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

Shares of Denali Therapeutics Inc. (NASDAQ:DNLI) hit a new 52-week low on Wednesday . The company traded as low as $13.92 and last traded at $13.92, with a volume of 57467 shares trading hands. The stock had previously closed at $14.12.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on DNLI. Robert W. Baird began coverage on Denali Therapeutics in a report on Tuesday, January 7th. They issued an “outperform” rating and a $31.00 target price on the stock. B. Riley restated a “buy” rating and set a $35.00 price target (down previously from $38.00) on shares of Denali Therapeutics in a report on Wednesday, March 5th. Morgan Stanley initiated coverage on Denali Therapeutics in a report on Friday, March 7th. They issued an “overweight” rating and a $33.00 target price for the company. Oppenheimer lowered their target price on shares of Denali Therapeutics from $50.00 to $42.00 and set an “outperform” rating on the stock in a research note on Monday, March 3rd. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of Denali Therapeutics in a research note on Tuesday, February 11th. They set a “buy” rating and a $31.00 target price for the company. 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, the company currently has an average rating of “Moderate Buy” and a consensus target price of $37.20.

Denali Therapeutics Trading Down 0.6 %

The business has a 50 day moving average of $19.50 and a two-hundred day moving average of $23.46. The firm has a market cap of $2.04 billion, a P/E ratio of -5.09 and a beta of 1.46.

Denali Therapeutics (NASDAQ:DNLI) last announced its earnings results on Thursday, February 27th. The company reported ($0.67) EPS for the quarter, topping the consensus estimate of ($0.75) by $0.08. On average, sell-side analysts predict that Denali Therapeutics Inc. will post -2.71 EPS for the current year.

Insider Activity

In other news, CEO Ryan J. Watts sold 29,266 shares of Denali Therapeutics stock in a transaction on Monday, January 6th. The shares were sold at an average price of $20.22, for a total transaction of $591,758.52. Following the transaction, the chief executive officer now owns 260,721 shares in the company, valued at approximately $5,271,778.62. The trade was a 10.09 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Steve E. Krognes sold 3,339 shares of the company’s stock in a transaction dated 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 trade represents a 11.48 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 47,940 shares of company stock worth $973,442. 7.90% of the stock is currently owned by company insiders.

Institutional Trading of Denali Therapeutics

Several institutional investors have recently added to or reduced their stakes in DNLI. Sterling Capital Management LLC boosted its position in shares of Denali Therapeutics by 589.9% during the 4th quarter. Sterling Capital Management LLC now owns 1,773 shares of the company’s stock valued at $36,000 after purchasing an additional 1,516 shares in the last quarter. Quest Partners LLC bought a new position in shares of Denali Therapeutics during the 3rd quarter valued at approximately $73,000. GF Fund Management CO. LTD. bought a new position in Denali Therapeutics in the 4th quarter worth about $62,000. Point72 Hong Kong Ltd bought a new position in shares of Denali Therapeutics in the fourth quarter valued at approximately $65,000. Finally, PNC Financial Services Group Inc. lifted its stake in Denali Therapeutics by 30.5% in the 4th quarter. PNC Financial Services Group Inc. now owns 3,790 shares of the company’s stock worth $77,000 after purchasing an additional 885 shares in the last quarter. 92.92% of the stock is currently owned by institutional investors.

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.