurance Co. Can purchased a new stake in Denali Therapeutics in the 4th quarter valued at about $104,000. Finally, Bank of Montreal Can grew its stake in Denali Therapeutics by 25.4% in the 4th quarter. Bank of Montreal Can now owns 6,023 shares of the company’s stock worth $105,000 after acquiring an additional 1,221 shares in the last quarter. 75.03% of the stock is owned by institutional investors and hedge funds.

Several equities research analysts have recently issued reports on the stock. Zacks Investment Research cut shares of Denali Therapeutics from a “buy” rating to a “hold” rating in a research report on Monday, June 22nd. Nomura Securities reiterated a “buy” rating and issued a $35.00 price target on shares of Denali Therapeutics in a report on Monday, March 9th. Evercore ISI raised shares of Denali Therapeutics from an “in-line” rating to an “outperform” rating and set a $20.00 price objective for the company in a report on Friday, March 13th. BidaskClub lowered Denali Therapeutics from a “buy” rating to a “hold” rating in a research report on Wednesday. Finally, Morgan Stanley decreased their target price on Denali Therapeutics from $30.00 to $28.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 15th. Four investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $29.91.

Denali Therapeutics Company Profile

Denali Therapeutics Inc, a biopharmaceutical company, discovers and develops therapeutic candidates for neurodegenerative diseases in the United States. The company offers leucine-rich repeat kinase 2 (LRRK2) inhibitor product candidates, including DNL201 and DNL151, which are in Phase 1 clinical trials for Parkinson's disease.

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