Denali Therapeutics (NASDAQ:DNLI) Trading 3.1% Higher

Denali Therapeutics Inc. (NASDAQ:DNLI - Get Free Report)'s share price shot up 3.1% during mid-day trading on Tuesday . The company traded as high as $25.20 and last traded at $25.20. 294,113 shares changed hands during trading, a decline of 74% from the average session volume of 1,130,678 shares. The stock had previously closed at $24.44.

Analyst Ratings Changes

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

Denali Therapeutics Stock Up 2.8 %

The company has a market cap of $3.58 billion, a price-to-earnings ratio of -26.17 and a beta of 1.40. The company's 50-day moving average is $23.12 and its 200 day moving average is $20.65.

Denali Therapeutics (NASDAQ:DNLI - Get Free Report) last released its quarterly earnings results on Thursday, August 1st. The company reported ($0.59) EPS for the quarter, beating the consensus estimate 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. The firm's quarterly revenue was down 99.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.30 EPS. Analysts predict that Denali Therapeutics Inc. will post -2.54 EPS for the current fiscal year.

Insider Buying and Selling at Denali Therapeutics

In other Denali Therapeutics 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 directly owns 34,404 shares of the company's stock, valued at $761,016.48. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Denali Therapeutics 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 directly owns 34,404 shares of the company's stock, valued at $761,016.48. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Jennifer E. Cook sold 1,458 shares of the stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $21.73, for a total transaction of $31,682.34. Following the transaction, the director now directly owns 20,038 shares in the company, valued at $435,425.74. The disclosure for this sale can be found here. Insiders have sold a total of 32,146 shares of company stock valued at $710,274 over the last ninety days. Corporate insiders own 7.90% of the company's stock.

Hedge Funds Weigh In On Denali Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the business. CWM LLC lifted its stake in shares of Denali Therapeutics by 216.7% in the fourth quarter. CWM LLC now owns 2,011 shares of the company's stock worth $43,000 after buying an additional 1,376 shares in the last quarter. GAMMA Investing LLC raised its stake in Denali Therapeutics by 879.5% during the second quarter. GAMMA Investing LLC now owns 2,057 shares of the company's stock worth $48,000 after purchasing an additional 1,847 shares during the period. PNC Financial Services Group Inc. raised its stake in Denali Therapeutics by 48.1% during the fourth quarter. PNC Financial Services Group Inc. now owns 2,486 shares of the company's stock worth $53,000 after purchasing an additional 807 shares during the period. Fisher Asset Management LLC purchased a new stake in shares of Denali Therapeutics in the 4th quarter valued at approximately $59,000. Finally, Assetmark Inc. grew its stake in shares of Denali Therapeutics by 65.3% in the 4th quarter. Assetmark Inc. now owns 3,550 shares of the company's stock valued at $76,000 after buying an additional 1,402 shares during the period. 92.92% of the stock is owned by hedge funds and other institutional investors.

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.