Denali Therapeutics (NASDAQ:DNLI) Sets New 12-Month Low – Should You Sell?

Denali Therapeutics Inc. (NASDAQ:DNLI)’s share price hit a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $13.30 and last traded at $13.60, with a volume of 3555583 shares changing hands. The stock had previously closed at $14.78.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. Bank of America dropped their price objective on shares of Denali Therapeutics from $30.00 to $28.00 and set a “buy” rating for the company in a research note on Monday, March 10th. The Goldman Sachs Group cut their price target on shares of Denali Therapeutics from $45.00 to $40.00 and set a “buy” rating for the company in a research note on Tuesday, January 28th. JPMorgan Chase & Co. lowered their price objective on Denali Therapeutics from $28.00 to $24.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 7th. Robert W. Baird started coverage on Denali Therapeutics in a research report on Tuesday, January 7th. They set an “outperform” rating and a $31.00 target price for the company. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on Denali Therapeutics in a research report on Tuesday, February 11th. They issued a “buy” rating and a $31.00 price target on the stock. Two equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $37.20.

Denali Therapeutics Price Performance

The stock’s 50 day simple moving average is $18.88 and its two-hundred day simple moving average is $23.11. The company has a market capitalization of $1.97 billion, a P/E ratio of -4.93 and a beta of 1.46.

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

Insider Activity at Denali Therapeutics

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 value of $64,402.80. Following the transaction, the director now directly owns 107,976 shares of the company’s stock, valued at approximately $2,257,778.16. This trade represents a 2.77 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Steve E. Krognes sold 3,339 shares of Denali Therapeutics stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $20.81, for a total transaction of $69,484.59. Following the sale, the director now directly owns 25,757 shares of the company’s stock, valued at $536,003.17. This represents a 11.48 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 47,940 shares of company stock worth $973,442 over the last 90 days. Insiders own 7.90% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in Denali Therapeutics by 7.6% in the fourth quarter. Vanguard Group Inc. now owns 12,021,230 shares of the company’s stock valued at $244,993,000 after buying an additional 843,996 shares during the period. Wellington Management Group LLP raised its position in shares of Denali Therapeutics by 9.2% in the 3rd 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 period. FMR LLC boosted its stake in Denali Therapeutics by 2.4% during the 4th quarter. FMR LLC now owns 8,019,746 shares of the company’s stock worth $163,442,000 after acquiring an additional 188,368 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Denali Therapeutics by 63.2% in 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 valued at $109,223,000 after purchasing an additional 1,451,770 shares in the last quarter. Finally, Alliancebernstein L.P. raised its holdings in Denali Therapeutics by 8.8% in the fourth quarter. Alliancebernstein L.P. now owns 3,315,642 shares of the company’s stock worth $67,573,000 after purchasing an additional 268,378 shares during the period. 92.92% of the stock is currently owned by institutional investors.

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.