Denali Therapeutics Inc (DNLI) may enjoy gains as insiders got busy in the recent days

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In a filing, Denali Therapeutics Inc revealed its Director SATO VICKI L unloaded Company’s shares for reported $30604.0 on Feb 15 ’24. In the deal valued at $18.37 per share,1,666 shares were sold. As a result of this transaction, SATO VICKI L now holds 121,375 shares worth roughly $2.52 million.

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Then, Schuth Alexander O. sold 20,128 shares, generating $355,460 in total proceeds. Upon selling the shares at $17.66, the COFO and Secretary now owns 187,341 shares.

Before that, Ho Carole sold 1,405 shares. Denali Therapeutics Inc shares valued at $24,995 were divested by the Chief Medical Officer at a price of $17.79 per share. As a result of the transaction, Ho Carole now holds 143,605 shares, worth roughly $2.98 million.

Citigroup initiated its Denali Therapeutics Inc [DNLI] rating to a Buy in a research note published on December 13, 2023; the price target was $32. B. Riley Securities started covering the stock on September 06, 2023. It rated DNLI as “a Buy”.

Price Performance Review of DNLI

On Tuesday, Denali Therapeutics Inc [NASDAQ:DNLI] saw its stock fall -4.24% to $20.77. Over the last five days, the stock has gained 1.56%. Denali Therapeutics Inc shares have fallen nearly -3.22% since the year began. Nevertheless, the stocks have fallen -10.55% over the past one year. While a 52-week high of $33.31 was reached on 02/27/24, a 52-week low of $15.45 was recorded on 02/05/24. SMA at 50 days reached $18.47, while 200 days put it at $22.56. A total of 0.89 million shares were traded, compared to the trading of 1.04 million shares in the previous session.

Levels Of Support And Resistance For DNLI Stock

The 24-hour chart illustrates a support level at 20.34, which if violated will result in even more drops to 19.91. On the upside, there is a resistance level at 21.46. A further resistance level may holdings at 22.15. The Relative Strength Index (RSI) on the 14-day chart is 57.05, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 1.10, which suggests price will go up in the next trading period. Percent R suggests that price movement has been low at 38.25%. Stochastics %K at 67.37% indicates the stock is a holding.

How much short interest is there in Denali Therapeutics Inc?

A steep rise in short interest was recorded in Denali Therapeutics Inc stocks on Feb 29, 2024, dropping by -0.97 million shares to a total of 8.87 million shares. Yahoo Finance data shows the prior-month short interest on Jan 31, 2024 was 9.84 million shares. There was a decline of -10.94%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 7.55% of the overall stock float, the days-to-cover ratio (short ratio) fell to 6.04.

The most recent change occurred on January 30, 2023 when SVB Securities began covering the stock and recommended ‘”an Outperform”‘ rating along with a $50 price target.

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