1,201,156 Denali Therapeutics Inc. $DNLI Shares Sold by Pictet Asset Management Holding SA

Key Points

• Pictet Asset Management cut its Denali Therapeutics stake by 43% in the third quarter, selling 1,201,156 shares; it retained 1,590,050 shares valued at about $33 million.
• Analysts have a “Moderate Buy” consensus on DNLI, with an average price target of $36.15; 13 analysts rate the stock Buy or Strong Buy.
• Denali reported quarterly EPS of $0.37, beating the consensus estimate of a $0.27 loss, and revenue of $17.78 million versus an estimated $12.67 million.

Pictet Asset Management Holding SA lessened its holdings in shares of Denali Therapeutics Inc. (NASDAQ:DNLI - Free Report) by 43.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,590,050 shares of the company's stock after selling 1,201,156 shares during the period. Pictet Asset Management Holding SA owned approximately 0.99% of Denali Therapeutics worth $32,960,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the business. BlackRock Inc. purchased a new stake in Denali Therapeutics in the 2nd quarter worth approximately $360,759,000. ADAR1 Capital Management LLC grew its stake in shares of Denali Therapeutics by 3,490.9% during the 1st quarter. ADAR1 Capital Management LLC now owns 1,871,455 shares of the company's stock worth $35,932,000 after purchasing an additional 1,819,339 shares during the period. Bank of America Corp DE acquired a new stake in shares of Denali Therapeutics during the 2nd quarter worth approximately $31,660,000. Bank of New York Mellon Corp purchased a new position in shares of Denali Therapeutics during the 2nd quarter valued at approximately $20,583,000. Finally, Defilade Capital Management L.P. increased its holdings in shares of Denali Therapeutics by 107.1% during the 1st quarter. Defilade Capital Management L.P. now owns 1,359,969 shares of the company's stock valued at $26,111,000 after purchasing an additional 703,256 shares in the last quarter. Institutional investors and hedge funds own 92.92% of the company's stock.

Wall Street Analysts Forecast Growth

DNLI has been the subject of several analyst reports. Robert W. Baird set a $34.00 target price on shares of Denali Therapeutics in a research note on Friday, August 7th. Deutsche Bank Aktiengesellschaft raised their price target on shares of Denali Therapeutics from $31.00 to $35.00 and gave the company a "buy" rating in a research report on Thursday, July 16th. Wall Street Zen raised shares of Denali Therapeutics from a "sell" rating to a "hold" rating in a report on Saturday, October 24th. Morgan Stanley upped their price objective on shares of Denali Therapeutics from $40.00 to $42.00 and gave the stock an "overweight" rating in a research report on Wednesday, November 4th. Finally, Wedbush increased their target price on shares of Denali Therapeutics from $23.00 to $24.00 and gave the stock an "outperform" rating in a research note on Wednesday, November 4th. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $36.15.

Denali Therapeutics Stock Down 2.4%

Shares of DNLI opened at $19.85 on Wednesday. The firm has a market cap of $3.18 billion, a P/E ratio of -11.47 and a beta of 1.08. Denali Therapeutics Inc. has a 12 month low of $15.18 and a 12 month high of $27.30. The stock's 50 day moving average is $20.00 and its two-hundred day moving average is $21.28. The company has a current ratio of 6.21, a quick ratio of 5.94 and a debt-to-equity ratio of 0.01.

Denali Therapeutics (NASDAQ:DNLI - Get Free Report) last announced its earnings results on Tuesday, November 3rd. The company reported $0.37 earnings per share for the quarter, topping the consensus estimate of ($0.27) by $0.64. The business had revenue of $17.78 million for the quarter, compared to analyst estimates of $12.67 million. During the same period in the previous year, the company earned ($0.74) earnings per share. Analysts predict that Denali Therapeutics Inc. will post -1.94 earnings per share for the current fiscal year.

Insider Transactions at Denali Therapeutics

In related news, insider Alexander O. Schuth sold 2,768 shares of the business's stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $23.44, for a total value of $64,881.92. Following the completion of the sale, the insider owned 278,995 shares of the company's stock, valued at approximately $6,539,642.80. The trade was a 0.98% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 9.70% of the company's stock.

Denali Therapeutics Profile

Denali Therapeutics is a biotechnology company focused on developing medicines for neurodegenerative diseases and other disorders involving the nervous system. Founded in 2015, the company is headquartered in South San Francisco, California. Its research and development programs target conditions including Alzheimer's disease, Parkinson's disease, amyotrophic lateral sclerosis and lysosomal storage disorders. Denali's portfolio includes investigational drug candidates that aim to address underlying disease processes, as well as its TransportVehicle platform, designed to help therapeutic molecules cross the blood-brain barrier.

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