Denali Therapeutics (NASDAQ:DNLI) Shares Up 6.4% – Here’s What Happened

Denali Therapeutics Inc. (NASDAQ:DNLI) shares rose 6.4% on Friday . The company traded as high as $27.39 and last traded at $27.38. Approximately 242,702 shares were traded during trading, a decline of 78% from the average daily volume of 1,106,818 shares. The stock had previously closed at $25.74.

Wall Street Analyst Weigh In

DNLI has been the subject of a number of analyst reports. Raymond James reissued a “market perform” rating on shares of Denali Therapeutics in a research report on Thursday. HC Wainwright reaffirmed a “buy” rating and issued a $90.00 price objective on shares of Denali Therapeutics in a research report on Wednesday, September 4th. Wedbush reduced their target price on Denali Therapeutics from $30.00 to $26.00 and set an “outperform” rating for the company in a research note on Friday, August 2nd. Citigroup increased their price target on Denali Therapeutics from $26.00 to $32.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Finally, Bank of America lifted their price objective on shares of Denali Therapeutics from $25.00 to $29.00 and gave the stock a “buy” rating in a research report on Wednesday, September 4th. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $38.22.

Denali Therapeutics Trading Up 8.8 %

The firm has a market cap of $3.99 billion, a price-to-earnings ratio of -29.17 and a beta of 1.38. The firm’s 50 day simple moving average is $26.24 and its two-hundred day simple moving average is $22.32.

Denali Therapeutics (NASDAQ:DNLI) last released its quarterly earnings results on Thursday, August 1st. The company reported ($0.59) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.68) by $0.09. The business had revenue of $1.00 million during the quarter, compared to analyst estimates of $10.00 million. During the same quarter in the previous year, the firm posted $1.30 earnings per share. The firm’s quarterly revenue was down 99.7% on a year-over-year basis. As a group, equities research analysts anticipate that Denali Therapeutics Inc. will post -2.54 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Denali Therapeutics news, Director Steve E. Krognes sold 30,000 shares of the stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $29.03, for a total transaction of $870,900.00. Following the sale, the director now directly owns 29,096 shares in the company, valued at $844,656.88. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 7.90% of the stock is owned by company insiders.

Hedge Funds Weigh In On Denali Therapeutics

A number of institutional investors have recently modified their holdings of DNLI. Creative Planning grew its position in Denali Therapeutics by 40.0% in the third quarter. Creative Planning now owns 60,254 shares of the company’s stock valued at $1,755,000 after acquiring an additional 17,221 shares during the last quarter. CWM LLC grew its holdings in shares of Denali Therapeutics by 43.6% during the 3rd quarter. CWM LLC now owns 2,153 shares of the company’s stock valued at $63,000 after purchasing an additional 654 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in Denali Therapeutics during the 2nd quarter worth approximately $194,000. Dana Investment Advisors Inc. lifted its stake in Denali Therapeutics by 19.2% in the 2nd quarter. Dana Investment Advisors Inc. now owns 34,269 shares of the company’s stock valued at $796,000 after purchasing an additional 5,513 shares during the last quarter. Finally, Susquehanna Fundamental Investments LLC boosted its position in Denali Therapeutics by 5.6% in the second quarter. Susquehanna Fundamental Investments LLC now owns 222,917 shares of the company’s stock valued at $5,176,000 after buying an additional 11,900 shares in the last quarter. Institutional investors and hedge funds own 92.92% of the company’s stock.

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.