Denali Therapeutics Inc. (NASDAQ:DNLI) Position Reduced by Capital Research Global Investors

Capital Research Global Investors decreased its holdings in Denali Therapeutics Inc. (NASDAQ:DNLI - Free Report) by 30.7% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 5,477,211 shares of the company's stock after selling 2,431,903 shares during the quarter. Capital Research Global Investors owned approximately 3.81% of Denali Therapeutics worth $111,626,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the business. Sterling Capital Management LLC grew its position in shares of Denali Therapeutics by 589.9% during the fourth quarter. Sterling Capital Management LLC now owns 1,773 shares of the company's stock worth $36,000 after buying an additional 1,516 shares in the last quarter. PNC Financial Services Group Inc. increased its holdings in Denali Therapeutics by 30.5% in the fourth quarter. PNC Financial Services Group Inc. now owns 3,790 shares of the company's stock valued at $77,000 after buying an additional 885 shares during the last quarter. KBC Group NV raised its stake in Denali Therapeutics by 75.8% during the fourth quarter. KBC Group NV now owns 6,334 shares of the company's stock valued at $129,000 after buying an additional 2,731 shares in the last quarter. AlphaQuest LLC grew its position in shares of Denali Therapeutics by 177.1% in the 4th quarter. AlphaQuest LLC now owns 6,961 shares of the company's stock worth $142,000 after acquiring an additional 4,449 shares in the last quarter. Finally, E Fund Management Co. Ltd. raised its position in shares of Denali Therapeutics by 32.2% during the 4th quarter. E Fund Management Co. Ltd. now owns 9,997 shares of the company's stock valued at $204,000 after acquiring an additional 2,436 shares in the last quarter. Institutional investors and hedge funds own 92.92% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. The Goldman Sachs Group dropped their target price on shares of Denali Therapeutics from $45.00 to $40.00 and set a "buy" rating on the stock in a report on Tuesday, January 28th. William Blair raised Denali Therapeutics to a "strong-buy" rating in a report on Thursday. B. Riley restated a "buy" rating and set a $35.00 price objective (down from $38.00) on shares of Denali Therapeutics in a research note on Wednesday, March 5th. JPMorgan Chase & Co. cut their target price on Denali Therapeutics from $28.00 to $24.00 and set an "overweight" rating on the stock in a research note on Tuesday, January 7th. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of Denali Therapeutics in a research report on Tuesday, February 11th. They issued 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 given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus target price of $37.57.

Denali Therapeutics Trading Up 1.2 %

DNLI stock traded up $0.19 during trading hours on Friday, hitting $15.68. 1,150,314 shares of the stock traded hands, compared to its average volume of 1,078,803. The stock has a 50-day simple moving average of $14.97 and a 200 day simple moving average of $20.87. Denali Therapeutics Inc. has a one year low of $10.57 and a one year high of $33.33. The company has a market cap of $2.28 billion, a P/E ratio of -5.68 and a beta of 1.58.

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

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.