Denali Therapeutics (NASDAQ:DNLI) Shares Gap Down – Here’s What Happened

by · The Cerbat Gem

Denali Therapeutics Inc. (NASDAQ:DNLI – Get Free Report) shares gapped down before the market opened on Wednesday . The stock had previously closed at $19.66, but opened at $18.30. Denali Therapeutics shares last traded at $18.7320, with a volume of 1,327,404 shares.

Wall Street Analyst Weigh In

DNLI has been the subject of a number of research analyst reports. JPMorgan Chase & Co. raised their target price on Denali Therapeutics from $24.00 to $26.00 and gave the company an “overweight” rating in a report on Tuesday, November 4th. Wedbush reduced their price target on shares of Denali Therapeutics from $31.00 to $30.00 and set an “outperform” rating on the stock in a research report on Thursday. Weiss Ratings restated a “sell (d-)” rating on shares of Denali Therapeutics in a report on Wednesday, October 8th. BTIG Research reiterated a “buy” rating and set a $32.00 target price on shares of Denali Therapeutics in a report on Friday, December 5th. Finally, Morgan Stanley decreased their price target on shares of Denali Therapeutics from $33.00 to $30.00 and set an “overweight” rating for the company in a research report on Monday, August 18th. Three analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $32.58.

View Our Latest Stock Report on DNLI

Denali Therapeutics Trading Up 3.0%

The company has a debt-to-equity ratio of 0.01, a quick ratio of 9.79 and a current ratio of 9.79. The company’s 50-day moving average price is $16.99 and its 200-day moving average price is $15.26. The firm has a market capitalization of $2.62 billion, a PE ratio of -6.11 and a beta of 1.11.

Denali Therapeutics (NASDAQ:DNLI – Get Free Report) last posted its earnings results on Thursday, November 6th. The company reported ($0.74) EPS for the quarter, beating the consensus estimate of ($0.76) by $0.02. The firm’s quarterly revenue was up .0% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.63) earnings per share. On average, sell-side analysts expect that Denali Therapeutics Inc. will post -2.71 earnings per share for the current year.

Hedge Funds Weigh In On Denali Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in DNLI. Tudor Investment Corp ET AL raised its holdings in Denali Therapeutics by 1.7% during the third quarter. Tudor Investment Corp ET AL now owns 56,368 shares of the company’s stock worth $818,000 after purchasing an additional 920 shares in the last quarter. Cantor Fitzgerald L. P. purchased a new position in shares of Denali Therapeutics in the 3rd quarter valued at $653,000. CIBC Bancorp USA Inc. purchased a new position in shares of Denali Therapeutics in the 3rd quarter valued at $205,000. Jacobs Levy Equity Management Inc. acquired a new stake in Denali Therapeutics during the 3rd quarter worth $667,000. Finally, XTX Topco Ltd purchased a new stake in Denali Therapeutics in the third quarter valued at $949,000. 92.92% of the stock is owned by institutional investors and hedge funds.

About Denali Therapeutics

(Get Free Report)

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.

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