Denali Therapeutics (NASDAQ:DNLI) Trading 9.8% Higher – Time to Buy?

Shares of Denali Therapeutics Inc. (NASDAQ:DNLI) shot up 9.8% during mid-day trading on Wednesday . The company traded as high as $20.58 and last traded at $20.58. 93,724 shares changed hands 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 Ratings Changes

A number of research firms have recently weighed in on DNLI. Stifel Nicolaus raised 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. HC Wainwright dropped their price objective on shares of Denali Therapeutics from $90.00 to $87.00 and set a “buy” rating for the company in a report on Tuesday, January 7th. William Blair restated an “outperform” rating on shares of Denali Therapeutics in a report on Wednesday. Jefferies Financial Group boosted their target price on Denali Therapeutics from $40.00 to $45.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Denali Therapeutics from $28.00 to $24.00 and set an “overweight” rating for the company in a research note on Tuesday, January 7th. Two investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $38.91.

Denali Therapeutics Trading Up 10.2 %

The stock has a market capitalization of $2.97 billion, a PE ratio of -7.48 and a beta of 1.39. The company’s 50-day moving average is $23.64 and its 200 day moving average is $24.79.

Denali Therapeutics (NASDAQ:DNLI) last released its quarterly earnings results on Wednesday, November 6th. The company reported ($0.63) EPS for the quarter, missing the consensus estimate of ($0.60) by ($0.03). During the same quarter in the prior year, the business posted ($0.72) EPS. Sell-side analysts forecast that Denali Therapeutics Inc. will post -2.71 EPS for the current fiscal year.

Insider Buying and Selling at Denali Therapeutics

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 transaction of $247,796.10. Following the transaction, the insider now directly owns 178,580 shares of the company’s stock, valued at $3,610,887.60. The trade was a 6.42 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Vicki L. Sato sold 1,020 shares of the company’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $30.00, for a total value of $30,600.00. Following the completion of the transaction, the director now owns 111,056 shares in the company, 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 three months, insiders have sold 104,518 shares of company stock valued at $2,576,982. Company insiders own 7.90% of the company’s stock.

Hedge Funds Weigh In On Denali Therapeutics

A number of hedge funds have recently made changes to their positions in the stock. CWM LLC increased its position in shares of Denali Therapeutics by 43.6% during the third quarter. CWM LLC now owns 2,153 shares of the company’s stock worth $63,000 after acquiring an additional 654 shares during the period. Quest Partners LLC acquired a new stake in shares of Denali Therapeutics in the 3rd quarter valued at $73,000. Assetmark Inc. lifted its position in shares of Denali Therapeutics by 18.0% during the 3rd quarter. Assetmark Inc. now owns 3,808 shares of the company’s stock worth $111,000 after purchasing an additional 580 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in Denali Therapeutics by 21.6% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,178 shares of the company’s stock worth $152,000 after purchasing an additional 920 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Denali Therapeutics in the 2nd quarter valued at $194,000. 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.