Denali Therapeutics (NASDAQ:DNLI) Issues Quarterly Earnings Results

Denali Therapeutics (NASDAQ:DNLI) issued its earnings results on Thursday. The company reported ($0.73) earnings per share for the quarter, topping the consensus estimate of ($0.75) by $0.02, FiscalAI reports. During the same period last year, the business earned ($0.67) earnings per share.

Denali Therapeutics Price Performance

Shares of DNLI traded down $0.79 during mid-day trading on Friday, hitting $20.63. The company’s stock had a trading volume of 382,656 shares, compared to its average volume of 1,683,755. The company has a debt-to-equity ratio of 0.01, a current ratio of 9.79 and a quick ratio of 9.79. The firm has a 50-day moving average price of $19.01 and a 200 day moving average price of $17.03. Denali Therapeutics has a fifty-two week low of $10.57 and a fifty-two week high of $23.77. The stock has a market capitalization of $3.03 billion, a price-to-earnings ratio of -7.10 and a beta of 1.02.

Wall Street Analyst Weigh In

Several research firms have recently commented on DNLI. BTIG Research restated a “buy” rating and set a $32.00 price target on shares of Denali Therapeutics in a research report on Friday, February 6th. Weiss Ratings reissued a “sell (d-)” rating on shares of Denali Therapeutics in a research note on Wednesday, January 21st. Stifel Nicolaus set a $37.00 target price on shares of Denali Therapeutics in a research report on Monday, November 17th. UBS Group started coverage on Denali Therapeutics in a report on Wednesday, January 7th. They set a “buy” rating on the stock. Finally, JPMorgan Chase & Co. boosted their price objective on Denali Therapeutics from $24.00 to $26.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 4th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $32.27.

Insider Buying and Selling

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

Institutional Investors Weigh In On Denali Therapeutics

Hedge funds have recently modified their holdings of the stock. T. Rowe Price Investment Management Inc. increased its stake in Denali Therapeutics by 28.7% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 7,254,132 shares of the company’s stock worth $119,766,000 after purchasing an additional 1,615,565 shares in the last quarter. Invesco Ltd. boosted its holdings in shares of Denali Therapeutics by 17.0% in the fourth quarter. Invesco Ltd. now owns 291,936 shares of the company’s stock worth $4,820,000 after buying an additional 42,469 shares during the period. Vestal Point Capital LP acquired a new position in shares of Denali Therapeutics in the fourth quarter worth about $7,677,000. Virtus Investment Advisers LLC increased its position in shares of Denali Therapeutics by 94.1% in the fourth quarter. Virtus Investment Advisers LLC now owns 14,795 shares of the company’s stock worth $244,000 after acquiring an additional 7,171 shares in the last quarter. Finally, Susquehanna Portfolio Strategies LLC acquired a new stake in shares of Denali Therapeutics during the fourth quarter valued at approximately $2,769,000. 92.92% of the stock is owned by hedge funds and other institutional investors.

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.