Denali Therapeutics (NASDAQ:DNLI) Announces Quarterly Earnings Results

Key Points

• Denali Therapeutics reported a quarterly earnings per share (EPS) of ($0.72), exceeding the consensus estimate of ($0.74) by $0.02.
• CEO Ryan J. Watts sold 495,282 shares of Denali stock at an average price of $15.00, decreasing his ownership by 66.18%.
• Analysts maintain a generally positive outlook on the stock, with thirteen buy ratings and a consensus price target of $33.85.

Denali Therapeutics (NASDAQ:DNLI - Get Free Report) released its quarterly earnings data on Monday. The company reported ($0.72) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.74) by $0.02, Zacks reports. During the same period last year, the business earned ($0.59) EPS.

Denali Therapeutics Price Performance

DNLI traded down $0.05 during midday trading on Monday, reaching $13.91. 1,294,438 shares of the company were exchanged, compared to its average volume of 1,682,158. Denali Therapeutics has a one year low of $10.57 and a one year high of $33.33. The stock's 50-day simple moving average is $14.30 and its 200 day simple moving average is $15.50.

Insider Buying and Selling at Denali Therapeutics

In other news, CEO Ryan J. Watts sold 495,282 shares of Denali Therapeutics stock in a transaction dated Wednesday, July 9th. The stock was sold at an average price of $15.00, for a total transaction of $7,429,230.00. Following the transaction, the chief executive officer owned 253,071 shares in the company, valued at $3,796,065. The trade was a 66.18% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 12.50% of the stock is owned by company insiders.

Hedge Funds Weigh In On Denali Therapeutics

Several institutional investors have recently modified their holdings of DNLI. Empowered Funds LLC lifted its holdings in shares of Denali Therapeutics by 11.0% during the 1st quarter. Empowered Funds LLC now owns 20,639 shares of the company's stock valued at $281,000 after purchasing an additional 2,052 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Denali Therapeutics by 4.0% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 88,507 shares of the company's stock valued at $1,210,000 after acquiring an additional 3,432 shares in the last quarter. Woodline Partners LP lifted its stake in Denali Therapeutics by 13.5% in the 1st quarter. Woodline Partners LP now owns 113,517 shares of the company's stock valued at $1,543,000 after acquiring an additional 13,517 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its stake in Denali Therapeutics by 58.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,672,078 shares of the company's stock valued at $22,732,000 after acquiring an additional 614,555 shares in the last quarter. Institutional investors own 92.92% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on DNLI shares. Wedbush lowered their target price on Denali Therapeutics from $32.00 to $30.00 and set an "outperform" rating for the company in a research note on Wednesday, May 7th. TD Cowen upgraded Denali Therapeutics to a "strong-buy" rating in a research note on Monday, July 28th. Robert W. Baird lowered their target price on Denali Therapeutics from $30.00 to $29.00 and set an "outperform" rating for the company in a research note on Thursday, May 8th. HC Wainwright lowered their target price on Denali Therapeutics from $80.00 to $32.00 and set a "buy" rating for the company in a research note on Wednesday, May 7th. Finally, William Blair upgraded Denali Therapeutics to a "strong-buy" rating in a research note on Thursday, April 24th. One research analyst has rated the stock with a hold rating, thirteen have issued a buy rating and three have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Buy" and a consensus price target of $33.85.

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.

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