Denali Therapeutics Inc. (NASDAQ:DNLI - Get Free Report)'s share price gapped down before the market opened on Tuesday after JPMorgan Chase & Co. lowered their price target on the stock from $28.00 to $24.00. The stock had previously closed at $19.82, but opened at $18.75. JPMorgan Chase & Co. currently has an overweight rating on the stock. Denali Therapeutics shares last traded at $20.91, with a volume of 193,497 shares traded.
Other analysts also recently issued reports about the company. William Blair began coverage on Denali Therapeutics in a research note on Friday. They issued an "outperform" rating on the stock. Stifel Nicolaus upgraded shares of Denali Therapeutics from a "hold" rating to a "buy" rating and set a $37.00 target price on the stock in a research report on Monday, December 16th. HC Wainwright cut their price target on shares of Denali Therapeutics from $90.00 to $87.00 and set a "buy" rating for the company in a report on Tuesday. Jefferies Financial Group raised their price objective on shares of Denali Therapeutics from $40.00 to $45.00 and gave the company a "buy" rating in a research note on Friday, November 1st. Finally, Raymond James restated a "market perform" rating on shares of Denali Therapeutics in a research report on Thursday, October 10th. Two research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $38.91.
Check Out Our Latest Analysis on Denali Therapeutics
Insider Buying and Selling
In other news, CEO Ryan J. Watts sold 40,000 shares of Denali Therapeutics stock in a transaction dated 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 transaction, the chief executive officer now directly owns 235,807 shares of the company's stock, valued at $6,529,495.83. The trade was a 14.50 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Vicki L. Sato sold 1,020 shares of the business's stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $30.00, for a total transaction of $30,600.00. Following the sale, the director now owns 111,056 shares of the company's stock, valued at approximately $3,331,680. This represents a 0.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 59,658 shares of company stock worth $1,667,943. 7.90% of the stock is owned by company insiders.
Hedge Funds Weigh In On Denali Therapeutics
Several hedge funds and other institutional investors have recently made changes to their positions in the business. CWM LLC raised its position in Denali Therapeutics by 43.6% in the third quarter. CWM LLC now owns 2,153 shares of the company's stock valued at $63,000 after purchasing an additional 654 shares during the period. Quest Partners LLC purchased a new stake in shares of Denali Therapeutics during the 3rd quarter valued at about $73,000. Assetmark Inc. lifted its position in Denali Therapeutics by 18.0% during the 3rd quarter. Assetmark Inc. now owns 3,808 shares of the company's stock worth $111,000 after acquiring an additional 580 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in Denali Therapeutics by 21.6% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,178 shares of the company's stock worth $152,000 after acquiring an additional 920 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in Denali Therapeutics in the 2nd quarter worth approximately $194,000. Institutional investors and hedge funds own 92.92% of the company's stock.
Denali Therapeutics Price Performance
The company has a market cap of $3.05 billion, a price-to-earnings ratio of -7.67 and a beta of 1.39. The company's 50-day simple moving average is $24.46 and its 200-day simple moving average is $24.89.
Denali Therapeutics (NASDAQ:DNLI - Get Free Report) last released its quarterly earnings results on Wednesday, November 6th. The company reported ($0.63) earnings per share for the quarter, missing analysts' consensus estimates of ($0.60) by ($0.03). During the same quarter last year, the business earned ($0.72) EPS. Equities analysts predict that Denali Therapeutics Inc. will post -2.71 EPS for the current fiscal year.
About Denali Therapeutics
(
Get Free Report)
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.
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