Invesco Ltd. lessened its position in shares of Denali Therapeutics Inc. (NASDAQ:DNLI - Free Report) by 41.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 121,478 shares of the company's stock after selling 84,885 shares during the period. Invesco Ltd. owned approximately 0.08% of Denali Therapeutics worth $2,476,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds have also added to or reduced their stakes in the company. PNC Financial Services Group Inc. raised its holdings in shares of Denali Therapeutics by 30.5% during the 4th quarter. PNC Financial Services Group Inc. now owns 3,790 shares of the company's stock worth $77,000 after buying an additional 885 shares in the last quarter. KBC Group NV lifted its holdings in shares of Denali Therapeutics by 75.8% in the fourth quarter. KBC Group NV now owns 6,334 shares of the company's stock worth $129,000 after acquiring an additional 2,731 shares during the last quarter. AlphaQuest LLC lifted its holdings in shares of Denali Therapeutics by 177.1% in the fourth quarter. AlphaQuest LLC now owns 6,961 shares of the company's stock worth $142,000 after acquiring an additional 4,449 shares during the last quarter. E Fund Management Co. Ltd. boosted its stake in shares of Denali Therapeutics by 32.2% in the 4th quarter. E Fund Management Co. Ltd. now owns 9,997 shares of the company's stock valued at $204,000 after purchasing an additional 2,436 shares in the last quarter. Finally, SG Americas Securities LLC grew its holdings in shares of Denali Therapeutics by 128.8% during the 4th quarter. SG Americas Securities LLC now owns 11,003 shares of the company's stock valued at $224,000 after purchasing an additional 6,195 shares during the last quarter. 92.92% of the stock is owned by institutional investors.
Analysts Set New Price Targets
A number of analysts have weighed in on DNLI shares. Bank of America cut their target price on shares of Denali Therapeutics from $30.00 to $28.00 and set a "buy" rating on the stock in a research report on Monday, March 10th. Deutsche Bank Aktiengesellschaft started coverage on Denali Therapeutics in a research report on Tuesday, February 11th. They set a "buy" rating and a $31.00 price objective on the stock. Oppenheimer dropped their target price on Denali Therapeutics from $50.00 to $42.00 and set an "outperform" rating for the company in a research report on Monday, March 3rd. HC Wainwright boosted their price target on Denali Therapeutics from $80.00 to $87.00 and gave the stock a "buy" rating in a report on Friday, February 28th. Finally, William Blair upgraded shares of Denali Therapeutics to a "strong-buy" rating in a report on Thursday, April 24th. One research analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, Denali Therapeutics currently has a consensus rating of "Buy" and an average price target of $37.57.
Get Our Latest Research Report on DNLI
Denali Therapeutics Stock Performance
Shares of NASDAQ:DNLI traded up $0.38 during midday trading on Friday, reaching $16.44. The company's stock had a trading volume of 1,118,564 shares, compared to its average volume of 1,087,313. Denali Therapeutics Inc. has a fifty-two week low of $10.57 and a fifty-two week high of $33.33. The firm has a 50 day moving average price of $14.51 and a two-hundred day moving average price of $20.46. The firm has a market capitalization of $2.39 billion, a price-to-earnings ratio of -5.96 and a beta of 1.49.
Denali Therapeutics (NASDAQ:DNLI - Get Free Report) last released its quarterly earnings data on Thursday, February 27th. The company reported ($0.67) earnings per share for the quarter, beating the consensus estimate of ($0.75) by $0.08. As a group, research analysts anticipate that Denali Therapeutics Inc. will post -2.71 earnings per share for the current year.
Denali Therapeutics Company Profile
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Free Report)
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.
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