By otakuyassine3@gmail.com 
Denali Therapeutics Inc. (NASDAQ:DNLI – Get Free Report)’s stock price gapped up before the market opened on Monday . The stock had previously closed at $22.97, but opened at $23.86. Denali Therapeutics shares last traded at $23.20, with a volume of 48,081 shares traded.
Analyst Upgrades and Downgrades
A number of research firms have weighed in on DNLI. Bank of America raised their price target on Denali Therapeutics from $25.00 to $29.00 and gave the company a “buy” rating in a research note on Wednesday, September 4th. Stifel Nicolaus upgraded Denali Therapeutics from a “hold” rating to a “buy” rating and set a $37.00 price target for the company in a research note on Monday. JPMorgan Chase & Co. decreased their price target on Denali Therapeutics from $29.00 to $28.00 and set an “overweight” rating for the company in a research note on Friday, October 11th. HC Wainwright restated a “buy” rating and issued a $90.00 price target on shares of Denali Therapeutics in a research note on Thursday, November 7th. Finally, Cantor Fitzgerald downgraded Denali Therapeutics from an “overweight” rating to a “neutral” rating in a research note on Monday, October 7th. Two equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $40.40.
Read Our Latest Stock Analysis on DNLI
Denali Therapeutics Price Performance
The company has a market capitalization of $3.45 billion, a price-to-earnings ratio of -8.49 and a beta of 1.35. The stock has a 50-day moving average price of $26.28 and a 200-day moving average price of $24.85.
Denali Therapeutics (NASDAQ:DNLI – Get Free Report) last released 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 last year, the business earned ($0.72) earnings per share. Equities analysts forecast that Denali Therapeutics Inc. will post -2.71 earnings per share for the current year.
Insider Buying and Selling
In other Denali Therapeutics news, CEO Ryan J. Watts sold 40,000 shares of the firm’s stock in a transaction on Friday, October 18th. The stock was sold at an average price of $27.69, for a total transaction of $1,107,600.00. Following the transaction, the chief executive officer now owns 235,807 shares in the company, valued at $6,529,495.83. This trade represents a 14.50 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Vicki L. Sato sold 1,020 shares of the firm’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $30.00, for a total value of $30,600.00. Following the transaction, the director now owns 111,056 shares in the company, valued at approximately $3,331,680. This trade represents a 0.91 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 86,578 shares of company stock valued at $2,474,440. Insiders own 7.90% of the company’s stock.
Hedge Funds Weigh In On Denali Therapeutics
Hedge funds and other institutional investors have recently modified their holdings of the business. CWM LLC increased its stake in shares of Denali Therapeutics by 43.6% in the 3rd quarter. CWM LLC now owns 2,153 shares of the company’s stock valued at $63,000 after purchasing an additional 654 shares during the last quarter. Quest Partners LLC bought a new position in shares of Denali Therapeutics in the 3rd quarter valued at $73,000. Assetmark Inc. increased its stake 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 last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Denali Therapeutics by 21.6% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,178 shares of the company’s stock valued at $152,000 after purchasing an additional 920 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Denali Therapeutics in the 2nd quarter valued at $194,000. 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.
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