Denali Therapeutics (NASDAQ:DNLI) issued its earnings results on Thursday. The company reported ($0.38) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.25) by ($0.13), Fidelity Earnings reports. The business had revenue of $1.20 million for the quarter, compared to analysts’ expectations of $3.00 million.
NASDAQ DNLI traded down $0.67 during trading hours on Friday, reaching $16.68. The company’s stock had a trading volume of 207,840 shares, compared to its average volume of 368,850. Denali Therapeutics has a 52 week low of $12.32 and a 52 week high of $25.79. The stock has a market capitalization of $1.65 billion and a P/E ratio of -2.83.
In other news, insider Ryan J. Watts sold 18,334 shares of Denali Therapeutics stock in a transaction that occurred on Wednesday, August 29th. The stock was sold at an average price of $18.05, for a total transaction of $330,928.70. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Carole Ho sold 17,500 shares of Denali Therapeutics stock in a transaction that occurred on Monday, October 1st. The shares were sold at an average price of $21.72, for a total value of $380,100.00. The disclosure for this sale can be found here. Insiders sold 54,167 shares of company stock worth $1,060,456 in the last three months. 21.30% of the stock is currently owned by corporate insiders.
A hedge fund recently raised its stake in Denali Therapeutics stock. Bank of New York Mellon Corp raised its holdings in Denali Therapeutics Inc (NASDAQ:DNLI) by 17.0% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 61,196 shares of the company’s stock after acquiring an additional 8,882 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.06% of Denali Therapeutics worth $933,000 as of its most recent filing with the Securities & Exchange Commission. Hedge funds and other institutional investors own 65.06% of the company’s stock.
Separately, Zacks Investment Research cut shares of Denali Therapeutics from a “hold” rating to a “sell” rating in a report on Tuesday, August 14th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $23.25.
About Denali Therapeutics
Denali Therapeutics Inc, a biopharmaceutical company, discovers and develops therapeutic candidates for neurodegenerative diseases in the United States. The company offers leucine-rich repeat kinase 2 (LRRK2) inhibitor product candidates, including DNL201 and DNL151, which are in Phase 1 clinical trials for Parkinson's disease.
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