Denali Therapeutics (NASDAQ:DNLI) Hits New 1-Year Low – What’s Next?

Denali Therapeutics Inc. (NASDAQ:DNLI) shares hit a new 52-week low during mid-day trading on Monday . The stock traded as low as $10.57 and last traded at $10.61, with a volume of 98023 shares trading hands. The stock had previously closed at $11.78.

Analysts Set New Price Targets

Several research analysts have weighed in on DNLI shares. Oppenheimer dropped their price target on Denali Therapeutics from $50.00 to $42.00 and set an “outperform” rating for the company in a research note on Monday, March 3rd. Baird R W raised shares of Denali Therapeutics to a “strong-buy” rating in a report on Tuesday, January 7th. Deutsche Bank Aktiengesellschaft began coverage on Denali Therapeutics in a report on Tuesday, February 11th. They set a “buy” rating and a $31.00 price target for the company. Stifel Nicolaus raised shares of Denali Therapeutics from a “hold” rating to a “buy” rating and set a $37.00 price objective for the company in a research note on Monday, December 16th. Finally, Bank of America decreased their target price on shares of Denali Therapeutics from $30.00 to $28.00 and set a “buy” rating on the stock in a research report on Monday, March 10th. Two research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $37.20.

Denali Therapeutics Price Performance

The firm has a market cap of $1.63 billion, a price-to-earnings ratio of -4.10 and a beta of 1.58. The firm has a fifty day simple moving average of $18.06 and a two-hundred day simple moving average of $22.60.

Denali Therapeutics (NASDAQ:DNLI) last posted its quarterly earnings data on Thursday, February 27th. The company reported ($0.67) EPS for the quarter, topping the consensus estimate of ($0.75) by $0.08. Equities analysts anticipate that Denali Therapeutics Inc. will post -2.71 earnings per share for the current fiscal year.

Insider Activity

In other Denali Therapeutics news, Director Steve E. Krognes sold 3,339 shares of the firm’s stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $20.81, for a total value of $69,484.59. Following the transaction, the director now owns 25,757 shares in the company, valued at approximately $536,003.17. This trade represents a 11.48 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 7.90% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in Denali Therapeutics by 7.6% in the 4th quarter. Vanguard Group Inc. now owns 12,021,230 shares of the company’s stock valued at $244,993,000 after purchasing an additional 843,996 shares during the last quarter. Wellington Management Group LLP raised its holdings in Denali Therapeutics by 9.2% in the 3rd quarter. Wellington Management Group LLP now owns 10,727,450 shares of the company’s stock valued at $312,491,000 after buying an additional 903,683 shares during the period. FMR LLC boosted its stake in Denali Therapeutics by 2.4% during the fourth quarter. FMR LLC now owns 8,019,746 shares of the company’s stock worth $163,442,000 after buying an additional 188,368 shares during the period. Alliancebernstein L.P. increased its position in shares of Denali Therapeutics by 8.8% during the fourth quarter. Alliancebernstein L.P. now owns 3,315,642 shares of the company’s stock valued at $67,573,000 after acquiring an additional 268,378 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its holdings in shares of Denali Therapeutics by 6.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,058,615 shares of the company’s stock worth $62,335,000 after acquiring an additional 188,820 shares during the last quarter. 92.92% of the stock is currently owned by institutional investors and hedge funds.

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.