Denali Therapeutics (NASDAQ:DNLI) Stock Price Down 6.2% - What's Next?

Denali Therapeutics Inc. (NASDAQ:DNLI - Get Free Report) was down 6.2% during mid-day trading on Monday . The stock traded as low as $21.69 and last traded at $21.86. Approximately 325,649 shares changed hands during trading, a decline of 68% from the average daily volume of 1,002,596 shares. The stock had previously closed at $23.30.

Wall Street Analyst Weigh In

DNLI has been the subject of several research analyst reports. Baird R W upgraded shares of Denali Therapeutics to a "strong-buy" rating in a report on Tuesday, January 7th. JPMorgan Chase & Co. lowered their target price on Denali Therapeutics from $28.00 to $24.00 and set an "overweight" rating for the company in a research note on Tuesday, January 7th. HC Wainwright reduced their price target on Denali Therapeutics from $90.00 to $87.00 and set a "buy" rating on the stock in a research note on Tuesday, January 7th. Jefferies Financial Group increased their price objective on Denali Therapeutics from $40.00 to $45.00 and gave the stock a "buy" rating in a report on Friday, November 1st. Finally, William Blair restated an "outperform" rating on shares of Denali Therapeutics in a report on Wednesday, January 15th. Two analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $38.00.

Denali Therapeutics Price Performance

The company has a market cap of $3.20 billion, a P/E ratio of -8.06 and a beta of 1.43. The company's 50-day moving average is $22.25 and its two-hundred day moving average is $24.83.

Denali Therapeutics (NASDAQ:DNLI - Get Free Report) last posted its quarterly earnings results on Wednesday, November 6th. The company reported ($0.63) earnings per share 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. Equities research analysts anticipate that Denali Therapeutics Inc. will post -2.74 EPS for the current year.

Insider Buying and Selling

In other news, CEO Ryan J. Watts sold 29,266 shares of the firm's stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $20.22, for a total transaction of $591,758.52. Following the sale, the chief executive officer now owns 260,721 shares of the company's stock, valued at $5,271,778.62. This trade represents a 10.09 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Carole Ho sold 12,255 shares of the stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $20.22, for a total transaction of $247,796.10. Following the transaction, the insider now owns 178,580 shares in the company, valued at approximately $3,610,887.60. This trade represents a 6.42 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 47,940 shares of company stock worth $973,442. 7.90% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Denali Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the company. FMR LLC lifted its stake in shares of Denali Therapeutics by 3,234.3% in the 3rd quarter. FMR LLC now owns 7,831,378 shares of the company's stock worth $228,128,000 after purchasing an additional 7,596,508 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Denali Therapeutics by 63.2% during 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 buying an additional 1,451,770 shares during the last quarter. Wellington Management Group LLP raised its position in Denali Therapeutics by 9.2% in the third quarter. Wellington Management Group LLP now owns 10,727,450 shares of the company's stock worth $312,491,000 after acquiring an additional 903,683 shares during the period. Fisher Asset Management LLC boosted its stake in shares of Denali Therapeutics by 44.8% during the 4th quarter. Fisher Asset Management LLC now owns 792,499 shares of the company's stock worth $16,151,000 after acquiring an additional 245,168 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its stake in shares of Denali Therapeutics by 13.8% during 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 last quarter. 92.92% of the stock is currently 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.