Denali Therapeutics (NASDAQ:DNLI) Stock Price Up 9.8% – Should You Buy?

Denali Therapeutics Inc. (NASDAQ:DNLI)’s stock price shot up 9.8% on Wednesday . The company traded as high as $20.58 and last traded at $20.58. 93,724 shares traded hands during trading, a decline of 91% from the average session volume of 1,002,677 shares. The stock had previously closed at $18.74.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on DNLI. Jefferies Financial Group increased their price objective on shares of Denali Therapeutics from $40.00 to $45.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Robert W. Baird began coverage on shares of Denali Therapeutics in a research report on Tuesday, January 7th. They issued an “outperform” rating and a $31.00 price objective for the company. JPMorgan Chase & Co. decreased their target price on shares of Denali Therapeutics from $28.00 to $24.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 7th. William Blair reissued an “outperform” rating on shares of Denali Therapeutics in a research note on Wednesday. Finally, Stifel Nicolaus upgraded Denali Therapeutics from a “hold” rating to a “buy” rating and set a $37.00 target price for the company in a research note on Monday, December 16th. Two equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $38.91.

Denali Therapeutics Trading Up 10.2 %

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

Denali Therapeutics (NASDAQ:DNLI) last announced its quarterly earnings results on Wednesday, November 6th. The company reported ($0.63) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.60) by ($0.03). During the same period last year, the business posted ($0.72) earnings per share. On average, sell-side analysts expect 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, CEO Ryan J. Watts sold 40,000 shares of the company’s stock in a transaction dated Friday, October 18th. The stock was sold at an average price of $27.69, for a total value of $1,107,600.00. Following the transaction, the chief executive officer now directly owns 235,807 shares of the company’s stock, valued at $6,529,495.83. This represents a 14.50 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 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 completion of the sale, the director now directly owns 25,757 shares of the company’s stock, valued at approximately $536,003.17. The trade was a 11.48 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 104,518 shares of company stock valued at $2,576,982. 7.90% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Denali Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of DNLI. MONECO Advisors LLC lifted its position in shares of Denali Therapeutics by 4.6% in the third quarter. MONECO Advisors LLC now owns 9,100 shares of the company’s stock worth $265,000 after buying an additional 400 shares during the last quarter. Assetmark Inc. lifted its stake in shares of Denali Therapeutics by 18.0% in 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 last quarter. CWM LLC boosted 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 worth $63,000 after buying an additional 654 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its stake 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 valued at $152,000 after buying an additional 920 shares during the last quarter. Finally, Quest Partners LLC acquired a new position in Denali Therapeutics in the 3rd quarter valued at $73,000. Institutional investors and hedge funds 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.