Denali Therapeutics (NASDAQ:DNLI) Stock Price Up 3.1% – Time to Buy?

Denali Therapeutics Inc. (NASDAQ:DNLI) shares rose 3.1% during mid-day trading on Wednesday . The company traded as high as $21.83 and last traded at $21.83. Approximately 95,664 shares changed hands during mid-day trading, a decline of 90% from the average daily volume of 943,706 shares. The stock had previously closed at $21.18.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Robert W. Baird began coverage on shares of Denali Therapeutics in a research report on Tuesday. They set an “outperform” rating and a $31.00 price target for the company. Cantor Fitzgerald cut shares of Denali Therapeutics from an “overweight” rating to a “neutral” rating in a research note on Monday, October 7th. Raymond James restated a “market perform” rating on shares of Denali Therapeutics in a research report on Thursday, October 10th. HC Wainwright lowered their price target on shares of Denali Therapeutics from $90.00 to $87.00 and set a “buy” rating on the stock in a research report on Tuesday. Finally, Baird R W upgraded Denali Therapeutics to a “strong-buy” rating in a research report on Tuesday. Two equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $38.91.

Denali Therapeutics Price Performance

The stock has a market cap of $2.75 billion, a price-to-earnings ratio of -6.92 and a beta of 1.39. The firm’s 50-day moving average is $24.13 and its 200 day moving average is $24.83.

Denali Therapeutics (NASDAQ:DNLI) last posted its quarterly earnings results on Wednesday, November 6th. The company reported ($0.63) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.60) by ($0.03). During the same quarter in the previous year, the firm earned ($0.72) earnings per share. On average, sell-side analysts forecast that Denali Therapeutics Inc. will post -2.71 EPS for the current year.

Insider Transactions at Denali Therapeutics

In other news, Director Vicki L. Sato sold 1,020 shares of the firm’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 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 approximately $3,331,680. This trade represents a 0.91 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Ryan J. Watts sold 40,000 shares of the company’s stock in a transaction on Friday, October 18th. The shares were sold at an average price of $27.69, for a total transaction of $1,107,600.00. Following the completion of the sale, the chief executive officer now directly owns 235,807 shares in the company, valued at $6,529,495.83. This represents a 14.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 104,518 shares of company stock valued at $2,576,982 over the last quarter. Company insiders own 7.90% of the company’s stock.

Institutional Investors Weigh In On Denali Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the stock. Rhumbline Advisers boosted its holdings in shares of Denali Therapeutics by 13.3% in the 2nd quarter. Rhumbline Advisers now owns 194,859 shares of the company’s stock valued at $4,525,000 after buying an additional 22,900 shares during the period. TD Asset Management Inc boosted its stake in Denali Therapeutics by 4.5% in the second quarter. TD Asset Management Inc now owns 179,152 shares of the company’s stock valued at $4,160,000 after acquiring an additional 7,766 shares during the period. Arizona State Retirement System grew its holdings in shares of Denali Therapeutics by 9.0% during the second quarter. Arizona State Retirement System now owns 33,114 shares of the company’s stock valued at $769,000 after purchasing an additional 2,730 shares during the last quarter. American Century Companies Inc. raised its position in shares of Denali Therapeutics by 13.7% during the 2nd quarter. American Century Companies Inc. now owns 522,594 shares of the company’s stock worth $12,135,000 after purchasing an additional 63,058 shares during the period. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Denali Therapeutics by 6.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,417,472 shares of the company’s stock worth $32,913,000 after purchasing an additional 84,522 shares during the last quarter. 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.