Denali Therapeutics (NASDAQ:DNLI) Shares Down 6.5% - What's Next?

Denali Therapeutics Inc. (NASDAQ:DNLI - Get Free Report) was down 6.5% on Friday . The stock traded as low as $17.51 and last traded at $17.39. Approximately 329,977 shares changed hands during trading, a decline of 64% from the average daily volume of 924,589 shares. The stock had previously closed at $18.60.

Analysts Set New Price Targets

DNLI has been the subject of a number of research analyst reports. Baird R W raised Denali Therapeutics to a "strong-buy" rating in a report on Tuesday, January 7th. Stifel Nicolaus upgraded shares of Denali Therapeutics from a "hold" rating to a "buy" rating and set a $37.00 target price for the company in a report on Monday, December 16th. Deutsche Bank Aktiengesellschaft started coverage on shares of Denali Therapeutics in a research note on Tuesday, February 11th. They set a "buy" rating and a $31.00 price target on the stock. Robert W. Baird started coverage on shares of Denali Therapeutics in a research note on Tuesday, January 7th. They issued an "outperform" rating and a $31.00 price objective for the company. Finally, JPMorgan Chase & Co. cut their target price on Denali Therapeutics from $28.00 to $24.00 and set an "overweight" rating on the stock in a research report on Tuesday, January 7th. Two analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Denali Therapeutics currently has an average rating of "Moderate Buy" and a consensus price target of $37.77.

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Denali Therapeutics Trading Up 7.0 %

The company has a market capitalization of $2.34 billion, a PE ratio of -5.87 and a beta of 1.43. The firm has a 50 day simple moving average of $21.17 and a two-hundred day simple moving average of $24.51.

Denali Therapeutics (NASDAQ:DNLI - Get Free Report) last posted its quarterly earnings data on Thursday, February 27th. The company reported ($0.67) earnings per share for the quarter, beating analysts' consensus estimates of ($0.75) by $0.08. Research analysts expect that Denali Therapeutics Inc. will post -2.71 earnings per share for the current fiscal year.

Insider Transactions at Denali Therapeutics

In other news, Director Steve E. Krognes sold 3,339 shares of the firm's stock in a transaction that occurred on 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 directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Vicki L. Sato sold 3,080 shares of the company's stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $20.91, for a total value of $64,402.80. Following the transaction, the director now directly owns 107,976 shares in the company, valued at $2,257,778.16. This represents a 2.77 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 47,940 shares of company stock worth $973,442 over the last ninety days. 7.90% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Denali Therapeutics

Several institutional investors have recently made changes to their positions in DNLI. Sterling Capital Management LLC lifted its stake in shares of Denali Therapeutics by 589.9% in the fourth quarter. Sterling Capital Management LLC now owns 1,773 shares of the company's stock valued at $36,000 after purchasing an additional 1,516 shares during the period. GF Fund Management CO. LTD. purchased a new position in Denali Therapeutics in the fourth quarter valued at about $62,000. Point72 Hong Kong Ltd acquired a new stake in shares of Denali Therapeutics during the 4th quarter valued at approximately $65,000. Quest Partners LLC purchased a new stake in shares of Denali Therapeutics during the 3rd quarter worth approximately $73,000. Finally, PNC Financial Services Group Inc. boosted its stake in shares of Denali Therapeutics by 30.5% during the 4th quarter. PNC Financial Services Group Inc. now owns 3,790 shares of the company's stock worth $77,000 after acquiring an additional 885 shares in 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.