Denali Therapeutics (NASDAQ:DNLI) Sets New 12-Month Low on Analyst Downgrade

Denali Therapeutics Inc. (NASDAQ:DNLI) reached 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. The stock had previously closed at $15.20.

A number of other equities analysts also recently commented on DNLI. HC Wainwright increased their price objective on Denali Therapeutics from $80.00 to $87.00 and gave the stock a “buy” rating in a report on Friday. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Denali Therapeutics in a research note on Tuesday, February 11th. They issued a “buy” rating and a $31.00 target price on the stock. Stifel Nicolaus raised Denali Therapeutics from a “hold” rating to a “buy” rating and set a $37.00 price target for the company in a report on Monday, December 16th. Baird R W raised shares of Denali Therapeutics to a “strong-buy” rating in a report on Tuesday, January 7th. Finally, William Blair reiterated an “outperform” rating on shares of Denali Therapeutics in a research report on Friday. Two analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $37.77.

Insider Activity

In other Denali Therapeutics news, Director Vicki L. Sato sold 3,080 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The shares were 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 owns 107,976 shares in the company, valued at approximately $2,257,778.16. This trade represents a 2.77 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Ryan J. Watts sold 29,266 shares of the stock in a transaction 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 approximately $5,271,778.62. This trade represents a 10.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 47,940 shares of company stock worth $973,442. Corporate insiders own 7.90% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. FMR LLC boosted its position in shares of Denali Therapeutics by 3,234.3% during the third quarter. FMR LLC now owns 7,831,378 shares of the company’s stock valued at $228,128,000 after buying an additional 7,596,508 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Denali Therapeutics by 63.2% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,749,486 shares of the company’s stock worth $109,223,000 after buying an additional 1,451,770 shares during the last quarter. Norges Bank bought a new stake in Denali Therapeutics in the fourth quarter worth about $21,717,000. Wellington Management Group LLP boosted its stake in Denali Therapeutics by 9.2% in the third quarter. Wellington Management Group LLP now owns 10,727,450 shares of the company’s stock valued at $312,491,000 after acquiring an additional 903,683 shares during the last quarter. Finally, Vanguard Group Inc. grew its position in shares of Denali Therapeutics by 7.6% during the 4th quarter. Vanguard Group Inc. now owns 12,021,230 shares of the company’s stock valued at $244,993,000 after acquiring an additional 843,996 shares during the period. 92.92% of the stock is owned by institutional investors and hedge funds.

Denali Therapeutics Stock Performance

The company has a market cap of $2.16 billion, a PE ratio of -5.44 and a beta of 1.43. The company’s 50 day moving average price is $21.17 and its 200-day moving average price is $24.51.

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. Equities research analysts expect that Denali Therapeutics Inc. will post -2.71 EPS for the current 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.