Denali Therapeutics (NASDAQ:DNLI) Sets New 52-Week Low – Should You Sell?

Shares of Denali Therapeutics Inc. (NASDAQ:DNLI) reached 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. The stock had previously closed at $14.12.

Analyst Ratings Changes

Several analysts have weighed in on the stock. Morgan Stanley initiated coverage on shares of Denali Therapeutics in a research note on Friday, March 7th. They issued an “overweight” rating and a $33.00 price target for the company. HC Wainwright increased their price target on shares of Denali Therapeutics from $80.00 to $87.00 and gave the stock a “buy” rating in a research note on Friday, February 28th. The Goldman Sachs Group dropped their target price on shares of Denali Therapeutics from $45.00 to $40.00 and set a “buy” rating on the stock in a report on Tuesday, January 28th. Stifel Nicolaus upgraded shares of Denali Therapeutics from a “hold” rating to a “buy” rating and set a $37.00 price target on the stock in a research note on Monday, December 16th. Finally, Deutsche Bank Aktiengesellschaft started coverage on Denali Therapeutics in a report on Tuesday, February 11th. They issued a “buy” rating and a $31.00 price objective for the company. Two investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $37.20.

Denali Therapeutics Stock Performance

The firm has a fifty day simple moving average of $19.50 and a two-hundred day simple moving average of $23.46. The firm has a market cap of $2.04 billion, a PE ratio of -5.09 and a beta of 1.46.

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

Insider Activity at Denali Therapeutics

In related news, CEO Ryan J. Watts sold 29,266 shares of the stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $20.22, for a total value of $591,758.52. Following the transaction, the chief executive officer now owns 260,721 shares of the company’s stock, valued at $5,271,778.62. This represents a 10.09 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Vicki L. Sato sold 3,080 shares of the firm’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $20.91, for a total value of $64,402.80. Following the transaction, the director now owns 107,976 shares in the company, valued at approximately $2,257,778.16. This represents a 2.77 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 47,940 shares of company stock worth $973,442. Insiders own 7.90% of the company’s stock.

Institutional Investors Weigh In On Denali Therapeutics

Several large investors have recently modified their holdings of DNLI. Victory Capital Management Inc. grew its stake in Denali Therapeutics by 163.7% in the third quarter. Victory Capital Management Inc. now owns 39,900 shares of the company’s stock valued at $1,162,000 after purchasing an additional 24,767 shares during the last quarter. FMR LLC increased its holdings in Denali Therapeutics by 3,234.3% in the third quarter. FMR LLC now owns 7,831,378 shares of the company’s stock valued at $228,128,000 after buying an additional 7,596,508 shares in the last quarter. Algert Global LLC lifted its position in shares of Denali Therapeutics by 82.4% during the 3rd quarter. Algert Global LLC now owns 48,630 shares of the company’s stock valued at $1,417,000 after buying an additional 21,975 shares in the last quarter. Proficio Capital Partners LLC purchased a new stake in shares of Denali Therapeutics during the fourth quarter worth approximately $514,000. Finally, JPMorgan Chase & Co. lifted its stake in shares of Denali Therapeutics by 6.5% in the third quarter. JPMorgan Chase & Co. now owns 235,386 shares of the company’s stock worth $6,857,000 after buying an additional 14,324 shares in the last quarter. Institutional investors own 92.92% of the company’s stock.

Denali Therapeutics Company Profile

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.