The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Denali Therapeutics Inc shares valued at $33,487 were sold by SATO VICKI L on Mar 15 ’24. At $20.10 per share, SATO VICKI L sold 1,666 shares. The insider’s holdings dropped to 119,709 shares worth approximately $2.49 million following the completion of this transaction.
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Also, SATO VICKI L sold 1,666 shares, netting a total of over 30,604 in proceeds. Following the sale of shares at $18.37 each, the insider now holds 121,375 shares.
Before that, Schuth Alexander O. had sold 20,128 shares from its account. In a trade valued at $355,460, the COFO and Secretary traded Denali Therapeutics Inc shares for $17.66 each. Upon closing the transaction, the insider’s holdings decreased to 20,128 shares, worth approximately $3.89 million.
As published in their initiating research note from Citigroup on December 13, 2023, Denali Therapeutics Inc [DNLI] has been a Buy and the price target has been revised to $32. Earlier on September 06, 2023, B. Riley Securities initiated its rating. Their recommendation was “a Buy” for DNLI stock.
Analyzing DNLI Stock Performance
During the last five days, there has been a drop of approximately -2.44%. Over the course of the year, Denali Therapeutics Inc shares have dropped approximately -3.22%. Shares of the company reached a 52-week high of $23.52 on 02/27/24 and a 52-week low of $15.49 on 02/05/24. A 50-day SMA is recorded $18.60, while a 200-day SMA reached $22.00. Nevertheless, trading volume fell to 0.8 million shares from 0.93 million shares the previous day.
Support And Resistance Levels for Denali Therapeutics Inc (DNLI)
According to the 24-hour chart, there is a support level at 20.11, which, if violated, would cause prices to drop to 19.44. In the upper region, resistance lies at 21.18. The next price resistance is at 21.58. RSI (Relative Strength Index) is 55.24 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.34, which suggests the price will decrease in the coming days. Percent R is at 41.83%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
Is Denali Therapeutics Inc subject to short interest?
Stocks of Denali Therapeutics Inc saw a sharp steep in short interest on Feb 29, 2024 dropping by -0.97 million shares to 8.87 million. Data from Yahoo Finance shows that the short interest on Jan 31, 2024 was 9.84 million shares. A decline of -10.94% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 6.04 of the overall float, the days-to-cover ratio (short ratio) decline to 6.04.
