Denali Therapeutics (NASDAQ:DNLI) Sets New 1-Year Low – Here’s What Happened

Denali Therapeutics Inc. (NASDAQ:DNLI)’s share price hit a new 52-week low during trading on Monday . The company traded as low as $10.57 and last traded at $10.61, with a volume of 98023 shares. The stock had previously closed at $11.78.

Wall Street Analysts Forecast Growth

Several analysts have commented on DNLI shares. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Denali Therapeutics in a research note on Tuesday, February 11th. They issued a “buy” rating and a $31.00 price target on the stock. Bank of America reduced their target price on shares of Denali Therapeutics from $30.00 to $28.00 and set a “buy” rating on the stock in a research note on Monday, March 10th. The Goldman Sachs Group reduced their price target on Denali Therapeutics from $45.00 to $40.00 and set a “buy” rating on the stock in a report on Tuesday, January 28th. Stifel Nicolaus raised shares of Denali Therapeutics from a “hold” rating to a “buy” rating and set a $37.00 target price for the company in a research note on Monday, December 16th. Finally, Baird R W upgraded shares of Denali Therapeutics to a “strong-buy” rating in a research note on Tuesday, January 7th. Two research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $37.20.

Denali Therapeutics Stock Down 1.1 %

The firm has a market capitalization of $1.67 billion, a price-to-earnings ratio of -4.16 and a beta of 1.58. The company’s 50 day moving average price is $17.35 and its 200 day moving average price is $22.25.

Denali Therapeutics (NASDAQ:DNLI) last issued its quarterly earnings results on Thursday, February 27th. The company reported ($0.67) EPS for the quarter, topping analysts’ consensus estimates of ($0.75) by $0.08. As a group, analysts expect that Denali Therapeutics Inc. will post -2.71 earnings per share for the current year.

Institutional Trading of Denali Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of DNLI. GAMMA Investing LLC raised its holdings in shares of Denali Therapeutics by 253.8% during the first quarter. GAMMA Investing LLC now owns 7,953 shares of the company’s stock worth $108,000 after purchasing an additional 5,705 shares during the last quarter. Polar Asset Management Partners Inc. grew its stake in shares of Denali Therapeutics by 1,240.9% during the 4th quarter. Polar Asset Management Partners Inc. now owns 551,092 shares of the company’s stock worth $11,231,000 after purchasing an additional 509,992 shares during the period. GF Fund Management CO. LTD. purchased a new position in shares of Denali Therapeutics during the 4th quarter valued at approximately $62,000. Woodline Partners LP purchased a new stake in Denali Therapeutics during the fourth quarter worth $2,038,000. Finally, Squarepoint Ops LLC increased its holdings in Denali Therapeutics by 44.2% in the fourth quarter. Squarepoint Ops LLC now owns 48,619 shares of the company’s stock valued at $991,000 after buying an additional 14,896 shares in the last quarter. 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.