Denali Therapeutics (NASDAQ:DNLI) Reaches New 52-Week High - What's Next?

Denali Therapeutics Inc. (NASDAQ:DNLI - Get Free Report) shares hit a new 52-week high during trading on Monday . The company traded as high as $32.37 and last traded at $32.37, with a volume of 978 shares changing hands. The stock had previously closed at $31.35.

Analysts Set New Price Targets

A number of brokerages recently commented on DNLI. Raymond James reiterated a "market perform" rating on shares of Denali Therapeutics in a report on Thursday, October 10th. Bank of America boosted their price target on shares of Denali Therapeutics from $25.00 to $29.00 and gave the stock a "buy" rating in a report on Wednesday, September 4th. Jefferies Financial Group raised their price objective on shares of Denali Therapeutics from $40.00 to $45.00 and gave the stock a "buy" rating in a report on Friday, November 1st. JPMorgan Chase & Co. lowered their price objective on shares of Denali Therapeutics from $29.00 to $28.00 and set an "overweight" rating on the stock in a research report on Friday, October 11th. Finally, HC Wainwright reissued a "buy" rating and set a $90.00 target price on shares of Denali Therapeutics in a research report on Thursday. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, Denali Therapeutics has an average rating of "Moderate Buy" and a consensus price target of $38.90.

Denali Therapeutics Stock Performance

The stock's 50 day moving average is $27.81 and its 200 day moving average is $23.62.

Denali Therapeutics (NASDAQ:DNLI - Get Free Report) last posted its earnings results on Wednesday, November 6th. The company reported ($0.63) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.60) by ($0.03). During the same period in the previous year, the firm posted ($0.72) earnings per share. As a group, research analysts predict that Denali Therapeutics Inc. will post -2.62 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Steve E. Krognes sold 30,000 shares of the company's stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $29.03, for a total transaction of $870,900.00. Following the sale, the director now directly owns 29,096 shares in the company, valued at $844,656.88. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. In related news, CEO Ryan J. Watts sold 40,000 shares of the stock in a transaction on Friday, October 18th. The stock was sold at an average price of $27.69, for a total value of $1,107,600.00. Following the sale, the chief executive officer now owns 235,807 shares in the company, valued at approximately $6,529,495.83. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Steve E. Krognes sold 30,000 shares of the business's stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $29.03, for a total value of $870,900.00. Following the transaction, the director now owns 29,096 shares of the company's stock, valued at approximately $844,656.88. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 7.90% of the stock is currently owned by insiders.

Institutional Trading of Denali Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of DNLI. Intech Investment Management LLC bought a new position in shares of Denali Therapeutics in the third quarter worth approximately $861,000. Quest Partners LLC bought a new position in shares of Denali Therapeutics in the 3rd quarter worth $73,000. Swiss National Bank raised its position in shares of Denali Therapeutics by 7.7% during the 3rd quarter. Swiss National Bank now owns 250,700 shares of the company's stock valued at $7,303,000 after buying an additional 17,900 shares in the last quarter. Thrivent Financial for Lutherans raised its position in shares of Denali Therapeutics by 6.4% during the 3rd quarter. Thrivent Financial for Lutherans now owns 138,862 shares of the company's stock valued at $4,045,000 after buying an additional 8,358 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its holdings in shares of Denali Therapeutics by 163.7% during the 3rd quarter. Victory Capital Management Inc. now owns 39,900 shares of the company's stock worth $1,162,000 after acquiring an additional 24,767 shares during the last quarter. Hedge funds and other institutional investors own 92.92% of the company's stock.

Denali Therapeutics Company Profile

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.