Denali Therapeutics (NASDAQ:DNLI) Sees Large Volume Increase

Denali Therapeutics Inc. (NASDAQ:DNLI) saw unusually-high trading volume on Monday . Approximately 2,575,857 shares were traded during mid-day trading, an increase of 116% from the previous session’s volume of 1,189,921 shares.The stock last traded at $23.13 and had previously closed at $21.46.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on DNLI. HC Wainwright reaffirmed a “buy” rating and set a $95.00 target price on shares of Denali Therapeutics in a research note on Wednesday, May 8th. JPMorgan Chase & Co. upped their price objective on shares of Denali Therapeutics from $28.00 to $29.00 and gave the company an “overweight” rating in a research note on Wednesday, July 10th. Wedbush decreased their target price on shares of Denali Therapeutics from $31.00 to $30.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 8th. UBS Group lowered their target price on Denali Therapeutics from $70.00 to $32.00 and set a “buy” rating on the stock in a report on Tuesday, April 9th. Finally, Stifel Nicolaus cut their price target on Denali Therapeutics from $26.00 to $22.00 and set a “hold” rating for the company in a report on Wednesday, May 8th. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $40.33.

Denali Therapeutics Price Performance

The company has a market capitalization of $3.36 billion, a PE ratio of -24.51 and a beta of 1.40. The stock’s 50 day simple moving average is $21.17 and its 200-day simple moving average is $19.33.

Denali Therapeutics (NASDAQ:DNLI) last announced its earnings results on Tuesday, May 7th. The company reported ($0.68) earnings per share for the quarter, topping the consensus estimate of ($0.69) by $0.01. During the same quarter in the previous year, the company earned ($0.80) EPS. On average, equities analysts predict that Denali Therapeutics Inc. will post -2.77 earnings per share for the current year.

Insider Activity

In other Denali Therapeutics news, Director Steve E. Krognes sold 30,000 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $22.12, for a total transaction of $663,600.00. Following the completion of the transaction, the director now owns 34,404 shares in the company, valued at approximately $761,016.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Denali Therapeutics news, Director Steve E. Krognes sold 30,000 shares of Denali Therapeutics stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $22.12, for a total transaction of $663,600.00. Following the completion of the sale, the director now directly owns 34,404 shares of the company’s stock, valued at approximately $761,016.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jennifer E. Cook sold 1,458 shares of the stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $21.73, for a total value of $31,682.34. Following the completion of the transaction, the director now owns 20,038 shares in the company, valued at approximately $435,425.74. The disclosure for this sale can be found here. In the last quarter, insiders sold 32,146 shares of company stock worth $710,274. 7.90% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Denali Therapeutics

Several hedge funds have recently made changes to their positions in DNLI. Vanguard Group Inc. boosted its holdings in shares of Denali Therapeutics by 3.5% in the third quarter. Vanguard Group Inc. now owns 10,597,781 shares of the company’s stock valued at $218,632,000 after acquiring an additional 354,798 shares during the period. China Universal Asset Management Co. Ltd. boosted its stake in Denali Therapeutics by 353.2% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 15,981 shares of the company’s stock worth $343,000 after purchasing an additional 12,455 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its position in Denali Therapeutics by 5.6% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 73,585 shares of the company’s stock worth $1,579,000 after purchasing an additional 3,911 shares during the last quarter. Nisa Investment Advisors LLC increased its stake in Denali Therapeutics by 267.8% in the fourth quarter. Nisa Investment Advisors LLC now owns 66,059 shares of the company’s stock valued at $1,418,000 after purchasing an additional 48,099 shares during the period. Finally, VELA Investment Management LLC raised its holdings in shares of Denali Therapeutics by 31.4% in the fourth quarter. VELA Investment Management LLC now owns 26,145 shares of the company’s stock valued at $561,000 after buying an additional 6,246 shares during the last quarter. Hedge funds and other institutional investors own 92.92% of the company’s stock.

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.