Carole Ho, the Chief Medical (TASE:PMCN) Officer of Denali Therapeutics Inc. (NASDAQ:DNLI), has recently sold shares of the company's common stock, according to a filing with the Securities and Exchange Commission. On January 6 and 7, Ho sold a total of 15,162 shares, generating $308,290. The sale prices ranged from $20.22 to $20.81 per share. The transaction comes as InvestingPro data shows Denali maintains a strong financial position with more cash than debt and a healthy current ratio of 9.98. According to analysts tracked by InvestingPro, the stock currently trades below its Fair Value, with a strong buy consensus rating.
The sales were executed to cover tax obligations related to the settlement of previously vested restricted stock units. Following these transactions, Ho holds 175,673 shares directly. Additionally, she has indirect ownership of shares through family trusts, including 183,219 shares held by the Rohatgi-Ho Family 2009 Revocable Trust and 25,000 shares by The Rohatgi-Ho Irrevocable GST Trust for her children's benefit. InvestingPro subscribers have access to 6 additional key insights about Denali's financial health and growth prospects.
In other recent news, Denali Therapeutics has experienced 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. Stifel analysts maintained a Buy rating on the company, highlighting the potential of DNL310 to be a leading treatment in its class. Similarly, Jefferies and BofA Securities maintained their Buy ratings on Denali, despite setbacks in certain clinical trials.
The company's Phase 2/3 HEALEY trial for ALS treatment DNL343 did not meet its primary endpoint, leading to various responses from analysts. H.C. Wainwright and BofA Securities reduced their price targets for Denali, while Baird initiated coverage with an Outperform rating. Despite these developments, analysts remain optimistic about Denali's prospects, particularly due to its Transport Vesicle platform and the promising prospects of Tividenofusp alfa.
Denali plans to submit a Biologics License Application for tividenofusp alfa early this year, seeking accelerated approval. The company also reported positive topline data for another orphan disease drug, DNL126 for Sanfilippo Syndrome. These recent developments provide a snapshot of the company's ongoing efforts and future plans.
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