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

Denali Therapeutics Inc. (NASDAQ:DNLI)’s stock price 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

A number of research firms have weighed in on DNLI. Wedbush upped their target price on Denali Therapeutics from $30.00 to $31.00 and gave the stock an “outperform” rating in a research report on Friday. BTIG Research restated a “buy” rating and issued a $32.00 price objective on shares of Denali Therapeutics in a report on Friday, December 5th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Denali Therapeutics in a report on Monday, September 8th. Stifel Nicolaus set a $37.00 price target on shares of Denali Therapeutics in a report on Monday, November 17th. Finally, Morgan Stanley lowered their price objective on shares of Denali Therapeutics from $33.00 to $30.00 and set an “overweight” rating on the stock in a research note on Monday, August 18th. Three analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Denali Therapeutics has a consensus rating of “Buy” and a consensus target price of $32.67.

Denali Therapeutics Stock Performance

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 firm’s 50 day moving average is $16.89 and its 200-day moving average is $15.23. The firm has a market cap of $2.66 billion, a price-to-earnings ratio of -6.23 and a beta of 1.11.

Denali Therapeutics (NASDAQ:DNLI) last released 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. During the same quarter last year, the firm earned ($0.63) EPS. The business’s quarterly revenue was up .0% compared to the same quarter last year. Sell-side analysts anticipate that Denali Therapeutics Inc. will post -2.71 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. increased its position in shares of Denali Therapeutics by 1.5% during the 3rd quarter. Vanguard Group Inc. now owns 11,992,918 shares of the company’s stock worth $174,137,000 after purchasing an additional 182,183 shares in the last quarter. Wellington Management Group LLP boosted its holdings in shares of Denali Therapeutics by 15.9% in the 1st quarter. Wellington Management Group LLP now owns 11,409,598 shares of the company’s stock worth $155,113,000 after acquiring an additional 1,561,647 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in Denali Therapeutics by 88.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 6,766,916 shares of the company’s stock valued at $91,996,000 after purchasing an additional 3,184,042 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in Denali Therapeutics by 42.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 4,367,234 shares of the company’s stock worth $59,373,000 after purchasing an additional 1,308,619 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of Denali Therapeutics during the second quarter worth $55,224,000. 92.92% of the stock is currently owned by institutional investors and hedge funds.

About Denali Therapeutics

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.