Denali Therapeutics Inc. $DNLI Shares Sold by Crestline Management LP

Key Points

• Crestline Management LP reduced its stake in Denali Therapeutics by 3.5%, now holding about 4.16 million shares, representing 89.5% of its portfolio.
• CEO Ryan J. Watts sold nearly 495,282 shares at an average price of $15.00, significantly reducing his ownership by 66.18%.
• Denali Therapeutics has a current market cap of $2.24 billion and is rated as a "Buy" by most analysts, with a consensus target price of $33.62.

Crestline Management LP trimmed its position in shares of Denali Therapeutics Inc. (NASDAQ:DNLI - Free Report) by 3.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,160,732 shares of the company's stock after selling 150,000 shares during the period. Denali Therapeutics makes up 89.5% of Crestline Management LP's portfolio, making the stock its biggest position. Crestline Management LP owned 2.86% of Denali Therapeutics worth $56,565,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Graham Capital Management L.P. grew its stake in shares of Denali Therapeutics by 107.7% during the first quarter. Graham Capital Management L.P. now owns 43,005 shares of the company's stock valued at $585,000 after acquiring an additional 22,299 shares in the last quarter. DAFNA Capital Management LLC acquired a new stake in Denali Therapeutics during the 1st quarter valued at approximately $1,739,000. Tema Etfs LLC purchased a new stake in Denali Therapeutics during the 1st quarter worth approximately $206,000. Trexquant Investment LP increased its holdings in Denali Therapeutics by 86.7% during the 1st quarter. Trexquant Investment LP now owns 113,224 shares of the company's stock worth $1,539,000 after purchasing an additional 52,568 shares during the last quarter. Finally, Walleye Capital LLC raised its position in shares of Denali Therapeutics by 77.8% in the 1st quarter. Walleye Capital LLC now owns 44,138 shares of the company's stock valued at $600,000 after purchasing an additional 19,318 shares in the last quarter. Institutional investors and hedge funds own 92.92% of the company's stock.

Denali Therapeutics Stock Performance

Shares of NASDAQ DNLI traded up $0.07 during midday trading on Monday, hitting $15.50. The company's stock had a trading volume of 2,176,239 shares, compared to its average volume of 1,478,501. The company has a debt-to-equity ratio of 0.01, a quick ratio of 10.27 and a current ratio of 10.27. Denali Therapeutics Inc. has a 1-year low of $10.57 and a 1-year high of $33.33. The firm's fifty day moving average price is $14.55 and its 200-day moving average price is $14.55. The firm has a market cap of $2.27 billion, a P/E ratio of -5.54 and a beta of 1.23.

Denali Therapeutics (NASDAQ:DNLI - Get Free Report) last issued its earnings results on Monday, August 11th. The company reported ($0.72) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.74) by $0.02. During the same quarter in the prior year, the firm posted ($0.59) earnings per share. On average, sell-side analysts forecast that Denali Therapeutics Inc. will post -2.71 EPS for the current fiscal year.

Analyst Ratings Changes

DNLI has been the subject of a number of research analyst reports. TD Cowen upgraded shares of Denali Therapeutics to a "strong-buy" rating in a research note on Monday, July 28th. Bank of America dropped their target price on shares of Denali Therapeutics from $28.00 to $27.00 and set a "buy" rating for the company in a research report on Monday, May 19th. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Denali Therapeutics in a research report on Monday. Finally, Morgan Stanley decreased their price target on Denali Therapeutics from $33.00 to $30.00 and set an "overweight" rating for the company in a research note on Monday, August 18th. Three investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, Denali Therapeutics has a consensus rating of "Buy" and a consensus price target of $33.62.

Insider Activity at Denali Therapeutics

In other Denali Therapeutics news, insider Carole Ho sold 2,937 shares of the firm's stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $13.58, for a total value of $39,884.46. Following the sale, the insider directly owned 217,391 shares in the company, valued at approximately $2,952,169.78. This trade represents a 1.33% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Ryan J. Watts sold 495,282 shares of the company's 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 of the company's stock, valued at $3,796,065. This represents a 66.18% decrease in their position. The disclosure for this sale can be found here. Insiders sold 501,962 shares of company stock worth $7,520,799 in the last 90 days. 12.50% of the stock is currently owned by company insiders.

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.