Denali Therapeutics (NASDAQ:DNLI) Downgraded to Sell Rating by Wall Street Zen

Wall Street Zen lowered shares of Denali Therapeutics (NASDAQ:DNLI) from a hold rating to a sell rating in a research note published on Saturday morning,Wall Street Zen reports.

Several other brokerages have also commented on DNLI. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Denali Therapeutics from $31.00 to $35.00 and gave the company a “buy” rating in a research report on Thursday, July 16th. B. Riley Financial upped their price target on shares of Denali Therapeutics from $30.00 to $35.00 and gave the company a “buy” rating in a research note on Tuesday, August 25th. Robert W. Baird set a $34.00 price target on shares of Denali Therapeutics in a report on Friday, August 7th. JPMorgan Chase & Co. started coverage on shares of Denali Therapeutics in a research note on Monday, July 13th. They set an “overweight” rating and a $29.00 price objective for the company. Finally, Wedbush reiterated an “outperform” rating and set a $26.00 price objective on shares of Denali Therapeutics in a research note on Monday, July 13th. Fourteen analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Denali Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus price target of $35.85.

Denali Therapeutics Trading Down 2.3%

Shares of NASDAQ:DNLI opened at $22.28 on Friday. The business’s 50-day moving average is $24.44 and its 200 day moving average is $21.83. Denali Therapeutics has a 1 year low of $12.58 and a 1 year high of $27.30. The firm has a market capitalization of $3.56 billion, a P/E ratio of -7.85 and a beta of 1.01. The company has a debt-to-equity ratio of 0.01, a current ratio of 8.37 and a quick ratio of 8.32.

Denali Therapeutics (NASDAQ:DNLI) last released its quarterly earnings results on Thursday, August 6th. The company reported ($0.68) EPS for the quarter, missing analysts’ consensus estimates of ($0.51) by ($0.17). The business had revenue of $3.60 million during the quarter, compared to the consensus estimate of $2.15 million. During the same period in the previous year, the business posted ($0.72) EPS. On average, research analysts predict that Denali Therapeutics will post -2.67 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Alexander O. Schuth sold 2,768 shares of the company’s stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $23.44, for a total value of $64,881.92. Following the sale, the insider directly owned 278,995 shares of the company’s stock, valued at $6,539,642.80. This represents a 0.98% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 9.70% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in DNLI. Corient Private Wealth LP purchased a new stake in Denali Therapeutics in the second quarter valued at $301,000. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in shares of Denali Therapeutics during the 2nd quarter valued at about $368,000. California State Teachers Retirement System raised its stake in shares of Denali Therapeutics by 2,306.0% during the 2nd quarter. California State Teachers Retirement System now owns 3,911,652 shares of the company’s stock valued at $100,608,000 after buying an additional 3,749,076 shares during the last quarter. Nykredit A S acquired a new position in shares of Denali Therapeutics in the 2nd quarter valued at about $38,000. Finally, Empowered Funds LLC acquired a new position in shares of Denali Therapeutics in the 2nd quarter valued at about $371,000. Hedge funds and other institutional investors own 92.92% of the company’s stock.

About Denali Therapeutics

Denali Therapeutics is a clinical‐stage biopharmaceutical company focused on developing therapies for neurodegenerative diseases. The company’s research leverages a proprietary Blood–Brain Barrier Transport Vehicle (TV) platform designed to enable large molecules, including antibodies and enzymes, to penetrate the central nervous system. Denali’s approach includes small molecules, monoclonal antibodies and gene therapy candidates aimed at key drivers of disorders such as Alzheimer’s disease, Parkinson’s disease, amyotrophic lateral sclerosis (ALS) and frontotemporal dementia.

Among Denali’s lead programs is an orally delivered leucine‐rich repeat kinase 2 (LRRK2) inhibitor for Parkinson’s disease, and an anti‐TREM2 antibody designed to modulate microglial activity in Alzheimer’s patients.