Denali Therapeutics (NASDAQ:DNLI) Trading Down 8.1% – What’s Next?

Denali Therapeutics Inc. (NASDAQ:DNLI) shares fell 8.1% during trading on Wednesday . The stock traded as low as $18.50 and last traded at $18.4450. 1,203,236 shares changed hands during trading, a decline of 28% from the average session volume of 1,676,639 shares. The stock had previously closed at $20.06.

Analysts Set New Price Targets

Several brokerages have weighed in on DNLI. Robert W. Baird upped their target price on Denali Therapeutics from $32.00 to $34.00 and gave the stock an “outperform” rating in a report on Tuesday, April 7th. Stifel Nicolaus lifted their price objective on Denali Therapeutics from $34.00 to $41.00 and gave the company a “buy” rating in a report on Thursday, March 26th. Leerink Partners lowered their price objective on shares of Denali Therapeutics from $40.00 to $35.00 and set an “outperform” rating for the company in a research note on Wednesday, April 22nd. UBS Group initiated coverage on shares of Denali Therapeutics in a report on Wednesday, January 7th. They set a “buy” rating on the stock. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Denali Therapeutics in a research report on Monday, April 20th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Denali Therapeutics presently has an average rating of “Moderate Buy” and an average price target of $35.00.

Denali Therapeutics Trading Down 7.6%

The company has a current ratio of 9.16, a quick ratio of 9.16 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $2.94 billion, a P/E ratio of -6.24 and a beta of 1.10. The company has a 50-day moving average price of $20.30 and a 200 day moving average price of $18.75.

Denali Therapeutics (NASDAQ:DNLI) last posted its earnings results on Thursday, February 26th. The company reported ($0.73) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.75) by $0.02. During the same period in the previous year, the business posted ($0.67) earnings per share. On average, research analysts forecast that Denali Therapeutics Inc. will post -2.86 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Denali Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of DNLI. State of Wyoming boosted its stake in Denali Therapeutics by 24.7% in the fourth quarter. State of Wyoming now owns 2,686 shares of the company’s stock valued at $44,000 after acquiring an additional 532 shares in the last quarter. Intrust Bank NA lifted its holdings in shares of Denali Therapeutics by 5.6% during the 4th quarter. Intrust Bank NA now owns 11,164 shares of the company’s stock valued at $184,000 after purchasing an additional 589 shares during the last quarter. ADAR1 Capital Management LLC lifted its holdings in shares of Denali Therapeutics by 1.2% during the 4th quarter. ADAR1 Capital Management LLC now owns 52,116 shares of the company’s stock valued at $860,000 after purchasing an additional 600 shares during the last quarter. Pier 88 Investment Partners LLC lifted its holdings in shares of Denali Therapeutics by 1.1% during the 4th quarter. Pier 88 Investment Partners LLC now owns 68,200 shares of the company’s stock valued at $1,126,000 after purchasing an additional 760 shares during the last quarter. Finally, Tudor Investment Corp ET AL lifted its holdings in shares of Denali Therapeutics by 1.7% during the 3rd quarter. Tudor Investment Corp ET AL now owns 56,368 shares of the company’s stock valued at $818,000 after purchasing an additional 920 shares during the last quarter. Hedge funds and other institutional investors own 92.92% of the company’s stock.

About Denali Therapeutics

Denali Therapeutics is a clinical‐stage biopharmaceutical company focused on developing therapies for neurodegenerative diseases. The company’s research leverages a proprietary Blood–Brain Barrier Transport Vehicle (TV) platform designed to enable large molecules, including antibodies and enzymes, to penetrate the central nervous system. Denali’s approach includes small molecules, monoclonal antibodies and gene therapy candidates aimed at key drivers of disorders such as Alzheimer’s disease, Parkinson’s disease, amyotrophic lateral sclerosis (ALS) and frontotemporal dementia.

Among Denali’s lead programs is an orally delivered leucine‐rich repeat kinase 2 (LRRK2) inhibitor for Parkinson’s disease, and an anti‐TREM2 antibody designed to modulate microglial activity in Alzheimer’s patients.