Denali Therapeutics (NASDAQ:DNLI) Hits New 52-Week Low - Here's Why

Denali Therapeutics Inc. (NASDAQ:DNLI - Get Free Report) reached a new 52-week low on Tuesday . The stock traded as low as $13.30 and last traded at $13.60, with a volume of 3555583 shares changing hands. The stock had previously closed at $14.78.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on DNLI. B. Riley reissued a "buy" rating and set a $35.00 price target (down previously from $38.00) on shares of Denali Therapeutics in a research report on Wednesday, March 5th. Morgan Stanley started coverage on shares of Denali Therapeutics in a report on Friday, March 7th. They set an "overweight" rating and a $33.00 target price on the stock. Bank of America dropped their price target on shares of Denali Therapeutics from $30.00 to $28.00 and set a "buy" rating for the company in a research note on Monday, March 10th. Baird R W upgraded Denali Therapeutics to a "strong-buy" rating in a research note on Tuesday, January 7th. Finally, Oppenheimer lowered their target price on Denali Therapeutics from $50.00 to $42.00 and set an "outperform" rating for the company in a research note on Monday, March 3rd. Two investment 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. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $37.20.

Denali Therapeutics Trading Down 7.9 %

The stock has a market capitalization of $1.71 billion, a price-to-earnings ratio of -4.27 and a beta of 1.58. The company's 50 day moving average is $18.06 and its 200 day moving average is $22.66.

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

Insider Buying and Selling at Denali Therapeutics

In other Denali Therapeutics news, insider Carole Ho sold 12,255 shares of Denali Therapeutics stock in a transaction on Monday, January 6th. The shares were sold at an average price of $20.22, for a total value of $247,796.10. Following the transaction, the insider now directly owns 178,580 shares in the company, valued at approximately $3,610,887.60. The trade was a 6.42 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Steve E. Krognes sold 3,339 shares of the stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $20.81, for a total transaction of $69,484.59. Following the sale, the director now owns 25,757 shares of the company's stock, valued at $536,003.17. This trade represents a 11.48 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 44,860 shares of company stock worth $909,039. 7.90% of the stock is owned by insiders.

Institutional Trading of Denali Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in DNLI. KLP Kapitalforvaltning AS acquired a new position in shares of Denali Therapeutics in the fourth quarter valued at approximately $532,000. Proficio Capital Partners LLC acquired a new position in Denali Therapeutics in the 4th quarter valued at $514,000. JPMorgan Chase & Co. raised its position in Denali Therapeutics by 6.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 235,386 shares of the company's stock worth $6,857,000 after buying an additional 14,324 shares during the last quarter. Principal Financial Group Inc. lifted its stake in shares of Denali Therapeutics by 13.8% in the 3rd quarter. Principal Financial Group Inc. now owns 1,238,476 shares of the company's stock worth $36,076,000 after acquiring an additional 149,939 shares during the period. Finally, Barclays PLC boosted its holdings in shares of Denali Therapeutics by 101.4% in the third quarter. Barclays PLC now owns 255,883 shares of the company's stock valued at $7,454,000 after acquiring an additional 128,823 shares in the last quarter. 92.92% of the stock is owned by hedge funds and other institutional investors.

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.