Denali Therapeutics (NASDAQ:DNLI) Hits New 1-Year High at $25.90

Denali Therapeutics Inc. (NASDAQ:DNLI)’s stock price hit a new 52-week high during trading on Tuesday . The company traded as high as $25.90 and last traded at $25.84, with a volume of 133078 shares changing hands. The stock had previously closed at $25.59.

Analysts Set New Price Targets

Several equities analysts have issued reports on DNLI shares. JPMorgan Chase & Co. boosted their target price on Denali Therapeutics from $28.00 to $29.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 10th. Bank of America boosted their target price on shares of Denali Therapeutics from $25.00 to $29.00 and gave the stock a “buy” rating in a research report on Wednesday, September 4th. Citigroup increased their price target on shares of Denali Therapeutics from $26.00 to $32.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Cantor Fitzgerald reissued an “overweight” rating and set a $35.00 price objective on shares of Denali Therapeutics in a report on Monday. Finally, Wedbush dropped their target price on shares of Denali Therapeutics from $30.00 to $26.00 and set an “outperform” rating for the company in a report on Friday, August 2nd. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, Denali Therapeutics has a consensus rating of “Moderate Buy” and a consensus price target of $38.33.

Denali Therapeutics Stock Up 0.4 %

The firm’s fifty day simple moving average is $23.43 and its 200-day simple moving average is $20.96. The company has a market cap of $3.88 billion, a PE ratio of -28.21 and a beta of 1.37.

Denali Therapeutics (NASDAQ:DNLI) last posted its earnings results on Thursday, August 1st. The company reported ($0.59) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.68) by $0.09. The company had revenue of $1.00 million during the quarter, compared to analysts’ expectations of $10.00 million. During the same period in the previous year, the company posted $1.30 EPS. Denali Therapeutics’s quarterly revenue was down 99.7% compared to the same quarter last year. On average, analysts predict that Denali Therapeutics Inc. will post -2.54 earnings per share for the current year.

Insider Buying and Selling

In other Denali Therapeutics news, Director Steve E. Krognes sold 30,000 shares of the business’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $22.12, for a total value of $663,600.00. Following the completion of the transaction, the director now directly owns 34,404 shares in the company, valued at approximately $761,016.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 7.90% of the stock is owned by company insiders.

Institutional Investors Weigh In On Denali Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of the stock. GAMMA Investing LLC lifted its position in Denali Therapeutics by 879.5% during the 2nd quarter. GAMMA Investing LLC now owns 2,057 shares of the company’s stock worth $48,000 after acquiring an additional 1,847 shares in the last quarter. PNC Financial Services Group Inc. raised its stake in shares of Denali Therapeutics by 48.1% during the fourth quarter. PNC Financial Services Group Inc. now owns 2,486 shares of the company’s stock valued at $53,000 after purchasing an additional 807 shares during the period. Fisher Asset Management LLC acquired a new position in shares of Denali Therapeutics during the fourth quarter worth $59,000. Assetmark Inc. boosted its stake in shares of Denali Therapeutics by 65.3% in the fourth quarter. Assetmark Inc. now owns 3,550 shares of the company’s stock valued at $76,000 after purchasing an additional 1,402 shares during the period. Finally, Headlands Technologies LLC acquired a new stake in Denali Therapeutics during the 1st quarter valued at $88,000. Hedge funds and other institutional investors 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.