Denali Therapeutics (NASDAQ:DNLI) Trading 3.1% Higher – Here’s What Happened

Denali Therapeutics Inc. (NASDAQ:DNLI)’s share price was up 3.1% during trading on Wednesday . The company traded as high as $21.83 and last traded at $21.83. Approximately 95,664 shares traded hands during trading, a decline of 90% from the average daily volume of 943,706 shares. The stock had previously closed at $21.18.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. JPMorgan Chase & Co. decreased their target price on Denali Therapeutics from $28.00 to $24.00 and set an “overweight” rating on the stock in a research report on Tuesday. Raymond James reiterated a “market perform” rating on shares of Denali Therapeutics in a research report on Thursday, October 10th. Cantor Fitzgerald downgraded shares of Denali Therapeutics from an “overweight” rating to a “neutral” rating in a research note on Monday, October 7th. HC Wainwright cut their price objective on shares of Denali Therapeutics from $90.00 to $87.00 and set a “buy” rating for the company in a report on Tuesday. Finally, William Blair began coverage on Denali Therapeutics in a report on Friday, January 3rd. They set an “outperform” rating on the stock. Two investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $38.91.

Denali Therapeutics Price Performance

The business has a fifty day moving average of $24.34 and a 200 day moving average of $24.88. The stock has a market capitalization of $3.10 billion, a price-to-earnings ratio of -7.80 and a beta of 1.39.

Denali Therapeutics (NASDAQ:DNLI) last announced its quarterly earnings results on Wednesday, November 6th. The company reported ($0.63) EPS for the quarter, missing the consensus estimate of ($0.60) by ($0.03). During the same quarter last year, the business earned ($0.72) earnings per share. On average, equities research analysts expect that Denali Therapeutics Inc. will post -2.71 EPS for the current year.

Insiders Place Their Bets

In other news, Director Vicki L. Sato sold 3,080 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $20.91, for a total value of $64,402.80. Following the transaction, the director now directly owns 107,976 shares in the company, valued at approximately $2,257,778.16. This represents a 2.77 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Ryan J. Watts sold 40,000 shares of Denali Therapeutics stock in a transaction that occurred on Friday, October 18th. The shares were sold at an average price of $27.69, for a total transaction of $1,107,600.00. Following the completion of the sale, the chief executive officer now owns 235,807 shares of the company’s stock, valued at $6,529,495.83. This trade represents a 14.50 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 59,658 shares of company stock valued at $1,667,943 over the last 90 days. 7.90% of the stock is owned by company insiders.

Hedge Funds Weigh In On Denali Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of DNLI. CWM LLC increased its stake in Denali Therapeutics by 43.6% during the 3rd quarter. CWM LLC now owns 2,153 shares of the company’s stock worth $63,000 after buying an additional 654 shares during the period. Quest Partners LLC purchased a new stake in shares of Denali Therapeutics during the third quarter worth $73,000. Assetmark Inc. raised its stake in shares of Denali Therapeutics by 18.0% in the third quarter. Assetmark Inc. now owns 3,808 shares of the company’s stock valued at $111,000 after acquiring an additional 580 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Denali Therapeutics by 21.6% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,178 shares of the company’s stock valued at $152,000 after purchasing an additional 920 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in Denali Therapeutics during the 2nd quarter worth $194,000. 92.92% of the stock is currently owned by hedge funds and other institutional investors.

About Denali Therapeutics

Denali Therapeutics Inc, a biopharmaceutical company, develops a portfolio of product candidates engineered to cross the blood-brain barrier for neurodegenerative diseases and lysosomal storage diseases in the United States. The company’s transport vehicle (TV)-enabled programs include DNL310 ETV, an IDS enzyme replacement therapy program for MPS II; TAK-594/DNL593 which is in Phase 1/II for frontotemporal dementia-granulin; DNL126 program for MPS IIIA; and DNL622 for MPS I, as well as other preclinical programs that target amyloid beta and HER2.