Short Interest in Denali Therapeutics Inc. (NASDAQ:DNLI) Declines By 5.0%

Denali Therapeutics Inc. (NASDAQ:DNLI) was the recipient of a large drop in short interest during the month of June. As of June 15th, there was short interest totalling 8,860,000 shares, a drop of 5.0% from the May 31st total of 9,330,000 shares. Based on an average daily trading volume, of 1,150,000 shares, the days-to-cover ratio is currently 7.7 days. Currently, 7.6% of the shares of the company are sold short.

Denali Therapeutics Stock Down 1.2 %

Shares of Denali Therapeutics stock opened at $21.74 on Wednesday. The stock has a market capitalization of $3.10 billion, a P/E ratio of -22.65 and a beta of 1.39. Denali Therapeutics has a 12-month low of $14.56 and a 12-month high of $30.79. The company has a 50-day simple moving average of $19.69 and a 200 day simple moving average of $19.27.

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

Insider Buying and Selling at Denali Therapeutics

In other news, Director Jennifer E. Cook sold 1,458 shares of the company’s stock in a transaction that occurred on Thursday, June 6th. The stock was sold at an average price of $21.73, for a total transaction of $31,682.34. Following the completion of the transaction, the director now directly owns 20,038 shares in the company, valued at $435,425.74. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, Director Vicki L. Sato sold 1,666 shares of the business’s stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $18.29, for a total transaction of $30,471.14. Following the transaction, the director now owns 118,043 shares in the company, valued at approximately $2,159,006.47. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Jennifer E. Cook sold 1,458 shares of the company’s stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $21.73, for a total transaction of $31,682.34. Following the transaction, the director now directly owns 20,038 shares of the company’s stock, valued at approximately $435,425.74. The disclosure for this sale can be found here. Insiders own 7.90% of the company’s stock.

Hedge Funds Weigh In On Denali Therapeutics

Several institutional investors have recently bought and sold shares of DNLI. Wellington Management Group LLP raised its position in shares of Denali Therapeutics by 3.6% during the third quarter. Wellington Management Group LLP now owns 7,288,960 shares of the company’s stock worth $150,371,000 after acquiring an additional 250,784 shares during the last quarter. Edmond DE Rothschild Holding S.A. raised its holdings in Denali Therapeutics by 65.9% during the 4th quarter. Edmond DE Rothschild Holding S.A. now owns 165,680 shares of the company’s stock worth $3,555,000 after purchasing an additional 65,800 shares during the last quarter. Pathway Capital Management LP acquired a new position in Denali Therapeutics during the 4th quarter valued at about $1,490,000. Gotham Asset Management LLC bought a new position in shares of Denali Therapeutics in the 3rd quarter valued at about $400,000. Finally, Braidwell LP acquired a new stake in shares of Denali Therapeutics during the 4th quarter worth approximately $9,910,000. Institutional investors own 92.92% of the company’s stock.

Analysts Set New Price Targets

DNLI has been the subject of several recent research reports. HC Wainwright reaffirmed a “buy” rating and issued a $95.00 price target on shares of Denali Therapeutics 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 note on Tuesday, April 9th. Wedbush decreased their price target on shares of Denali Therapeutics from $31.00 to $30.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 8th. Finally, Stifel Nicolaus dropped their price objective on shares of Denali Therapeutics from $26.00 to $22.00 and set a “hold” rating for the company in a research note on Wednesday, May 8th. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, Denali Therapeutics has a consensus rating of “Moderate Buy” and an average price target of $40.22.

Denali Therapeutics Company Profile

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.