Balyasny Asset Management L.P. Boosts Holdings in Denali Therapeutics Inc. (NASDAQ:DNLI)

Balyasny Asset Management L.P. boosted its position in shares of Denali Therapeutics Inc. (NASDAQ:DNLI - Free Report) by 822.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 416,074 shares of the company's stock after purchasing an additional 370,966 shares during the quarter. Balyasny Asset Management L.P. owned approximately 0.29% of Denali Therapeutics worth $8,480,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in shares of Denali Therapeutics by 7.6% in the 4th quarter. Vanguard Group Inc. now owns 12,021,230 shares of the company's stock worth $244,993,000 after buying an additional 843,996 shares in the last quarter. FMR LLC lifted its stake in 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 buying an additional 188,368 shares in the last quarter. Alliancebernstein L.P. lifted its stake in Denali Therapeutics by 8.8% in the 4th quarter. Alliancebernstein L.P. now owns 3,315,642 shares of the company's stock valued at $67,573,000 after buying an additional 268,378 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in Denali Therapeutics by 6.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,058,615 shares of the company's stock valued at $62,335,000 after buying an additional 188,820 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in shares of Denali Therapeutics by 19.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,855,036 shares of the company's stock valued at $37,805,000 after acquiring an additional 295,594 shares in the last quarter. 92.92% of the stock is currently owned by hedge funds and other institutional investors.

Denali Therapeutics Stock Performance

Shares of DNLI traded down $0.54 during trading hours on Tuesday, hitting $14.26. The stock had a trading volume of 1,204,844 shares, compared to its average volume of 1,095,670. The firm has a market cap of $2.07 billion, a P/E ratio of -5.17 and a beta of 1.49. The company's fifty day simple moving average is $14.20 and its 200 day simple moving average is $19.87. Denali Therapeutics Inc. has a 12-month low of $10.57 and a 12-month high of $33.33.

Denali Therapeutics (NASDAQ:DNLI - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The company reported ($0.78) EPS for the quarter, missing analysts' consensus estimates of ($0.71) by ($0.07). During the same period in the prior year, the firm posted ($0.68) earnings per share. As a group, sell-side analysts predict that Denali Therapeutics Inc. will post -2.71 earnings per share for the current fiscal year.

Analysts Set New Price Targets

DNLI has been the topic of several recent research reports. Robert W. Baird reduced their price objective on Denali Therapeutics from $30.00 to $29.00 and set an "outperform" rating on the stock in a research report on Thursday, May 8th. Oppenheimer reduced their target price on shares of Denali Therapeutics from $50.00 to $42.00 and set an "outperform" rating on the stock in a report on Monday, March 3rd. Wedbush reduced their target price on shares of Denali Therapeutics from $32.00 to $30.00 and set an "outperform" rating on the stock in a report on Wednesday, May 7th. HC Wainwright reduced their price objective on shares of Denali Therapeutics from $80.00 to $32.00 and set a "buy" rating on the stock in a research note on Wednesday, May 7th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of Denali Therapeutics in a research note on Tuesday, February 11th. They set a "buy" rating and a $31.00 price objective on the stock. One research analyst has rated the stock with a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, Denali Therapeutics has a consensus rating of "Buy" and an average target price of $33.79.

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.