Invesco Ltd. Reduces Stock Holdings in Denali Therapeutics Inc. (NASDAQ:DNLI)

Invesco Ltd. lessened its stake 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 Form 13F filing with the SEC. The firm owned 121,478 shares of the company's stock after selling 84,885 shares during the quarter. Invesco Ltd. owned approximately 0.08% of Denali Therapeutics worth $2,476,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the company. FMR LLC boosted its holdings in Denali Therapeutics by 2.4% in the fourth quarter. FMR LLC now owns 8,019,746 shares of the company's stock valued at $163,442,000 after acquiring an additional 188,368 shares in the last quarter. Envestnet Asset Management Inc. increased its position in shares of Denali Therapeutics by 34.5% during the fourth quarter. Envestnet Asset Management Inc. now owns 37,622 shares of the company's stock valued at $767,000 after buying an additional 9,643 shares during the period. Bryce Point Capital LLC bought a new position in Denali Therapeutics in the fourth quarter worth about $419,000. Groupama Asset Managment lifted its holdings in Denali Therapeutics by 41.2% in the fourth quarter. Groupama Asset Managment now owns 110,207 shares of the company's stock worth $2,231,000 after buying an additional 32,162 shares during the period. Finally, Trexquant Investment LP boosted its position in Denali Therapeutics by 147.2% during the 4th quarter. Trexquant Investment LP now owns 60,656 shares of the company's stock valued at $1,236,000 after acquiring an additional 36,122 shares in the last quarter. 92.92% of the stock is owned by hedge funds and other institutional investors.

Denali Therapeutics Trading Up 4.6 %

DNLI stock traded up $0.73 during midday trading on Friday, reaching $16.79. 704,820 shares of the company's stock traded hands, compared to its average volume of 1,084,068. Denali Therapeutics Inc. has a 52-week low of $10.57 and a 52-week high of $33.33. The stock has a market cap of $2.44 billion, a P/E ratio of -6.11 and a beta of 1.58. The stock's 50-day moving average is $14.57 and its 200 day moving average is $20.58.

Denali Therapeutics (NASDAQ:DNLI - Get Free Report) last released its quarterly earnings results on Thursday, February 27th. The company reported ($0.67) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.75) by $0.08. As a group, research analysts expect that Denali Therapeutics Inc. will post -2.71 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

DNLI has been the subject of a number of research analyst reports. Oppenheimer lowered their target price on Denali Therapeutics from $50.00 to $42.00 and set an "outperform" rating for the company in a research note on Monday, March 3rd. B. Riley reaffirmed a "buy" rating and issued a $35.00 target price (down from $38.00) on shares of Denali Therapeutics in a research report on Wednesday, March 5th. The Goldman Sachs Group lowered their price target on shares of Denali Therapeutics from $45.00 to $40.00 and set a "buy" rating for the company in a research report on Tuesday, January 28th. Cantor Fitzgerald upgraded shares of Denali Therapeutics from a "neutral" rating to an "overweight" rating in a report on Thursday, April 10th. Finally, Morgan Stanley started coverage on shares of Denali Therapeutics in a report on Friday, March 7th. They set an "overweight" rating and a $33.00 target price for the company. One analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Denali Therapeutics presently has an average rating of "Buy" and an average price target 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.