Denali Therapeutics (NASDAQ:DNLI) Shares Gap Down – What’s Next?

Denali Therapeutics Inc. (NASDAQ:DNLI) gapped down before the market opened on Friday . The stock had previously closed at $19.30, but opened at $18.52. Denali Therapeutics shares last traded at $18.6950, with a volume of 962,854 shares.

Wall Street Analyst Weigh In

DNLI has been the subject of a number of research reports. Wolfe Research initiated coverage on shares of Denali Therapeutics in a research note on Monday, February 23rd. They set a “peer perform” rating for the company. Deutsche Bank Aktiengesellschaft set a $31.00 target price on shares of Denali Therapeutics in a research note on Friday. Leerink Partners cut their target price 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. The Goldman Sachs Group raised their target price on shares of Denali Therapeutics from $35.00 to $40.00 and gave the stock a “buy” rating in a research note on Thursday, March 26th. Finally, HC Wainwright raised their target price on shares of Denali Therapeutics from $32.00 to $42.00 and gave the stock a “buy” rating in a research note on Thursday, March 26th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $34.67.

Denali Therapeutics Price Performance

The company has a quick ratio of 9.28, a current ratio of 9.28 and a debt-to-equity ratio of 0.01. The company’s 50 day moving average is $19.84 and its 200 day moving average is $19.05. The firm has a market capitalization of $3.01 billion, a price-to-earnings ratio of -6.59 and a beta of 0.99.

Denali Therapeutics (NASDAQ:DNLI) last released its quarterly earnings results on Thursday, May 7th. The company reported ($0.69) EPS for the quarter, beating the consensus estimate of ($0.73) by $0.04. During the same quarter last year, the company earned ($0.78) earnings per share. On average, equities research analysts anticipate that Denali Therapeutics Inc. will post -2.74 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Denali Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of DNLI. State of Wyoming lifted its position 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 purchasing an additional 532 shares during the period. Intrust Bank NA lifted its position in Denali Therapeutics by 5.6% during the fourth quarter. Intrust Bank NA now owns 11,164 shares of the company’s stock worth $184,000 after purchasing an additional 589 shares during the period. ADAR1 Capital Management LLC lifted its position in Denali Therapeutics by 1.2% during the fourth quarter. ADAR1 Capital Management LLC now owns 52,116 shares of the company’s stock worth $860,000 after purchasing an additional 600 shares during the period. PNC Financial Services Group Inc. lifted its position in Denali Therapeutics by 8.7% during the first quarter. PNC Financial Services Group Inc. now owns 9,220 shares of the company’s stock worth $177,000 after purchasing an additional 739 shares during the period. Finally, Pier 88 Investment Partners LLC lifted its position in 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 purchasing an additional 760 shares during the period. 92.92% of the stock is currently owned by institutional investors and hedge funds.

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.