Alexander Schuth, the Chief Financial Officer and Secretary of Denali Therapeutics Inc. (NASDAQ:DNLI), a $3.05 billion market cap biotech company, recently sold shares valued at $308,290, according to a Form 4 filing with the Securities and Exchange Commission. According to InvestingPro analysis, the company maintains strong liquidity with more cash than debt on its balance sheet. The transactions, which took place on January 6 and January 7, involved the sale of a total of 15,162 shares at prices ranging from $20.22 to $20.81 per share.
Following these transactions, Schuth retains direct ownership of 244,308 shares of Denali Therapeutics. Additionally, he holds 523,749 shares indirectly through The Schuth Family Trust, for which he serves as trustee. The sales were made to satisfy tax obligations related to the settlement of previously vested restricted stock units.
In other recent news, Denali Therapeutics has seen significant developments in its clinical trials and analyst ratings. The U.S. Food and Drug Administration (FDA) granted Breakthrough Therapy Designation to Denali’s DNL310 for the treatment of Hunter Syndrome, signaling a potential leap forward in treatment options. Stifel analysts maintained a Buy rating on the company’s stock, emphasizing the importance of this FDA decision and its implications for Denali’s other enzyme replacement therapy, DNL126, being developed for Sanfilippo Syndrome.
Concurrently, Denali’s Phase II/III HEALEY trial for ALS treatment DNL343 did not meet its primary endpoint, leading to varied responses from analysts. H.C. Wainwright and BofA Securities reduced their price targets for Denali, while maintaining a Buy rating. Baird initiated coverage on Denali with an Outperform rating and a target of $31.00.
Despite the mixed results, Jefferies maintained a Buy rating on Denali Therapeutics, highlighting potential Hunter Syndrome approval in 2025. The company’s financial position remains strong, with a current ratio of 9.98 and more cash than debt on its balance sheet. These are recent developments in the company’s trajectory.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.