Denali Therapeutics (NASDAQ:DNLI) Sets New 52-Week High at $25.90

Denali Therapeutics Inc. (NASDAQ:DNLI - Get Free Report) hit a new 52-week high on Tuesday . The company traded as high as $25.90 and last traded at $25.84, with a volume of 133078 shares trading hands. The stock had previously closed at $25.59.

Wall Street Analyst Weigh In

DNLI has been the topic of several research analyst reports. Wedbush cut their price objective 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 reissued a "buy" rating and set a $90.00 target price on shares of Denali Therapeutics in a research note on Wednesday, September 4th. JPMorgan Chase & Co. raised their price objective on shares of Denali Therapeutics from $28.00 to $29.00 and gave the company an "overweight" rating in a report on Wednesday, July 10th. Cantor Fitzgerald restated an "overweight" rating and set a $35.00 target price on shares of Denali Therapeutics in a research note on Monday. Finally, Bank of America upped their price objective on shares of Denali Therapeutics from $25.00 to $29.00 and gave the company a "buy" rating in a research note on Wednesday, September 4th. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $38.33.

Denali Therapeutics Price Performance

The company has a 50 day moving average price of $23.34 and a 200 day moving average price of $20.89. The firm has a market cap of $3.77 billion, a PE ratio of -27.44 and a beta of 1.37.

Denali Therapeutics (NASDAQ:DNLI - Get Free Report) last announced its quarterly earnings data on Thursday, August 1st. The company reported ($0.59) EPS for the quarter, topping analysts' consensus estimates of ($0.68) by $0.09. The firm had revenue of $1.00 million for the quarter, compared to analysts' expectations of $10.00 million. The firm's quarterly revenue was down 99.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.30 EPS. On average, equities analysts anticipate that Denali Therapeutics Inc. will post -2.54 earnings per share for the current fiscal year.

Insider Activity at Denali Therapeutics

In related news, Director Steve E. Krognes sold 30,000 shares of Denali Therapeutics stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $22.12, for a total value of $663,600.00. Following the sale, the director now directly owns 34,404 shares in the company, valued at $761,016.48. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 7.90% of the stock is owned by insiders.

Hedge Funds Weigh In On Denali Therapeutics

A number of large investors have recently made changes to their positions in the stock. Dana Investment Advisors Inc. grew its position in Denali Therapeutics by 19.2% during the second quarter. Dana Investment Advisors Inc. now owns 34,269 shares of the company's stock worth $796,000 after buying an additional 5,513 shares during the period. Creative Planning grew its holdings in shares of Denali Therapeutics by 8.7% in the 2nd quarter. Creative Planning now owns 43,033 shares of the company's stock worth $999,000 after acquiring an additional 3,458 shares during the period. Susquehanna Fundamental Investments LLC increased its stake in Denali Therapeutics by 5.6% in the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 222,917 shares of the company's stock valued at $5,176,000 after purchasing an additional 11,900 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in Denali Therapeutics by 15.5% during the second quarter. The Manufacturers Life Insurance Company now owns 172,281 shares of the company's stock worth $4,000,000 after purchasing an additional 23,165 shares during the last quarter. Finally, Millennium Management LLC raised its holdings in Denali Therapeutics by 58.7% during the second quarter. Millennium Management LLC now owns 619,929 shares of the company's stock worth $14,395,000 after purchasing an additional 229,313 shares during the last quarter. Hedge funds and other institutional investors own 92.92% of the company's stock.

About Denali Therapeutics

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.