Denali Therapeutics (NASDAQ:DNLI) Shares Gap Up – Time to Buy?

Denali Therapeutics Inc. (NASDAQ:DNLI)’s share price gapped up before the market opened on Tuesday . The stock had previously closed at $20.88, but opened at $21.48. Denali Therapeutics shares last traded at $21.30, with a volume of 61,176 shares changing hands.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on DNLI. HC Wainwright cut their price objective on shares of Denali Therapeutics from $90.00 to $87.00 and set a “buy” rating on the stock in a research report on Tuesday, January 7th. Baird R W upgraded shares of Denali Therapeutics to a “strong-buy” rating in a report on Tuesday, January 7th. Robert W. Baird began coverage on shares of Denali Therapeutics in a report on Tuesday, January 7th. They issued an “outperform” rating and a $31.00 price objective for the company. Deutsche Bank Aktiengesellschaft began coverage on Denali Therapeutics in a report on Tuesday. They set a “buy” rating and a $31.00 target price on the stock. Finally, Jefferies Financial Group upped their price target on Denali Therapeutics from $40.00 to $45.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Two investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $37.42.

Denali Therapeutics Trading Up 0.0 %

The company has a 50 day moving average of $22.10 and a 200 day moving average of $24.82. The firm has a market cap of $3.01 billion, a price-to-earnings ratio of -7.56 and a beta of 1.43.

Insiders Place Their Bets

In other Denali Therapeutics news, Director Vicki L. Sato sold 3,080 shares of the stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $20.91, for a total transaction of $64,402.80. Following the sale, the director now owns 107,976 shares of the company’s stock, valued at $2,257,778.16. This represents a 2.77 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Ryan J. Watts sold 29,266 shares of the business’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $20.22, for a total transaction of $591,758.52. Following the completion of the transaction, the chief executive officer now directly owns 260,721 shares of the company’s stock, valued at approximately $5,271,778.62. This represents a 10.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 47,940 shares of company stock valued at $973,442. 7.90% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Denali Therapeutics

Hedge funds have recently added to or reduced their stakes in the company. Victory Capital Management Inc. grew its position in shares of Denali Therapeutics by 163.7% during the 3rd quarter. Victory Capital Management Inc. now owns 39,900 shares of the company’s stock worth $1,162,000 after buying an additional 24,767 shares during the period. FMR LLC grew its stake 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 worth $228,128,000 after purchasing an additional 7,596,508 shares during the period. Algert Global LLC increased its holdings in Denali Therapeutics by 82.4% in the third quarter. Algert Global LLC now owns 48,630 shares of the company’s stock valued at $1,417,000 after purchasing an additional 21,975 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in Denali Therapeutics by 6.5% during the third quarter. JPMorgan Chase & Co. now owns 235,386 shares of the company’s stock worth $6,857,000 after buying an additional 14,324 shares during the last quarter. Finally, Principal Financial Group Inc. grew its position in shares of Denali Therapeutics by 13.8% during the 3rd quarter. Principal Financial Group Inc. now owns 1,238,476 shares of the company’s stock worth $36,076,000 after buying an additional 149,939 shares during the period. 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.