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

Shares of Denali Therapeutics Inc. (NASDAQ:DNLI) gapped down prior to trading on Tuesday after JPMorgan Chase & Co. lowered their price target on the stock from $28.00 to $24.00. The stock had previously closed at $19.82, but opened at $18.75. JPMorgan Chase & Co. currently has an overweight rating on the stock. Denali Therapeutics shares last traded at $20.91, with a volume of 193,497 shares traded.

Other analysts also recently issued research reports about the company. Robert W. Baird assumed coverage on Denali Therapeutics in a research note on Tuesday. They issued an “outperform” rating and a $31.00 price objective on the stock. William Blair initiated coverage on shares of Denali Therapeutics in a research report on Friday, January 3rd. They issued an “outperform” rating on the stock. Jefferies Financial Group upped their price target on shares of Denali Therapeutics from $40.00 to $45.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Cantor Fitzgerald cut shares of Denali Therapeutics from an “overweight” rating to a “neutral” rating in a research note on Monday, October 7th. Finally, HC Wainwright decreased their target price on shares of Denali Therapeutics from $90.00 to $87.00 and set a “buy” rating on the stock in a research report on Tuesday. Two analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $38.91.

Insiders Place Their Bets

In other news, insider Alexander O. Schuth sold 15,558 shares of the company’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $29.91, for a total value of $465,339.78. Following the transaction, the insider now owns 178,066 shares of the company’s stock, valued at $5,325,954.06. This represents a 8.04 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Carole Ho sold 12,255 shares of the business’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $20.22, for a total transaction of $247,796.10. Following the completion of the sale, the insider now owns 178,580 shares in the company, valued at approximately $3,610,887.60. This trade represents a 6.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 104,518 shares of company stock valued at $2,576,982. Insiders own 7.90% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Wellington Management Group LLP grew its position in shares of Denali Therapeutics by 9.2% during the third quarter. Wellington Management Group LLP now owns 10,727,450 shares of the company’s stock worth $312,491,000 after buying an additional 903,683 shares in the last quarter. FMR LLC boosted 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 valued at $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 grew its holdings 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 increased its position in shares of Denali Therapeutics by 12.7% during the second quarter. Marshall Wace LLP now owns 2,418,833 shares of the company’s stock worth $56,165,000 after purchasing an additional 272,454 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in shares of Denali Therapeutics by 6.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,417,472 shares of the company’s stock valued at $32,913,000 after purchasing an additional 84,522 shares during the period. Institutional investors and hedge funds own 92.92% of the company’s stock.

Denali Therapeutics Trading Up 0.3 %

The stock has a market cap of $3.06 billion, a PE ratio of -7.70 and a beta of 1.39. The business has a 50 day moving average of $24.34 and a 200-day moving average of $24.88.

Denali Therapeutics (NASDAQ:DNLI) last issued its quarterly 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 period in the previous year, the business earned ($0.72) earnings per share. Research analysts expect that Denali Therapeutics Inc. will post -2.71 EPS for the current fiscal year.

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.