Denali Therapeutics (NASDAQ:DNLI) Sets New 52-Week Low Following Analyst Downgrade

Denali Therapeutics Inc. (NASDAQ:DNLI - Get Free Report)'s stock price hit a new 52-week low during trading on Tuesday after Oppenheimer lowered their price target on the stock from $50.00 to $42.00. Oppenheimer currently has an outperform rating on the stock. Denali Therapeutics traded as low as $14.01 and last traded at $14.61, with a volume of 376874 shares traded. The stock had previously closed at $15.20.

Other equities research analysts have also recently issued research reports about the company. Robert W. Baird initiated coverage on Denali Therapeutics in a research note on Tuesday, January 7th. They issued an "outperform" rating and a $31.00 target price on the stock. William Blair reissued an "outperform" rating on shares of Denali Therapeutics in a research report on Friday, February 28th. The Goldman Sachs Group decreased their target price on shares of Denali Therapeutics from $45.00 to $40.00 and set a "buy" rating for the company in a research report on Tuesday, January 28th. HC Wainwright lifted their price target on shares of Denali Therapeutics from $80.00 to $87.00 and gave the company a "buy" rating in a research note on Friday, February 28th. Finally, Baird R W upgraded shares of Denali Therapeutics to a "strong-buy" rating in a research note on Tuesday, January 7th. Two research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $37.27.

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Insiders Place Their Bets

In other Denali Therapeutics news, Director Vicki L. Sato sold 3,080 shares of the stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $20.91, for a total transaction of $64,402.80. Following the transaction, the director now owns 107,976 shares in the company, valued at $2,257,778.16. This trade represents a 2.77 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Ryan J. Watts sold 29,266 shares of the firm's stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $20.22, for a total transaction of $591,758.52. Following the transaction, the chief executive officer now directly owns 260,721 shares in the company, valued at approximately $5,271,778.62. This represents a 10.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 47,940 shares of company stock worth $973,442 over the last three months. Insiders own 7.90% of the company's stock.

Institutional Investors Weigh In On Denali Therapeutics

Institutional investors have recently made changes to their positions in the stock. Principal Financial Group Inc. raised its holdings in Denali Therapeutics by 13.8% in the 3rd quarter. Principal Financial Group Inc. now owns 1,238,476 shares of the company's stock valued at $36,076,000 after acquiring an additional 149,939 shares in the last quarter. AIA Group Ltd increased its position in shares of Denali Therapeutics by 7.9% in the third quarter. AIA Group Ltd now owns 74,815 shares of the company's stock worth $2,179,000 after purchasing an additional 5,471 shares during the period. Assetmark Inc. raised its stake in 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 purchasing an additional 580 shares in the last quarter. Victory Capital Management Inc. lifted its position in Denali Therapeutics by 163.7% during the third quarter. Victory Capital Management Inc. now owns 39,900 shares of the company's stock worth $1,162,000 after purchasing an additional 24,767 shares during the period. Finally, Thrivent Financial for Lutherans lifted its position in Denali Therapeutics by 6.4% during the third quarter. Thrivent Financial for Lutherans now owns 138,862 shares of the company's stock worth $4,045,000 after purchasing an additional 8,358 shares during the period. 92.92% of the stock is currently owned by institutional investors.

Denali Therapeutics Stock Up 2.6 %

The stock has a market capitalization of $2.40 billion, a price-to-earnings ratio of -6.05 and a beta of 1.43. The business's 50 day simple moving average is $20.80 and its 200-day simple moving average is $24.30.

Denali Therapeutics (NASDAQ:DNLI - Get Free Report) last posted its quarterly earnings results on Thursday, February 27th. The company reported ($0.67) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.75) by $0.08. On average, analysts expect that Denali Therapeutics Inc. will post -2.71 earnings per share for the current year.

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.