Denali Therapeutics (DNLI) Posts Earnings Results, Misses Estimates By $0.13 EPS

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Denali Therapeutics (NASDAQ:DNLI) posted its quarterly earnings results on Thursday. The company reported ($0.38) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.13), Fidelity Earnings reports. The firm had revenue of $1.20 million during the quarter, compared to analyst estimates of $3.00 million.

Shares of DNLI traded down $0.67 during midday trading on Friday, reaching $16.68. 207,840 shares of the stock were exchanged, 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 company has a market capitalization of $1.65 billion and a price-to-earnings ratio of -2.83.

In related news, insider Carole Ho sold 17,500 shares of the company’s stock in a transaction on Monday, October 1st. The stock was sold at an average price of $21.72, for a total transaction of $380,100.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Ryan J. Watts sold 18,333 shares of the company’s stock in a transaction on Tuesday, September 4th. The stock was sold at an average price of $19.06, for a total value of $349,426.98. The disclosure for this sale can be found here. Insiders have sold a total of 54,167 shares of company stock worth $1,060,456 in the last three months. Corporate insiders own 21.30% of the company’s stock.

A hedge fund recently raised its stake in Denali Therapeutics stock. Bank of New York Mellon Corp increased its stake in shares of Denali Therapeutics Inc (NASDAQ:DNLI) by 17.0% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 61,196 shares of the company’s stock after purchasing 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 SEC filing. Institutional investors and hedge funds own 65.06% of the company’s stock.

Separately, Zacks Investment Research downgraded Denali Therapeutics from a “hold” rating to a “sell” rating in a research report on Tuesday, August 14th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the stock. Denali Therapeutics has an average rating of “Hold” and an average target price of $23.25.

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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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