Denali Therapeutics (NASDAQ:DNLI) Trading 9.8% Higher – What’s Next?

Denali Therapeutics Inc. (NASDAQ:DNLI)’s stock price shot up 9.8% during trading on Wednesday . The stock traded as high as $20.58 and last traded at $20.58. 93,724 shares were traded during mid-day trading, a decline of 91% from the average session volume of 1,002,677 shares. The stock had previously closed at $18.74.

Analyst Upgrades and Downgrades

Several research firms have recently commented on DNLI. William Blair reaffirmed an “outperform” rating on shares of Denali Therapeutics in a research report on Wednesday. Stifel Nicolaus raised shares of Denali Therapeutics from a “hold” rating to a “buy” rating and set a $37.00 target price for the company in a research report on Monday, December 16th. HC Wainwright dropped their target price on shares of Denali Therapeutics from $90.00 to $87.00 and set a “buy” rating for the company in a research report on Tuesday, January 7th. Jefferies Financial Group raised their target price on shares of Denali Therapeutics from $40.00 to $45.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Finally, Baird R W raised shares of Denali Therapeutics to a “strong-buy” rating in a research report on Tuesday, January 7th. Two research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Denali Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus price target of $38.91.

Denali Therapeutics Stock Performance

The business’s 50-day moving average is $23.32 and its 200-day moving average is $24.74.

Denali Therapeutics (NASDAQ:DNLI) last issued its earnings results on Wednesday, November 6th. The company reported ($0.63) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.60) by ($0.03). During the same period last year, the firm earned ($0.72) EPS. As a group, equities analysts anticipate that Denali Therapeutics Inc. will post -2.73 earnings per share for the current year.

Insiders Place Their Bets

In other Denali Therapeutics news, insider Carole Ho sold 12,255 shares of Denali Therapeutics stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $20.22, for a total value of $247,796.10. Following the completion of the transaction, the insider now directly owns 178,580 shares of the company’s stock, valued at approximately $3,610,887.60. The trade was a 6.42 % 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 Vicki L. Sato sold 1,020 shares of Denali Therapeutics stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $30.00, for a total transaction of $30,600.00. Following the completion of the sale, the director now owns 111,056 shares of the company’s stock, valued at $3,331,680. This represents a 0.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 64,518 shares of company stock valued at $1,469,382. Insiders own 7.90% of the company’s stock.

Hedge Funds Weigh In On Denali Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of the company. Wellington Management Group LLP lifted its holdings in Denali Therapeutics by 9.2% in the third quarter. Wellington Management Group LLP now owns 10,727,450 shares of the company’s stock valued at $312,491,000 after acquiring an additional 903,683 shares during the period. FMR LLC lifted its stake in shares of Denali Therapeutics by 3,234.3% in the 3rd 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. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Denali Therapeutics by 63.2% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,749,486 shares of the company’s stock worth $109,223,000 after buying an additional 1,451,770 shares during the last quarter. Marshall Wace LLP grew its position in Denali Therapeutics by 12.7% during the second quarter. Marshall Wace LLP now owns 2,418,833 shares of the company’s stock valued at $56,165,000 after buying an additional 272,454 shares during the period. Finally, Dimensional Fund Advisors LP increased its holdings in Denali Therapeutics by 6.3% during the second quarter. Dimensional Fund Advisors LP now owns 1,417,472 shares of the company’s stock valued at $32,913,000 after buying an additional 84,522 shares during the last quarter. 92.92% of the stock is currently owned by hedge funds and other institutional investors.

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.