Denali Therapeutics (NASDAQ:DNLI) Shares Gap Up – Still a Buy?

Denali Therapeutics Inc. (NASDAQ:DNLI)’s share price gapped up prior to trading on Tuesday . The stock had previously closed at $20.88, but opened at $21.48. Denali Therapeutics shares last traded at $21.30, with a volume of 61,176 shares traded.

Analyst Upgrades and Downgrades

DNLI has been the topic of several recent research reports. Stifel Nicolaus upgraded shares of Denali Therapeutics from a “hold” rating to a “buy” rating and set a $37.00 target price on the stock in a report on Monday, December 16th. The Goldman Sachs Group reduced their price objective on Denali Therapeutics from $45.00 to $40.00 and set a “buy” rating on the stock in a research note on Tuesday, January 28th. Deutsche Bank Aktiengesellschaft initiated coverage on Denali Therapeutics in a research note on Tuesday. They issued a “buy” rating and a $31.00 target price for the company. Baird R W raised shares of Denali Therapeutics to a “strong-buy” rating in a research note on Tuesday, January 7th. Finally, JPMorgan Chase & Co. cut their price target on Denali Therapeutics from $28.00 to $24.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 7th. Two analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Denali Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus target price of $37.42.

Denali Therapeutics Stock Performance

The company has a 50 day moving average of $21.98 and a 200-day moving average of $24.76.

Insider Transactions at Denali Therapeutics

In other news, Director Vicki L. Sato sold 3,080 shares of the stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $20.91, for a total transaction of $64,402.80. Following the sale, the director now directly owns 107,976 shares in the company, valued at approximately $2,257,778.16. This represents a 2.77 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Steve E. Krognes sold 3,339 shares of the business’s stock in a transaction that occurred on Tuesday, January 7th. The shares were 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 of the company’s stock, valued at $536,003.17. This represents a 11.48 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 47,940 shares of company stock worth $973,442. 7.90% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Denali Therapeutics

Several large investors have recently added to or reduced their stakes in DNLI. CWM LLC lifted its position in Denali Therapeutics by 43.6% in 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. Quest Partners LLC acquired a new stake in shares of Denali Therapeutics in the third quarter valued at approximately $73,000. PNC Financial Services Group Inc. raised its holdings in shares of Denali Therapeutics by 30.5% during the fourth quarter. PNC Financial Services Group Inc. now owns 3,790 shares of the company’s stock valued at $77,000 after buying an additional 885 shares during the last quarter. Assetmark Inc. boosted its position in shares of Denali Therapeutics by 18.0% during the third quarter. Assetmark Inc. now owns 3,808 shares of the company’s stock worth $111,000 after buying an additional 580 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. grew its holdings in Denali Therapeutics by 21.6% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,178 shares of the company’s stock worth $152,000 after buying an additional 920 shares in the last quarter. 92.92% of the stock is 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.