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

Denali Therapeutics Inc. (NASDAQ:DNLI)’s share price reached a new 52-week low during trading 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 changing hands. The stock had previously closed at $15.20.

Other analysts have also recently issued research reports about the company. Robert W. Baird initiated coverage on Denali Therapeutics in a research report on Tuesday, January 7th. They set an “outperform” rating and a $31.00 price objective for the company. The Goldman Sachs Group cut their price target on Denali Therapeutics from $45.00 to $40.00 and set a “buy” rating for the company in a report on Tuesday, January 28th. JPMorgan Chase & Co. cut their price target on Denali Therapeutics from $28.00 to $24.00 and set an “overweight” rating for the company in a report on Tuesday, January 7th. Baird R W raised Denali Therapeutics to a “strong-buy” rating in a report on Tuesday, January 7th. Finally, 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. Two research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong 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 $37.77.

Insider Activity at Denali Therapeutics

In related news, Director Vicki L. Sato sold 3,080 shares of the stock in a transaction that occurred on Thursday, January 2nd. The stock was 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 directly owns 107,976 shares of the company’s stock, valued at approximately $2,257,778.16. This represents a 2.77 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Steve E. Krognes sold 3,339 shares of the stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $20.81, for a total value of $69,484.59. Following the transaction, the director now directly owns 25,757 shares of the company’s stock, valued at approximately $536,003.17. The trade was a 11.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 47,940 shares of company stock valued at $973,442. Insiders own 7.90% of the company’s stock.

Hedge Funds Weigh In On Denali Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Sterling Capital Management LLC boosted its stake in Denali Therapeutics by 589.9% during the fourth quarter. Sterling Capital Management LLC now owns 1,773 shares of the company’s stock valued at $36,000 after buying an additional 1,516 shares during the last quarter. Quest Partners LLC purchased a new stake in Denali Therapeutics during the third quarter valued at approximately $73,000. GF Fund Management CO. LTD. purchased a new stake in Denali Therapeutics during the fourth quarter valued at approximately $62,000. Point72 Hong Kong Ltd purchased a new stake in Denali Therapeutics during the fourth quarter valued at approximately $65,000. Finally, PNC Financial Services Group Inc. raised its position in Denali Therapeutics by 30.5% during the fourth quarter. PNC Financial Services Group Inc. now owns 3,790 shares of the company’s stock valued at $77,000 after purchasing an additional 885 shares during the period. 92.92% of the stock is owned by institutional investors.

Denali Therapeutics Price Performance

The business has a 50-day simple moving average of $21.17 and a 200-day simple moving average of $24.51. The firm has a market capitalization of $2.30 billion, a PE ratio of -5.78 and a beta of 1.43.

Denali Therapeutics (NASDAQ:DNLI) last issued its quarterly earnings data on Thursday, February 27th. The company reported ($0.67) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.75) by $0.08. On average, research analysts expect that Denali Therapeutics Inc. will post -2.71 earnings per share 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.