Denali Therapeutics (NASDAQ:DNLI) Shares Gap Up – Time to Buy?

Denali Therapeutics Inc. (NASDAQ:DNLI) shares gapped up before the market opened on Tuesday . The stock had previously closed at $20.88, but opened at $21.48. Denali Therapeutics shares last traded at $21.30, with a volume of 61,176 shares trading hands.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Baird R W upgraded shares of Denali Therapeutics to a “strong-buy” rating in a research note on Tuesday, January 7th. Deutsche Bank Aktiengesellschaft began coverage on shares of Denali Therapeutics in a research report on Tuesday. They set a “buy” rating and a $31.00 price target on the stock. William Blair reiterated an “outperform” rating on shares of Denali Therapeutics in a research note on Wednesday, January 15th. Jefferies Financial Group boosted their target price on Denali Therapeutics from $40.00 to $45.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Finally, The Goldman Sachs Group decreased their price target on Denali Therapeutics from $45.00 to $40.00 and set a “buy” rating for the company in a research note on Tuesday, January 28th. Two research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $37.42.

Denali Therapeutics Stock Up 1.2 %

The stock has a fifty day moving average of $21.98 and a 200-day moving average of $24.76.

Insider Buying and Selling

In related news, insider Carole Ho sold 12,255 shares of the company’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $20.22, for a total value 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 represents a 6.42 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Vicki L. Sato sold 3,080 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $20.91, for a total transaction of $64,402.80. Following the completion of the transaction, the director now directly owns 107,976 shares of the company’s stock, valued at $2,257,778.16. This represents a 2.77 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 47,940 shares of company stock valued at $973,442. 7.90% of the stock is owned by corporate insiders.

Institutional Trading of Denali Therapeutics

A number of hedge funds have recently modified their holdings of the business. MONECO Advisors LLC raised its position in Denali Therapeutics by 4.6% during the third quarter. MONECO Advisors LLC now owns 9,100 shares of the company’s stock valued at $265,000 after buying an additional 400 shares during the period. Rhumbline Advisers grew its stake in Denali Therapeutics by 0.3% during the 4th quarter. Rhumbline Advisers now owns 190,390 shares of the company’s stock valued at $3,880,000 after acquiring an additional 497 shares in the last quarter. Assetmark Inc. increased its holdings in shares of Denali Therapeutics by 18.0% in the 3rd 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 period. CWM LLC lifted its position in shares of Denali Therapeutics by 43.6% in the third quarter. CWM LLC now owns 2,153 shares of the company’s stock worth $63,000 after purchasing an additional 654 shares in the last quarter. Finally, PNC Financial Services Group Inc. boosted its holdings in shares of Denali Therapeutics by 30.5% during the fourth quarter. PNC Financial Services Group Inc. now owns 3,790 shares of the company’s stock worth $77,000 after purchasing an additional 885 shares during the period. Hedge funds and other institutional investors 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.