Denali Therapeutics (NASDAQ:DNLI) Shares Gap Up - What's Next?

Denali Therapeutics Inc. (NASDAQ:DNLI - Get Free Report) shares gapped up prior to trading on Tuesday . The stock had previously closed at $20.88, but opened at $21.48. Denali Therapeutics shares last traded at $21.30, with a volume of 61,176 shares changing hands.

Analyst Upgrades and Downgrades

A number of research firms have commented on DNLI. William Blair reaffirmed an "outperform" rating on shares of Denali Therapeutics in a research report on Wednesday, January 15th. JPMorgan Chase & Co. lowered their target price on shares of Denali Therapeutics from $28.00 to $24.00 and set an "overweight" rating for the company in a research note on Tuesday, January 7th. Baird R W raised shares of Denali Therapeutics to a "strong-buy" rating in a report on Tuesday, January 7th. Stifel Nicolaus upgraded Denali Therapeutics from a "hold" rating to a "buy" rating and set a $37.00 price objective for the company in a research note on Monday, December 16th. Finally, Jefferies Financial Group increased their target price on shares of Denali Therapeutics from $40.00 to $45.00 and gave the stock a "buy" rating in a research note on Friday, November 1st. Two equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $37.42.

Denali Therapeutics Price Performance

The stock has a 50-day simple moving average of $21.98 and a 200 day simple moving average of $24.76. The company has a market capitalization of $3.06 billion, a PE ratio of -7.76 and a beta of 1.43.

Insider Buying and Selling at Denali Therapeutics

In other Denali Therapeutics news, Director Steve E. Krognes sold 3,339 shares of Denali Therapeutics stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $20.81, for a total value of $69,484.59. Following the completion of the sale, the director now owns 25,757 shares in the company, valued at $536,003.17. The trade was a 11.48 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Vicki L. Sato sold 3,080 shares of the stock in a transaction dated 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 approximately $2,257,778.16. The trade was a 2.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 47,940 shares of company stock worth $973,442. 7.90% of the stock is owned by insiders.

Hedge Funds Weigh In On Denali Therapeutics

Large investors have recently bought and sold shares of the stock. Vanguard Group Inc. increased its position in Denali Therapeutics by 7.6% during the 4th quarter. Vanguard Group Inc. now owns 12,021,230 shares of the company's stock worth $244,993,000 after purchasing an additional 843,996 shares in the last quarter. Wellington Management Group LLP lifted its holdings in Denali Therapeutics by 9.2% in the 3rd quarter. Wellington Management Group LLP now owns 10,727,450 shares of the company's stock worth $312,491,000 after buying an additional 903,683 shares in the last quarter. FMR LLC increased its position in shares of Denali Therapeutics by 2.4% during the fourth quarter. FMR LLC now owns 8,019,746 shares of the company's stock worth $163,442,000 after acquiring an additional 188,368 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Denali Therapeutics by 63.2% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,749,486 shares of the company's stock valued at $109,223,000 after purchasing an additional 1,451,770 shares during the last quarter. Finally, Alliancebernstein L.P. increased its holdings in Denali Therapeutics by 8.8% during the 4th quarter. Alliancebernstein L.P. now owns 3,315,642 shares of the company's stock worth $67,573,000 after purchasing an additional 268,378 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.