Denali Therapeutics (NASDAQ:DNLI) Sets New 12-Month High – Here’s What Happened

Shares of Denali Therapeutics Inc. (NASDAQ:DNLI) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $32.37 and last traded at $32.37, with a volume of 978 shares. The stock had previously closed at $31.35.

Analyst Upgrades and Downgrades

DNLI has been the topic of several research analyst reports. 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 report on Friday, November 1st. Wedbush dropped their price target on Denali Therapeutics from $30.00 to $26.00 and set an “outperform” rating for the company in a research note on Friday, August 2nd. Citigroup lifted their price objective on shares of Denali Therapeutics from $26.00 to $32.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Raymond James reiterated a “market perform” rating on shares of Denali Therapeutics in a research note on Thursday, October 10th. Finally, HC Wainwright restated a “buy” rating and set a $90.00 price target on shares of Denali Therapeutics in a report on Thursday, November 7th. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $38.90.

Denali Therapeutics Stock Performance

The company has a market capitalization of $4.30 billion, a P/E ratio of -10.83 and a beta of 1.40. The firm’s fifty day moving average is $28.05 and its 200 day moving average is $23.84.

Denali Therapeutics (NASDAQ:DNLI) last issued its quarterly earnings results on Wednesday, November 6th. The company reported ($0.63) earnings per share for the quarter, missing the consensus estimate of ($0.60) by ($0.03). During the same period in the previous year, the firm posted ($0.72) earnings per share. On average, analysts forecast that Denali Therapeutics Inc. will post -2.62 EPS for the current year.

Insider Activity at Denali Therapeutics

In other Denali Therapeutics news, Director Vicki L. Sato sold 1,020 shares of Denali Therapeutics stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $30.00, for a total transaction of $30,600.00. Following the completion of the sale, the director now directly owns 111,056 shares of the company’s stock, valued at $3,331,680. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Denali Therapeutics news, Director Vicki L. Sato sold 1,020 shares of the firm’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $30.00, for a total transaction of $30,600.00. Following the transaction, the director now owns 111,056 shares of the company’s stock, valued at approximately $3,331,680. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed 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 stock was sold at an average price of $29.91, for a total transaction of $465,339.78. Following the completion of the sale, the insider now directly owns 178,066 shares of the company’s stock, valued at $5,325,954.06. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 86,578 shares of company stock worth $2,474,440 in the last 90 days. 7.90% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Denali Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in DNLI. GAMMA Investing LLC boosted its holdings in shares of Denali Therapeutics by 879.5% in the 2nd quarter. GAMMA Investing LLC now owns 2,057 shares of the company’s stock valued at $48,000 after buying an additional 1,847 shares in the last quarter. CWM LLC boosted 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 acquiring an additional 654 shares in the last quarter. Quest Partners LLC purchased a new position in Denali Therapeutics in the third quarter worth $73,000. Headlands Technologies LLC acquired a new position in shares of Denali Therapeutics during the first quarter worth $88,000. Finally, Assetmark Inc. lifted its holdings in shares of Denali Therapeutics by 18.0% during 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 last quarter. 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.