Walleye Capital LLC Takes $506,000 Position in Denali Therapeutics Inc. (NASDAQ:DNLI)

Walleye Capital LLC bought a new stake in Denali Therapeutics Inc. (NASDAQ:DNLI - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 24,820 shares of the company's stock, valued at approximately $506,000.

Other hedge funds have also recently added to or reduced their stakes in the company. XTX Topco Ltd acquired a new stake in shares of Denali Therapeutics in the 4th quarter valued at about $328,000. Barclays PLC increased its position in Denali Therapeutics by 8.7% during the fourth quarter. Barclays PLC now owns 278,067 shares of the company's stock worth $5,666,000 after buying an additional 22,184 shares in the last quarter. Sterling Capital Management LLC grew its stake in Denali Therapeutics by 589.9% in the 4th quarter. Sterling Capital Management LLC now owns 1,773 shares of the company's stock worth $36,000 after acquiring an additional 1,516 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of Denali Therapeutics during the 4th quarter valued at $533,000. Finally, FMR LLC lifted its stake in shares of Denali Therapeutics by 2.4% in the 4th quarter. FMR LLC now owns 8,019,746 shares of the company's stock valued at $163,442,000 after purchasing an additional 188,368 shares in the last quarter. Institutional investors and hedge funds own 92.92% of the company's stock.

Denali Therapeutics Stock Up 0.8 %

DNLI stock traded up $0.13 during trading on Tuesday, hitting $16.38. The company had a trading volume of 220,695 shares, compared to its average volume of 1,076,749. The firm has a market capitalization of $2.38 billion, a P/E ratio of -5.92 and a beta of 1.58. Denali Therapeutics Inc. has a 52-week low of $10.57 and a 52-week high of $33.33. The company has a 50 day simple moving average of $14.85 and a 200-day simple moving average of $20.71.

Denali Therapeutics (NASDAQ:DNLI - Get Free Report) last announced its quarterly earnings results on Thursday, February 27th. The company reported ($0.67) earnings per share for the quarter, topping the consensus estimate of ($0.75) by $0.08. Sell-side analysts forecast that Denali Therapeutics Inc. will post -2.71 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on DNLI. Robert W. Baird assumed coverage on shares of Denali Therapeutics in a report on Tuesday, January 7th. They issued an "outperform" rating and a $31.00 target price on the stock. William Blair upgraded Denali Therapeutics to a "strong-buy" rating in a research report on Thursday, April 24th. HC Wainwright lifted their target price on Denali Therapeutics from $80.00 to $87.00 and gave the company a "buy" rating in a research note on Friday, February 28th. B. Riley restated a "buy" rating and set a $35.00 price target (down previously from $38.00) on shares of Denali Therapeutics in a report on Wednesday, March 5th. Finally, Baird R W upgraded shares of Denali Therapeutics to a "strong-buy" rating in a report on Tuesday, January 7th. One equities research analyst has rated the stock with a hold rating, fourteen have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Buy" and an average target price of $37.57.

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.