Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Denali Therapeutics Inc shares valued at $1,896,250 were sold by Krognes Steve E. on Apr 01 ’24. At $20.50 per share, Krognes Steve E. sold 92,500 shares. The insider’s holdings dropped to 47,341 shares worth approximately $0.87 million following the completion of this transaction.
Also, SATO VICKI L sold 1,666 shares, netting a total of over 33,487 in proceeds. Following the sale of shares at $20.10 each, the insider now holds 119,709 shares.
Before that, SATO VICKI L had sold 1,666 shares from its account. In a trade valued at $30,604, the Director traded Denali Therapeutics Inc shares for $18.37 each. Upon closing the transaction, the insider’s holdings decreased to 1,666 shares, worth approximately $2.24 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 -4.90%. Over the course of the year, Denali Therapeutics Inc shares have dropped approximately -14.17%. 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 $19.02, while a 200-day SMA reached $21.47. Nevertheless, trading volume fell to 1.25 million shares from 0.86 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 18.10, which, if violated, would cause prices to drop to 17.78. In the upper region, resistance lies at 18.69. The next price resistance is at 18.96. RSI (Relative Strength Index) is 41.63 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.77, which suggests the price will decrease in the coming days. Percent R is at 89.58%, indicating bearish 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 Mar 15, 2024 dropping by -2.44 million shares to 8.38 million. Data from Yahoo Finance shows that the short interest on Feb 15, 2024 was 10.82 million shares. A decline of -29.12% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 5.32 of the overall float, the days-to-cover ratio (short ratio) decline to 5.32.
