Denali Therapeutics (NASDAQ:DNLI) Trading Up 3.1% – What’s Next?

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

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on DNLI shares. Cantor Fitzgerald downgraded shares of Denali Therapeutics from an “overweight” rating to a “neutral” rating in a research note on Monday, October 7th. Jefferies Financial Group upped their price objective on Denali Therapeutics from $40.00 to $45.00 and gave the company a “buy” rating in a report on Friday, November 1st. Stifel Nicolaus upgraded shares of Denali Therapeutics from a “hold” rating to a “buy” rating and set a $37.00 price objective for the company in a research note on Monday, December 16th. Robert W. Baird began coverage on shares of Denali Therapeutics in a research report on Tuesday. They issued an “outperform” rating and a $31.00 price target for the company. Finally, William Blair initiated coverage on Denali Therapeutics in a research report on Friday, January 3rd. They set an “outperform” rating on the stock. Two research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Denali Therapeutics has an average rating of “Moderate Buy” and an average target price of $38.91.

Denali Therapeutics Stock Up 1.7 %

The firm has a 50-day simple moving average of $24.34 and a 200-day simple moving average of $24.88. The stock has a market cap of $3.10 billion, a PE ratio of -7.80 and a beta of 1.39.

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

Insiders Place Their Bets

In other Denali Therapeutics news, Director Vicki L. Sato sold 1,020 shares of the business’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $30.00, for a total value of $30,600.00. Following the transaction, the director now owns 111,056 shares in the company, valued at approximately $3,331,680. The trade was a 0.91 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Ryan J. Watts sold 40,000 shares of the company’s stock in a transaction that occurred on Friday, October 18th. The shares were sold at an average price of $27.69, for a total value of $1,107,600.00. Following the transaction, the chief executive officer now directly owns 235,807 shares of the company’s stock, valued at $6,529,495.83. The trade was a 14.50 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 59,658 shares of company stock valued at $1,667,943 over the last three months. Insiders own 7.90% of the company’s stock.

Institutional Trading of Denali Therapeutics

Large investors have recently added to or reduced their stakes in the stock. Wellington Management Group LLP lifted 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 worth $312,491,000 after purchasing an additional 903,683 shares during the period. FMR LLC raised its stake in Denali Therapeutics by 3,234.3% in 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 in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Denali Therapeutics by 63.2% in 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 buying an additional 1,451,770 shares during the period. Marshall Wace LLP boosted its position in Denali Therapeutics by 12.7% during the 2nd 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 grew its holdings 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 acquiring an additional 84,522 shares during the period. 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.