Denali Therapeutics (NASDAQ:DNLI) Trading Up 3.1% - Here's What Happened

Shares of Denali Therapeutics Inc. (NASDAQ:DNLI - Get Free Report) rose 3.1% on Wednesday . The stock traded as high as $21.83 and last traded at $21.83. Approximately 95,664 shares traded hands during mid-day trading, a decline of 90% from the average daily volume of 943,706 shares. The stock had previously closed at $21.18.

Analysts Set New Price Targets

DNLI has been the subject of a number of analyst reports. Robert W. Baird assumed coverage on Denali Therapeutics in a research report on Tuesday. They set an "outperform" rating and a $31.00 price objective for the company. Jefferies Financial Group upped their price objective on Denali Therapeutics from $40.00 to $45.00 and gave the company a "buy" rating in a research report on Friday, November 1st. Stifel Nicolaus raised Denali Therapeutics from a "hold" rating to a "buy" rating and set a $37.00 price objective on the stock in a research note on Monday, December 16th. Cantor Fitzgerald downgraded Denali Therapeutics from an "overweight" rating to a "neutral" rating in a research report on Monday, October 7th. Finally, JPMorgan Chase & Co. dropped their price target on Denali Therapeutics from $28.00 to $24.00 and set an "overweight" rating for the company in a research note on Tuesday. Two equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Denali Therapeutics currently has a consensus rating of "Moderate Buy" and a consensus price target of $38.91.

Denali Therapeutics Trading Up 0.3 %

The company has a fifty day simple moving average of $24.34 and a two-hundred day simple moving average of $24.88. The company has a market cap of $3.06 billion, a PE ratio of -7.70 and a beta of 1.39.

Denali Therapeutics (NASDAQ:DNLI - Get Free Report) last announced its earnings results on Wednesday, November 6th. The company reported ($0.63) EPS for the quarter, missing analysts' consensus estimates of ($0.60) by ($0.03). During the same quarter last year, the firm earned ($0.72) EPS. On average, research analysts anticipate that Denali Therapeutics Inc. will post -2.71 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO Ryan J. Watts sold 40,000 shares of the business's stock in a transaction dated Friday, October 18th. The stock was sold at an average price of $27.69, for a total transaction of $1,107,600.00. Following the completion of the sale, the chief executive officer now owns 235,807 shares in the company, valued at approximately $6,529,495.83. The trade was a 14.50 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Vicki L. Sato sold 1,020 shares of the company's stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $30.00, for a total value of $30,600.00. Following the completion of the sale, the director now directly owns 111,056 shares of the company's stock, valued at $3,331,680. The trade was a 0.91 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 59,658 shares of company stock worth $1,667,943. 7.90% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of DNLI. FMR LLC boosted its position in Denali Therapeutics by 3,234.3% during the 3rd quarter. FMR LLC now owns 7,831,378 shares of the company's stock worth $228,128,000 after acquiring an additional 7,596,508 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Denali Therapeutics by 63.2% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,749,486 shares of the company's stock worth $109,223,000 after acquiring an additional 1,451,770 shares during the last quarter. Point72 Asset Management L.P. acquired a new position in shares of Denali Therapeutics during the second quarter worth approximately $24,454,000. Wellington Management Group LLP grew its position 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 purchasing an additional 903,683 shares during the last quarter. Finally, Integral Health Asset Management LLC bought a new position in Denali Therapeutics during the second quarter valued at about $7,546,000. 92.92% of the stock is owned by institutional investors and hedge funds.

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.