Denali Therapeutics (NASDAQ:DNLI) Shares Gap Down After Analyst Downgrade

Denali Therapeutics Inc. (NASDAQ:DNLI)’s share price gapped down before the market opened on Tuesday after HC Wainwright lowered their price target on the stock from $90.00 to $87.00. The stock had previously closed at $19.82, but opened at $18.75. HC Wainwright currently has a buy rating on the stock. Denali Therapeutics shares last traded at $20.91, with a volume of 193,497 shares changing hands.

Several other equities research analysts have also weighed in on DNLI. JPMorgan Chase & Co. reduced their target price on Denali Therapeutics from $29.00 to $28.00 and set an “overweight” rating for the company in a report on Friday, October 11th. William Blair assumed coverage on shares of Denali Therapeutics in a research note on Friday. They issued an “outperform” rating for the company. Stifel Nicolaus upgraded shares of Denali Therapeutics from a “hold” rating to a “buy” rating and set a $37.00 target price on the stock in a research note on Monday, December 16th. Raymond James reissued a “market perform” rating on shares of Denali Therapeutics in a research report on Thursday, October 10th. Finally, Jefferies Financial Group raised their price target on Denali Therapeutics from $40.00 to $45.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Two research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $39.27.

Insiders Place Their Bets

In related news, insider Alexander O. Schuth sold 15,558 shares of the company’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $29.91, for a total value of $465,339.78. Following the sale, the insider now owns 178,066 shares of the company’s stock, valued at $5,325,954.06. The trade was a 8.04 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Vicki L. Sato sold 1,020 shares of the firm’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $30.00, for a total transaction of $30,600.00. Following the transaction, the director now owns 111,056 shares of the company’s stock, valued at approximately $3,331,680. This represents a 0.91 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 59,658 shares of company stock worth $1,667,943. 7.90% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Denali Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the stock. FMR LLC raised its stake in 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 acquiring an additional 7,596,508 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Denali Therapeutics by 63.2% during the 3rd 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 in the last quarter. Point72 Asset Management L.P. bought a new position in Denali Therapeutics during the 2nd quarter valued at about $24,454,000. Wellington Management Group LLP boosted its position in Denali Therapeutics by 9.2% in the third quarter. Wellington Management Group LLP now owns 10,727,450 shares of the company’s stock valued at $312,491,000 after buying an additional 903,683 shares in the last quarter. Finally, Integral Health Asset Management LLC bought a new stake in Denali Therapeutics during the second quarter worth about $7,546,000. Institutional investors own 92.92% of the company’s stock.

Denali Therapeutics Stock Up 5.0 %

The company’s fifty day moving average price is $24.46 and its two-hundred day moving average price is $24.89. The company has a market cap of $3.00 billion, a price-to-earnings ratio of -7.54 and a beta of 1.39.

Denali Therapeutics (NASDAQ:DNLI) last released its quarterly earnings results on Wednesday, November 6th. The company reported ($0.63) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.60) by ($0.03). During the same quarter in the previous year, the business earned ($0.72) earnings per share. Research analysts forecast that Denali Therapeutics Inc. will post -2.71 earnings per share for the current year.

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.