Denali Therapeutics (NASDAQ:DNLI) Reaches New 1-Year High at $31.00

Denali Therapeutics Inc. (NASDAQ:DNLI)’s share price hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $31.00 and last traded at $31.00, with a volume of 87994 shares traded. The stock had previously closed at $30.33.

Analyst Ratings Changes

Several analysts have weighed in on the stock. HC Wainwright reaffirmed a “buy” rating and set a $90.00 price objective on shares of Denali Therapeutics in a research note on Wednesday, September 4th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $35.00 price target on shares of Denali Therapeutics in a report on Monday, September 9th. Wedbush cut their price objective on Denali Therapeutics from $30.00 to $26.00 and set an “outperform” rating for the company in a research report on Friday, August 2nd. Citigroup increased their target price on Denali Therapeutics from $26.00 to $32.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Finally, JPMorgan Chase & Co. increased their price objective on Denali Therapeutics from $28.00 to $29.00 and gave the company an “overweight” rating in a research report on Wednesday, July 10th. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $38.33.

Denali Therapeutics Price Performance

The business has a 50 day simple moving average of $24.43 and a 200-day simple moving average of $21.35. The stock has a market capitalization of $4.39 billion, a price-to-earnings ratio of -32.04 and a beta of 1.37.

Denali Therapeutics (NASDAQ:DNLI) last released its quarterly earnings data on Thursday, August 1st. The company reported ($0.59) earnings per share for the quarter, beating the consensus estimate of ($0.68) by $0.09. The business had revenue of $1.00 million for the quarter, compared to the consensus estimate of $10.00 million. During the same quarter last year, the firm earned $1.30 EPS. The company’s revenue for the quarter was down 99.7% on a year-over-year basis. As a group, equities analysts predict that Denali Therapeutics Inc. will post -2.54 earnings per share for the current year.

Insider Buying and Selling at Denali Therapeutics

In other news, Director Steve E. Krognes sold 30,000 shares of the stock in a transaction on Monday, July 1st. The shares were sold at an average price of $22.12, for a total transaction of $663,600.00. Following the completion of the sale, the director now owns 34,404 shares of the company’s stock, valued at $761,016.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 7.90% of the company’s stock.

Institutional Trading of Denali Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of DNLI. Vanguard Group Inc. grew its stake in Denali Therapeutics by 1.2% in the first quarter. Vanguard Group Inc. now owns 10,968,293 shares of the company’s stock valued at $225,069,000 after purchasing an additional 133,810 shares in the last quarter. Capital Research Global Investors boosted its holdings in shares of Denali Therapeutics by 107.9% in the 1st quarter. Capital Research Global Investors now owns 6,049,957 shares of the company’s stock valued at $124,145,000 after buying an additional 3,140,429 shares during the last quarter. Baker BROS. Advisors LP grew its stake in shares of Denali Therapeutics by 43.1% in the first quarter. Baker BROS. Advisors LP now owns 3,731,695 shares of the company’s stock valued at $76,574,000 after buying an additional 1,124,499 shares in the last quarter. Marshall Wace LLP grew its stake in shares of Denali Therapeutics by 12.7% in the second quarter. Marshall Wace LLP now owns 2,418,833 shares of the company’s stock valued at $56,165,000 after buying an additional 272,454 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in Denali Therapeutics by 6.3% during the second quarter. Dimensional Fund Advisors LP now owns 1,417,472 shares of the company’s stock worth $32,913,000 after buying an additional 84,522 shares during the last quarter. Institutional investors and hedge funds own 92.92% of the company’s stock.

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.