Denali Therapeutics (NASDAQ:DNLI) Trading 3.1% Higher – Should You Buy?

Denali Therapeutics Inc. (NASDAQ:DNLI)’s stock price was up 3.1% during trading on Wednesday . The company traded as high as $21.83 and last traded at $21.83. Approximately 95,664 shares traded hands during trading, a decline of 90% from the average daily volume of 943,706 shares. The stock had previously closed at $21.18.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. HC Wainwright cut their price target on shares of Denali Therapeutics from $90.00 to $87.00 and set a “buy” rating on the stock in a report on Tuesday. Stifel Nicolaus upgraded Denali Therapeutics from a “hold” rating to a “buy” rating and set a $37.00 price target for the company in a research note on Monday, December 16th. Raymond James restated a “market perform” rating on shares of Denali Therapeutics in a research note on Thursday, October 10th. Cantor Fitzgerald cut shares of Denali Therapeutics from an “overweight” rating to a “neutral” rating in a research note on Monday, October 7th. Finally, William Blair began coverage on shares of Denali Therapeutics in a research note on Friday, January 3rd. They set an “outperform” rating on the stock. Two equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Denali Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus target price of $38.91.

Denali Therapeutics Stock Down 10.1 %

The stock has a market cap of $2.75 billion, a PE ratio of -6.92 and a beta of 1.39. The business has a 50 day moving average price of $24.13 and a 200 day moving average price of $24.83.

Denali Therapeutics (NASDAQ:DNLI) last posted its earnings results on Wednesday, November 6th. The company reported ($0.63) earnings per share for the quarter, missing the consensus estimate of ($0.60) by ($0.03). During the same quarter in the previous year, the firm earned ($0.72) EPS. On average, research analysts predict that Denali Therapeutics Inc. will post -2.71 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Ryan J. Watts sold 29,266 shares of the company’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $20.22, for a total value of $591,758.52. Following the transaction, the chief executive officer now directly owns 260,721 shares in the company, valued at approximately $5,271,778.62. This represents a 10.09 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Steve E. Krognes sold 3,339 shares of Denali Therapeutics stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $20.81, for a total value of $69,484.59. Following the completion of the sale, the director now owns 25,757 shares in the company, valued at $536,003.17. This represents a 11.48 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 104,518 shares of company stock worth $2,576,982 in the last ninety days. Company insiders own 7.90% of the company’s stock.

Hedge Funds Weigh In On Denali Therapeutics

Institutional investors have recently bought and sold shares of the company. Wellington Management Group LLP increased its position in shares of Denali Therapeutics by 9.2% in the 3rd quarter. Wellington Management Group LLP now owns 10,727,450 shares of the company’s stock valued at $312,491,000 after purchasing an additional 903,683 shares during the last quarter. FMR LLC boosted its stake in shares of Denali Therapeutics by 3,234.3% during the third quarter. FMR LLC now owns 7,831,378 shares of the company’s stock worth $228,128,000 after buying an additional 7,596,508 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Denali Therapeutics by 63.2% during the third 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 purchasing an additional 1,451,770 shares during the last quarter. Marshall Wace LLP boosted its holdings in shares of Denali Therapeutics by 12.7% in the second quarter. Marshall Wace LLP now owns 2,418,833 shares of the company’s stock valued at $56,165,000 after acquiring an additional 272,454 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of Denali Therapeutics by 6.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,417,472 shares of the company’s stock worth $32,913,000 after buying an additional 84,522 shares in the last quarter. 92.92% of the stock is owned by institutional investors and hedge funds.

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.