Denali Therapeutics (NASDAQ:DNLI) Sets New 52-Week High at $31.00

Denali Therapeutics Inc. (NASDAQ:DNLI - Get Free Report)'s stock price reached a new 52-week high on Tuesday . The stock traded as high as $31.00 and last traded at $31.00, with a volume of 87994 shares. The stock had previously closed at $30.33.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Bank of America lifted their price target on Denali Therapeutics from $25.00 to $29.00 and gave the stock a "buy" rating in a report on Wednesday, September 4th. Citigroup lifted their price target on Denali Therapeutics from $26.00 to $32.00 and gave the stock a "buy" rating in a report on Friday, August 2nd. JPMorgan Chase & Co. lifted their price target on Denali Therapeutics from $28.00 to $29.00 and gave the stock an "overweight" rating in a report on Wednesday, July 10th. Wedbush dropped their price target on Denali Therapeutics from $30.00 to $26.00 and set an "outperform" rating for the company in a report on Friday, August 2nd. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $35.00 price objective on shares of Denali Therapeutics in a report on Monday, September 9th. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, Denali Therapeutics has an average rating of "Moderate Buy" and an average price target of $38.33.

Denali Therapeutics Trading Up 1.2 %

The company has a 50 day moving average price of $24.25 and a 200-day moving average price of $21.28. The company has a market cap of $4.38 billion, a P/E ratio of -31.96 and a beta of 1.37.

Denali Therapeutics (NASDAQ:DNLI - Get Free Report) last issued its quarterly earnings results on Thursday, August 1st. The company reported ($0.59) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.68) by $0.09. The business had revenue of $1.00 million during the quarter, compared to the consensus estimate of $10.00 million. The company's revenue for the quarter was down 99.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.30 EPS. Equities analysts expect that Denali Therapeutics Inc. will post -2.54 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Steve E. Krognes sold 30,000 shares of the business's stock in a transaction on Monday, July 1st. The stock was sold at an average price of $22.12, for a total transaction of $663,600.00. Following the sale, the director now owns 34,404 shares in the company, valued at approximately $761,016.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 7.90% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Denali Therapeutics

A number of institutional investors have recently made changes to their positions in DNLI. Victory Capital Management Inc. grew its position in shares of Denali Therapeutics by 27.0% in the 4th quarter. Victory Capital Management Inc. now owns 15,348 shares of the company's stock valued at $329,000 after buying an additional 3,267 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Denali Therapeutics by 2.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,006,997 shares of the company's stock valued at $21,610,000 after buying an additional 25,938 shares during the last quarter. BNP Paribas Financial Markets grew its position in shares of Denali Therapeutics by 17.7% in the 4th quarter. BNP Paribas Financial Markets now owns 191,643 shares of the company's stock valued at $4,113,000 after buying an additional 28,817 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of Denali Therapeutics by 15.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,119,628 shares of the company's stock valued at $24,030,000 after buying an additional 146,394 shares during the last quarter. Finally, Principal Financial Group Inc. grew its position in shares of Denali Therapeutics by 57.9% in the 4th quarter. Principal Financial Group Inc. now owns 1,073,704 shares of the company's stock valued at $23,042,000 after buying an additional 393,626 shares during the last quarter. Institutional investors own 92.92% of the company's stock.

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.