Denali Therapeutics (NASDAQ:DNLI) Sees Unusually-High Trading Volume

Denali Therapeutics Inc. (NASDAQ:DNLI) saw unusually-high trading volume on Tuesday . Approximately 327,468 shares traded hands during mid-day trading, a decline of 53% from the previous session’s volume of 690,950 shares.The stock last traded at $21.76 and had previously closed at $22.29.

Analysts Set New Price Targets

DNLI has been the subject of a number of research analyst reports. Wedbush lowered their target price on Denali Therapeutics from $37.00 to $31.00 and set an “outperform” rating for the company in a report on Wednesday, August 9th. B. Riley started coverage on shares of Denali Therapeutics in a research note on Wednesday, September 6th. They set a “buy” rating and a $38.00 target price on the stock. Cantor Fitzgerald reissued an “overweight” rating and issued a $85.00 price target on shares of Denali Therapeutics in a research report on Thursday, August 31st. TheStreet cut Denali Therapeutics from a “c-” rating to a “d+” rating in a research note on Wednesday, September 6th. Finally, HC Wainwright reissued a “buy” rating and set a $105.00 target price on shares of Denali Therapeutics in a research note on Thursday, August 31st. Thirteen equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $54.17.

Denali Therapeutics Stock Performance

The firm has a 50-day moving average price of $25.57 and a two-hundred day moving average price of $26.65.

Denali Therapeutics (NASDAQ:DNLI) last released its quarterly earnings data on Tuesday, August 8th. The company reported $1.30 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.69) by $1.99. Denali Therapeutics had a negative net margin of 37.42% and a negative return on equity of 12.81%. The company had revenue of $294.10 million for the quarter, compared to analysts’ expectations of $39.51 million. During the same quarter last year, the company earned ($0.48) earnings per share. The firm’s revenue for the quarter was up 460.2% on a year-over-year basis. Research analysts forecast that Denali Therapeutics Inc. will post -1.23 earnings per share for the current fiscal year.

Insider Activity at Denali Therapeutics

In other Denali Therapeutics news, insider Alexander O. Schuth sold 10,000 shares of the firm’s stock in a transaction dated Monday, July 17th. The stock was sold at an average price of $29.60, for a total transaction of $296,000.00. Following the transaction, the insider now owns 528,691 shares of the company’s stock, valued at $15,649,253.60. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Denali Therapeutics news, insider Alexander O. Schuth sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, July 17th. The stock was sold at an average price of $29.60, for a total value of $296,000.00. Following the completion of the sale, the insider now owns 528,691 shares in the company, valued at $15,649,253.60. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Carole Ho sold 2,857 shares of the firm’s stock in a transaction that occurred on Thursday, August 10th. The stock was sold at an average price of $24.15, for a total transaction of $68,996.55. Following the transaction, the insider now owns 185,577 shares in the company, valued at $4,481,684.55. The disclosure for this sale can be found here. Insiders sold a total of 38,083 shares of company stock valued at $972,610 over the last ninety days. Insiders own 7.90% of the company’s stock.

Institutional Investors Weigh In On Denali Therapeutics

Hedge funds have recently made changes to their positions in the business. China Universal Asset Management Co. Ltd. increased its position in Denali Therapeutics by 34.1% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 1,851 shares of the company’s stock valued at $43,000 after acquiring an additional 471 shares during the period. PNC Financial Services Group Inc. lifted its position in Denali Therapeutics by 85.2% during the 4th quarter. PNC Financial Services Group Inc. now owns 1,669 shares of the company’s stock worth $46,000 after acquiring an additional 768 shares during the period. Sandia Investment Management LP acquired a new position in shares of Denali Therapeutics in the fourth quarter valued at approximately $70,000. Tower Research Capital LLC TRC increased its holdings in shares of Denali Therapeutics by 157.7% in the first quarter. Tower Research Capital LLC TRC now owns 4,005 shares of the company’s stock valued at $92,000 after purchasing an additional 2,451 shares during the period. Finally, Point72 Middle East FZE purchased a new stake in shares of Denali Therapeutics during the fourth quarter worth approximately $100,000. Institutional investors and hedge funds own 78.04% of the company’s stock.

About Denali Therapeutics

Denali Therapeutics Inc, a biopharmaceutical company, discovers and develops therapeutic candidates for neurodegenerative and lysosomal diseases in the United States and internationally. It offers leucine-rich repeat kinase 2 (LRRK2) inhibitor product candidate, including BIIB122/DNL151, a small molecule inhibitor, which is in phase I and phase Ib clinical trials for the treatment of Parkinson's disease; TAK-594/DNL593, which is in Phase I/II clinical trials for the treatment of frontotemporal dementia-granulin; TAK-920/DNL919, which is in Phase I clinical trials for the treatment of Alzheimer's disease.