Denali Therapeutics (NASDAQ:DNLI) Shares Gap Up – Here’s Why

Denali Therapeutics Inc. (NASDAQ:DNLI) shares gapped up before the market opened on Monday . The stock had previously closed at $22.97, but opened at $23.86. Denali Therapeutics shares last traded at $23.20, with a volume of 48,081 shares traded.

Analysts Set New Price Targets

Several research analysts have commented on the company. Cantor Fitzgerald downgraded Denali Therapeutics from an “overweight” rating to a “neutral” rating in a report on Monday, October 7th. Stifel Nicolaus raised Denali Therapeutics from a “hold” rating to a “buy” rating and set a $37.00 price objective on the stock in a research note on Monday. Bank of America boosted their price objective on Denali Therapeutics from $25.00 to $29.00 and gave the company a “buy” rating in a research note on Wednesday, September 4th. HC Wainwright reissued a “buy” rating and issued a $90.00 price objective on shares of Denali Therapeutics in a research note on Thursday, November 7th. Finally, Jefferies Financial Group boosted their price objective on Denali Therapeutics from $40.00 to $45.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Two equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $40.40.

Denali Therapeutics Trading Up 4.4 %

The business has a fifty day simple moving average of $26.28 and a 200 day simple moving average of $24.85. The stock has a market capitalization of $3.45 billion, a P/E ratio of -8.49 and a beta of 1.35.

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

Insider Activity

In other news, Director Vicki L. Sato sold 1,020 shares of the company’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $30.00, for a total value of $30,600.00. Following the completion of the transaction, the director now directly owns 111,056 shares of the company’s stock, valued at $3,331,680. This represents a 0.91 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Alexander O. Schuth sold 15,558 shares of the company’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $29.91, for a total value of $465,339.78. Following the completion of the transaction, the insider now directly owns 178,066 shares of the company’s stock, valued at approximately $5,325,954.06. This represents a 8.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 86,578 shares of company stock valued at $2,474,440 over the last three months. Corporate insiders own 7.90% of the company’s stock.

Hedge Funds Weigh In On Denali Therapeutics

Institutional investors have recently bought and sold shares of the company. CWM LLC lifted its stake in Denali Therapeutics by 43.6% in the third quarter. CWM LLC now owns 2,153 shares of the company’s stock valued at $63,000 after purchasing an additional 654 shares during the last quarter. Quest Partners LLC purchased a new position in Denali Therapeutics in the third quarter valued at approximately $73,000. Assetmark Inc. lifted its stake in Denali Therapeutics by 18.0% in the third quarter. Assetmark Inc. now owns 3,808 shares of the company’s stock valued at $111,000 after purchasing an additional 580 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Denali Therapeutics by 21.6% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,178 shares of the company’s stock worth $152,000 after acquiring an additional 920 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Denali Therapeutics during the second quarter worth $194,000. 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.