Denali Therapeutics (NASDAQ:DNLI) Hits New 1-Year Low – Time to Sell?

Denali Therapeutics Inc. (NASDAQ:DNLI) reached a new 52-week low on Tuesday . The company traded as low as $13.30 and last traded at $13.60, with a volume of 3555583 shares. The stock had previously closed at $14.78.

Analyst Ratings Changes

DNLI has been the topic of several research analyst reports. Deutsche Bank Aktiengesellschaft started coverage on Denali Therapeutics in a report on Tuesday, February 11th. They issued a “buy” rating and a $31.00 price objective on the stock. Oppenheimer dropped their price target 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. JPMorgan Chase & Co. reduced their price objective on shares of Denali Therapeutics from $28.00 to $24.00 and set an “overweight” rating for the company in a research report on Tuesday, January 7th. The Goldman Sachs Group dropped their target price on shares of Denali Therapeutics from $45.00 to $40.00 and set a “buy” rating on the stock in a research report on Tuesday, January 28th. Finally, 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 research report on Wednesday, March 5th. Two analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $37.20.

Denali Therapeutics Stock Up 11.8 %

The firm has a market capitalization of $2.00 billion, a PE ratio of -4.98 and a beta of 1.58. The business has a 50-day moving average price of $18.48 and a 200-day moving average price of $22.91.

Denali Therapeutics (NASDAQ:DNLI) last issued its earnings results on Thursday, February 27th. The company reported ($0.67) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.75) by $0.08. On average, equities research analysts anticipate that Denali Therapeutics Inc. will post -2.71 earnings per share for the current year.

Insider Activity at Denali Therapeutics

In other news, Director Steve E. Krognes sold 3,339 shares of the stock in a transaction that occurred on 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 of the company’s stock, valued at $536,003.17. This represents a 11.48 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Ryan J. Watts sold 29,266 shares of the firm’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $20.22, for a total transaction of $591,758.52. Following the sale, the chief executive officer now owns 260,721 shares of the company’s stock, valued at $5,271,778.62. This represents a 10.09 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 44,860 shares of company stock valued at $909,039. 7.90% of the stock is owned by company insiders.

Hedge Funds Weigh In On Denali Therapeutics

Several large investors have recently modified their holdings of the business. The Manufacturers Life Insurance Company raised its holdings in Denali Therapeutics by 20.0% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 206,819 shares of the company’s stock valued at $6,025,000 after buying an additional 34,538 shares during the period. BNP Paribas Financial Markets increased its position in shares of Denali Therapeutics by 230.2% during the third quarter. BNP Paribas Financial Markets now owns 27,625 shares of the company’s stock valued at $805,000 after acquiring an additional 19,259 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Denali Therapeutics by 12.6% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 29,719 shares of the company’s stock valued at $866,000 after acquiring an additional 3,316 shares during the period. Erste Asset Management GmbH acquired a new position in shares of Denali Therapeutics in the 3rd quarter worth approximately $792,000. Finally, Holocene Advisors LP boosted its position in shares of Denali Therapeutics by 65.0% during the 3rd quarter. Holocene Advisors LP now owns 97,447 shares of the company’s stock worth $2,839,000 after purchasing an additional 38,405 shares during the period. Institutional investors and hedge funds own 92.92% of the company’s stock.

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.