Denali Therapeutics Inc. (NASDAQ:DNLI) Short Interest Up 5.1% in December

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

Insider Activity at Denali Therapeutics

In other Denali Therapeutics news, CEO Ryan J. Watts sold 29,266 shares of the company’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $20.22, for a total value of $591,758.52. Following the completion of the sale, the chief executive officer now owns 260,721 shares of the company’s stock, valued at approximately $5,271,778.62. This represents a 10.09 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Vicki L. Sato sold 1,020 shares of Denali Therapeutics stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $30.00, for a total transaction of $30,600.00. Following the transaction, the director now directly owns 111,056 shares in the company, valued at approximately $3,331,680. This represents a 0.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 64,518 shares of company stock worth $1,469,382. 7.90% of the stock is owned by insiders.

Hedge Funds Weigh In On Denali Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Victory Capital Management Inc. lifted its stake in shares of Denali Therapeutics by 163.7% during the 3rd quarter. Victory Capital Management Inc. now owns 39,900 shares of the company’s stock worth $1,162,000 after buying an additional 24,767 shares during the last quarter. FMR LLC lifted its position in Denali Therapeutics by 3,234.3% during the third quarter. FMR LLC now owns 7,831,378 shares of the company’s stock worth $228,128,000 after acquiring an additional 7,596,508 shares during the last quarter. Algert Global LLC boosted its holdings in shares of Denali Therapeutics by 82.4% during the third quarter. Algert Global LLC now owns 48,630 shares of the company’s stock worth $1,417,000 after acquiring an additional 21,975 shares during the period. Integral Health Asset Management LLC bought a new stake in shares of Denali Therapeutics during the second quarter worth approximately $7,546,000. Finally, Principal Financial Group Inc. increased its stake in shares of Denali Therapeutics by 13.8% during the third quarter. Principal Financial Group Inc. now owns 1,238,476 shares of the company’s stock worth $36,076,000 after purchasing an additional 149,939 shares during the period. 92.92% of the stock is owned by institutional investors.

Denali Therapeutics Price Performance

Shares of DNLI opened at $21.93 on Tuesday. The firm has a 50-day moving average of $22.94 and a 200-day moving average of $24.79. The company has a market cap of $3.16 billion, a PE ratio of -7.95 and a beta of 1.39. Denali Therapeutics has a one year low of $14.56 and a one year high of $33.33.

Denali Therapeutics (NASDAQ:DNLI) last announced its quarterly earnings results on Wednesday, November 6th. The company reported ($0.63) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.60) by ($0.03). During the same period in the previous year, the business earned ($0.72) earnings per share. Analysts expect that Denali Therapeutics will post -2.73 earnings per share for the current year.

Wall Street Analyst Weigh In

DNLI has been the topic of a number of research reports. JPMorgan Chase & Co. cut their price target on shares of Denali Therapeutics from $28.00 to $24.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 7th. Robert W. Baird initiated coverage on Denali Therapeutics in a report on Tuesday, January 7th. They set an “outperform” rating and a $31.00 target price for the company. Raymond James restated a “market perform” rating on shares of Denali Therapeutics in a report on Thursday, October 10th. Cantor Fitzgerald downgraded Denali Therapeutics from an “overweight” rating to a “neutral” rating in a report on Monday, October 7th. Finally, Baird R W upgraded Denali Therapeutics to a “strong-buy” rating in a research note on Tuesday, January 7th. Two research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Denali Therapeutics presently has an average rating of “Moderate Buy” and a consensus target price of $38.91.

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.