Denali Therapeutics (NASDAQ:DNLI) Stock Price Down 6.6% – Here’s Why

Denali Therapeutics Inc. (NASDAQ:DNLI)’s stock price dropped 6.6% during trading on Friday . The stock traded as low as $25.25 and last traded at $25.4010. Approximately 618,243 shares changed hands during trading, a decline of 65% from the average daily volume of 1,777,727 shares. The stock had previously closed at $27.21.

Analysts Set New Price Targets

Several research analysts recently commented on the company. BTIG Research reaffirmed a “buy” rating and issued a $39.00 target price on shares of Denali Therapeutics in a research report on Monday, May 11th. Wedbush lowered their target price on Denali Therapeutics from $25.00 to $23.00 and set an “outperform” rating for the company in a research note on Friday, May 8th. Deutsche Bank Aktiengesellschaft set a $31.00 price objective on shares of Denali Therapeutics in a research note on Friday, May 22nd. HC Wainwright boosted their target price on Denali Therapeutics from $32.00 to $42.00 and gave the stock a “buy” rating in a research report on Thursday, March 26th. Finally, UBS Group reissued a “buy” rating on shares of Denali Therapeutics in a research report on Tuesday, June 16th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Denali Therapeutics currently has a consensus rating of “Moderate Buy” and an average price target of $34.25.

Denali Therapeutics Trading Down 6.2%

The firm has a market cap of $4.05 billion, a price-to-earnings ratio of -8.86 and a beta of 0.96. The company has a debt-to-equity ratio of 0.01, a current ratio of 9.28 and a quick ratio of 9.28. The business has a 50-day moving average of $21.65 and a 200-day moving average of $20.32.

Denali Therapeutics (NASDAQ:DNLI) last released its quarterly earnings data on Thursday, May 7th. The company reported ($0.69) earnings per share for the quarter, topping the consensus estimate of ($0.73) by $0.04. During the same quarter last year, the business earned ($0.78) EPS. Research analysts anticipate that Denali Therapeutics Inc. will post -2.77 EPS for the current year.

Institutional Trading of Denali Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the business. State of Wyoming grew its stake in Denali Therapeutics by 24.7% during the fourth quarter. State of Wyoming now owns 2,686 shares of the company’s stock worth $44,000 after buying an additional 532 shares in the last quarter. Intrust Bank NA boosted its stake in shares of Denali Therapeutics by 5.6% in 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 in the last quarter. ADAR1 Capital Management LLC increased its position in Denali Therapeutics by 1.2% during the 4th quarter. ADAR1 Capital Management LLC now owns 52,116 shares of the company’s stock worth $860,000 after purchasing an additional 600 shares in the last quarter. PNC Financial Services Group Inc. boosted its position in Denali Therapeutics by 8.7% in the first quarter. PNC Financial Services Group Inc. now owns 9,220 shares of the company’s stock valued at $177,000 after buying an additional 739 shares in the last quarter. Finally, Pier 88 Investment Partners LLC grew its stake in shares of Denali Therapeutics by 1.1% during the fourth quarter. Pier 88 Investment Partners LLC now owns 68,200 shares of the company’s stock worth $1,126,000 after buying an additional 760 shares during the last quarter. Institutional investors and hedge funds 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.