Denali Therapeutics (NASDAQ:DNLI) Shares Down 3.8% Following Analyst Downgrade

Shares of Denali Therapeutics Inc. (NASDAQ:DNLI) were down 3.8% during trading on Monday after JPMorgan Chase & Co. lowered their price target on the stock from $29.00 to $28.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. Denali Therapeutics traded as low as $26.95 and last traded at $26.95. Approximately 322,630 shares traded hands during mid-day trading, a decline of 71% from the average daily volume of 1,106,093 shares. The stock had previously closed at $28.00.

DNLI has been the subject of a number of other reports. Citigroup raised 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. Bank of America raised their price objective on shares of Denali Therapeutics from $25.00 to $29.00 and gave the company a “buy” rating in a research report on Wednesday, September 4th. HC Wainwright reaffirmed a “buy” rating and issued a $90.00 target price on shares of Denali Therapeutics in a research note on Wednesday, September 4th. Cantor Fitzgerald downgraded shares of Denali Therapeutics from an “overweight” rating to a “neutral” rating in a research note on Monday, October 7th. Finally, Wedbush lowered their target price on shares of Denali Therapeutics from $30.00 to $26.00 and set an “outperform” rating on the stock in a research note on Friday, August 2nd. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $38.22.

Insiders Place Their Bets

In other Denali Therapeutics news, Director Steve E. Krognes sold 30,000 shares of Denali Therapeutics stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $29.03, for a total transaction of $870,900.00. Following the transaction, the director now directly owns 29,096 shares of the company’s stock, valued at approximately $844,656.88. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 7.90% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Virtu Financial LLC bought a new position in shares of Denali Therapeutics in the fourth quarter worth approximately $334,000. Fisher Asset Management LLC bought a new position in shares of Denali Therapeutics in the fourth quarter worth approximately $59,000. Vanguard Group Inc. grew its holdings in shares of Denali Therapeutics by 2.2% in the fourth quarter. Vanguard Group Inc. now owns 10,834,483 shares of the company’s stock worth $232,508,000 after purchasing an additional 236,702 shares during the last quarter. PNC Financial Services Group Inc. grew its holdings in shares of Denali Therapeutics by 48.1% in the fourth quarter. PNC Financial Services Group Inc. now owns 2,486 shares of the company’s stock worth $53,000 after purchasing an additional 807 shares during the last quarter. Finally, Los Angeles Capital Management LLC grew its holdings in shares of Denali Therapeutics by 19.4% in the first quarter. Los Angeles Capital Management LLC now owns 55,612 shares of the company’s stock worth $1,141,000 after purchasing an additional 9,054 shares during the last quarter. 92.92% of the stock is owned by hedge funds and other institutional investors.

Denali Therapeutics Stock Down 4.2 %

The stock has a market cap of $3.83 billion, a P/E ratio of -27.95 and a beta of 1.38. The firm’s fifty day moving average price is $26.35 and its 200-day moving average price is $22.37.

Denali Therapeutics (NASDAQ:DNLI) last released its quarterly earnings results on Thursday, August 1st. The company reported ($0.59) earnings per share for the quarter, beating the consensus estimate of ($0.68) by $0.09. The company had revenue of $1.00 million during the quarter, compared to the consensus estimate of $10.00 million. The business’s revenue was down 99.7% on a year-over-year basis. During the same quarter last year, the firm earned $1.30 EPS. Sell-side analysts predict that Denali Therapeutics Inc. will post -2.54 earnings per share for the current year.

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.