Denali Therapeutics (NASDAQ:DNLI) Releases Earnings Results

Denali Therapeutics (NASDAQ:DNLI) posted its quarterly earnings results on Thursday. The company reported ($0.73) EPS for the quarter, beating the consensus estimate of ($0.75) by $0.02, FiscalAI reports. During the same quarter in the previous year, the firm earned ($0.67) EPS.

Denali Therapeutics Stock Performance

Shares of Denali Therapeutics stock traded down $0.87 on Thursday, reaching $21.42. The stock had a trading volume of 1,654,924 shares, compared to its average volume of 1,629,733. The company has a debt-to-equity ratio of 0.01, a quick ratio of 9.79 and a current ratio of 9.79. The business’s 50-day moving average price is $19.01 and its two-hundred day moving average price is $17.03. The stock has a market cap of $3.14 billion, a P/E ratio of -7.36 and a beta of 1.02. Denali Therapeutics has a fifty-two week low of $10.57 and a fifty-two week high of $23.77.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on DNLI shares. Morgan Stanley reissued an “overweight” rating and set a $40.00 price objective on shares of Denali Therapeutics in a research report on Thursday, January 8th. BTIG Research reaffirmed a “buy” rating and set a $32.00 price target on shares of Denali Therapeutics in a research note on Friday, February 6th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Denali Therapeutics in a report on Wednesday, January 21st. UBS Group began coverage on Denali Therapeutics in a report on Wednesday, January 7th. They issued a “buy” rating on the stock. Finally, JPMorgan Chase & Co. raised their price objective on shares of Denali Therapeutics from $24.00 to $26.00 and gave the company an “overweight” rating in a research report on Tuesday, November 4th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $32.27.

Insider Buying and Selling at Denali Therapeutics

In related news, CEO Ryan J. Watts sold 35,198 shares of Denali Therapeutics stock in a transaction on Tuesday, January 6th. The shares were sold at an average price of $16.50, for a total value of $580,767.00. Following the transaction, the chief executive officer owned 296,833 shares in the company, valued at $4,897,744.50. This trade represents a 10.60% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Alexander O. Schuth sold 17,218 shares of the company’s stock in a transaction dated Tuesday, January 6th. The shares were sold at an average price of $16.50, for a total transaction of $284,097.00. Following the sale, the insider owned 282,828 shares of the company’s stock, valued at $4,666,662. This trade represents a 5.74% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 12.50% of the company’s stock.

Institutional Trading of Denali Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. CIBC Bancorp USA Inc. bought a new position in Denali Therapeutics during the third quarter valued at about $205,000. Russell Investments Group Ltd. lifted its position in shares of Denali Therapeutics by 439.4% in the 3rd quarter. Russell Investments Group Ltd. now owns 13,799 shares of the company’s stock worth $200,000 after acquiring an additional 11,241 shares during the period. Caxton Associates LLP acquired a new stake in shares of Denali Therapeutics during the 2nd quarter worth approximately $199,000. Tower Research Capital LLC TRC grew its holdings in shares of Denali Therapeutics by 325.6% during the 2nd quarter. Tower Research Capital LLC TRC now owns 13,669 shares of the company’s stock worth $191,000 after purchasing an additional 10,457 shares in the last quarter. Finally, E Fund Management Co. Ltd. increased its position in shares of Denali Therapeutics by 12.8% during the second quarter. E Fund Management Co. Ltd. now owns 13,612 shares of the company’s stock valued at $190,000 after purchasing an additional 1,543 shares during the period. Institutional investors and hedge funds own 92.92% of the company’s stock.

Denali Therapeutics Company Profile

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.