Denali Therapeutics (NASDAQ:DNLI) Hits New 52-Week Low on Analyst Downgrade

Denali Therapeutics Inc. (NASDAQ:DNLI) hit a new 52-week low on Tuesday after Oppenheimer lowered their price target on the stock from $50.00 to $42.00. Oppenheimer currently has an outperform rating on the stock. Denali Therapeutics traded as low as $14.01 and last traded at $14.61, with a volume of 376874 shares trading hands. The stock had previously closed at $15.20.

DNLI has been the topic of several other research reports. Robert W. Baird assumed coverage on Denali Therapeutics in a report on Tuesday, January 7th. They issued an “outperform” rating and a $31.00 target price on the stock. HC Wainwright lifted their price objective on shares of Denali Therapeutics from $80.00 to $87.00 and gave the company a “buy” rating in a research note on Friday. Baird R W upgraded shares of Denali Therapeutics to a “strong-buy” rating in a research note on Tuesday, January 7th. Stifel Nicolaus upgraded Denali Therapeutics from a “hold” rating to a “buy” rating and set a $37.00 price target on the stock in a research report on Monday, December 16th. Finally, The Goldman Sachs Group decreased their price objective on Denali Therapeutics from $45.00 to $40.00 and set a “buy” rating for the company in a research report on Tuesday, January 28th. Two investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Denali Therapeutics presently has an average rating of “Moderate Buy” and a consensus price target of $37.77.

Insider Activity

In other news, Director Steve E. Krognes sold 3,339 shares of the firm’s stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $20.81, for a total transaction of $69,484.59. Following the completion of the sale, the director now owns 25,757 shares of the company’s stock, valued at approximately $536,003.17. This trade represents a 11.48 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Carole Ho sold 12,255 shares of the company’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $20.22, for a total transaction of $247,796.10. Following the completion of the sale, the insider now directly owns 178,580 shares in the company, valued at $3,610,887.60. This represents a 6.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 47,940 shares of company stock valued at $973,442. Company insiders own 7.90% of the company’s stock.

Institutional Investors Weigh In On Denali Therapeutics

A number of institutional investors have recently modified their holdings of DNLI. Victory Capital Management Inc. increased its holdings in Denali Therapeutics by 163.7% in the third quarter. Victory Capital Management Inc. now owns 39,900 shares of the company’s stock valued at $1,162,000 after buying an additional 24,767 shares during the last quarter. FMR LLC grew its stake in Denali Therapeutics by 3,234.3% during the 3rd quarter. FMR LLC now owns 7,831,378 shares of the company’s stock worth $228,128,000 after buying an additional 7,596,508 shares during the last quarter. Algert Global LLC grew its holdings in Denali Therapeutics by 82.4% in the 3rd quarter. Algert Global LLC now owns 48,630 shares of the company’s stock worth $1,417,000 after buying an additional 21,975 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Denali Therapeutics by 6.5% during the third quarter. JPMorgan Chase & Co. now owns 235,386 shares of the company’s stock valued at $6,857,000 after purchasing an additional 14,324 shares during the period. Finally, Principal Financial Group Inc. increased its holdings in shares of Denali Therapeutics by 13.8% during the third quarter. Principal Financial Group Inc. now owns 1,238,476 shares of the company’s stock valued at $36,076,000 after purchasing an additional 149,939 shares during the period. Institutional investors and hedge funds own 92.92% of the company’s stock.

Denali Therapeutics Stock Down 1.2 %

The firm has a market capitalization of $2.16 billion, a P/E ratio of -5.44 and a beta of 1.43. The business’s 50 day moving average is $21.17 and its two-hundred day moving average is $24.51.

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

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.