Denali Therapeutics (NASDAQ:DNLI) Hits New 52-Week High at $25.25

Denali Therapeutics Inc. (NASDAQ:DNLI - Get Free Report)'s share price hit a new 52-week high on Wednesday . The stock traded as high as $25.25 and last traded at $24.66, with a volume of 632530 shares trading hands. The stock had previously closed at $23.65.

Wall Street Analysts Forecast Growth

DNLI has been the topic of a number of research analyst reports. Wedbush lowered their target price on Denali Therapeutics from $30.00 to $26.00 and set an "outperform" rating on the stock in a report on Friday, August 2nd. HC Wainwright restated a "buy" rating and set a $90.00 target price on shares of Denali Therapeutics in a report on Thursday, August 15th. Citigroup upped their price target on Denali Therapeutics from $26.00 to $32.00 and gave the company a "buy" rating in a report on Friday, August 2nd. Stifel Nicolaus decreased their target price on Denali Therapeutics from $26.00 to $22.00 and set a "hold" rating on the stock in a report on Wednesday, May 8th. Finally, JPMorgan Chase & Co. upped their target price on Denali Therapeutics from $28.00 to $29.00 and gave the company an "overweight" rating in a report on Wednesday, July 10th. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $39.33.

Denali Therapeutics Stock Performance

The business's 50 day simple moving average is $22.55 and its 200-day simple moving average is $20.17. The company has a market cap of $3.57 billion, a price-to-earnings ratio of -26.04 and a beta of 1.40.

Denali Therapeutics (NASDAQ:DNLI - Get Free Report) last released its quarterly earnings data on Thursday, August 1st. The company reported ($0.59) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.68) by $0.09. The firm had revenue of $1.00 million for the quarter, compared to analyst estimates of $10.00 million. During the same period in the previous year, the business posted $1.30 EPS. Denali Therapeutics's revenue for the quarter was down 99.7% on a year-over-year basis. Research analysts expect that Denali Therapeutics Inc. will post -2.77 earnings per share for the current year.

Insider Buying and Selling at Denali Therapeutics

In other news, Director Steve E. Krognes sold 30,000 shares of the stock in a transaction on Monday, July 1st. The shares were sold at an average price of $22.12, for a total transaction of $663,600.00. Following the transaction, the director now owns 34,404 shares in the company, valued at approximately $761,016.48. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Denali Therapeutics news, Director Jennifer E. Cook sold 1,458 shares of the company's stock in a transaction that occurred on Thursday, June 6th. The stock was sold at an average price of $21.73, for a total transaction of $31,682.34. Following the completion of the sale, the director now owns 20,038 shares of the company's stock, valued at $435,425.74. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Steve E. Krognes sold 30,000 shares of the stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $22.12, for a total value of $663,600.00. Following the transaction, the director now owns 34,404 shares in the company, valued at approximately $761,016.48. The disclosure for this sale can be found here. Insiders sold 32,146 shares of company stock worth $710,274 over the last ninety days. 7.90% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. EP Wealth Advisors LLC bought a new position in Denali Therapeutics during the first quarter worth $831,000. Edmond DE Rothschild Holding S.A. raised its position in shares of Denali Therapeutics by 65.9% during the fourth quarter. Edmond DE Rothschild Holding S.A. now owns 165,680 shares of the company's stock valued at $3,555,000 after buying an additional 65,800 shares during the last quarter. Pathway Capital Management LP acquired a new position in shares of Denali Therapeutics during the fourth quarter valued at about $1,490,000. Edgestream Partners L.P. bought a new stake in shares of Denali Therapeutics in the first quarter valued at about $2,301,000. Finally, Susquehanna Fundamental Investments LLC acquired a new stake in Denali Therapeutics during the first quarter worth about $4,330,000. 92.92% of the stock is currently 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.