Denali Therapeutics (NASDAQ:DNLI) Reaches New 12-Month Low – Time to Sell?

Shares of Denali Therapeutics Inc. (NASDAQ:DNLI) hit a new 52-week low during trading on Wednesday . The stock traded as low as $13.92 and last traded at $13.92, with a volume of 57467 shares changing hands. The stock had previously closed at $14.12.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on DNLI shares. Baird R W upgraded shares of Denali Therapeutics to a “strong-buy” rating in a report on Tuesday, January 7th. Robert W. Baird began coverage on Denali Therapeutics in a research note on Tuesday, January 7th. They set an “outperform” rating and a $31.00 target price on the stock. Oppenheimer lowered their price target on Denali Therapeutics from $50.00 to $42.00 and set an “outperform” rating for the company in a research report on Monday, March 3rd. Bank of America dropped their price objective on shares of Denali Therapeutics from $30.00 to $28.00 and set a “buy” rating on the stock in a report on Monday, March 10th. Finally, Stifel Nicolaus upgraded shares of Denali Therapeutics from a “hold” rating to a “buy” rating and set a $37.00 target price for the company in a research report on Monday, December 16th. Two research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $37.20.

Denali Therapeutics Stock Performance

The stock has a 50 day moving average of $19.19 and a two-hundred day moving average of $23.33. The stock has a market cap of $2.06 billion, a PE ratio of -5.14 and a beta of 1.46.

Denali Therapeutics (NASDAQ:DNLI) last released its quarterly earnings data on Thursday, February 27th. The company reported ($0.67) earnings per share for the quarter, beating the consensus estimate of ($0.75) by $0.08. Analysts expect that Denali Therapeutics Inc. will post -2.71 EPS for the current fiscal year.

Insider Activity at Denali Therapeutics

In other news, insider Carole Ho sold 12,255 shares of the stock in a transaction on Monday, January 6th. The stock was sold at an average price of $20.22, for a total transaction of $247,796.10. Following the sale, the insider now owns 178,580 shares in the company, valued at approximately $3,610,887.60. This represents 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 this link. Also, Director Steve E. Krognes sold 3,339 shares of the business’s stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $20.81, for a total transaction of $69,484.59. Following the completion of the transaction, the director now directly owns 25,757 shares of the company’s stock, valued at approximately $536,003.17. This represents a 11.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 47,940 shares of company stock valued at $973,442 over the last quarter. 7.90% of the stock is owned by company insiders.

Institutional Trading of Denali Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Rhumbline Advisers boosted its holdings in Denali Therapeutics by 0.3% during the fourth quarter. Rhumbline Advisers now owns 190,390 shares of the company’s stock worth $3,880,000 after buying an additional 497 shares during the last quarter. PNC Financial Services Group Inc. boosted its position in 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 purchasing an additional 885 shares during the last quarter. Sterling Capital Management LLC increased its holdings in Denali Therapeutics by 589.9% during the fourth quarter. Sterling Capital Management LLC now owns 1,773 shares of the company’s stock worth $36,000 after buying an additional 1,516 shares during the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of Denali Therapeutics by 0.8% in the fourth quarter. The Manufacturers Life Insurance Company now owns 208,521 shares of the company’s stock valued at $4,250,000 after buying an additional 1,702 shares during the last quarter. Finally, E Fund Management Co. Ltd. lifted its holdings in Denali Therapeutics by 32.2% during the 4th quarter. E Fund Management Co. Ltd. now owns 9,997 shares of the company’s stock valued at $204,000 after purchasing an additional 2,436 shares during the last quarter. 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.