ADAR1 Capital Management LLC bought a new stake in Denali Therapeutics Inc. (NASDAQ:DNLI - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 1,029,080 shares of the company's stock, valued at approximately $26,468,000. Denali Therapeutics accounts for about 1.2% of ADAR1 Capital Management LLC's portfolio, making the stock its 15th biggest position. ADAR1 Capital Management LLC owned 0.64% of Denali Therapeutics at the end of the most recent quarter.
Several other hedge funds have also recently added to or reduced their stakes in DNLI. Legal & General Group Plc bought a new stake in shares of Denali Therapeutics in the 2nd quarter valued at approximately $2,879,000. The Manufacturers Life Insurance Company acquired a new position in shares of Denali Therapeutics in the 2nd quarter worth approximately $3,018,000. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Denali Therapeutics during the 2nd quarter worth approximately $477,000. Elevation Point Wealth Partners LLC bought a new position in shares of Denali Therapeutics during the 2nd quarter worth approximately $215,000. Finally, Ieq Capital LLC acquired a new stake in Denali Therapeutics in the 2nd quarter valued at $519,000. Institutional investors and hedge funds own 92.92% of the company's stock.
Denali Therapeutics Price Performance
Denali Therapeutics stock opened at $24.93 on Wednesday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 8.32 and a current ratio of 8.37. The firm has a market cap of $3.99 billion, a P/E ratio of -8.78 and a beta of 1.01. The business's fifty day moving average is $24.55 and its two-hundred day moving average is $21.64. Denali Therapeutics Inc. has a 52 week low of $12.58 and a 52 week high of $27.30.
Denali Therapeutics (NASDAQ:DNLI - Get Free Report) last announced its earnings results on Thursday, August 6th. The company reported ($0.68) earnings per share for the quarter, missing analysts' consensus estimates of ($0.51) by ($0.17). The firm had revenue of $3.60 million during the quarter, compared to the consensus estimate of $2.15 million. During the same period in the previous year, the business posted ($0.72) EPS. Equities research analysts forecast that Denali Therapeutics Inc. will post -2.59 earnings per share for the current fiscal year.
Insider Buying and Selling at Denali Therapeutics
In other news, insider Alexander O. Schuth sold 2,857 shares of the company's stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $25.07, for a total transaction of $71,624.99. Following the transaction, the insider directly owned 281,763 shares in the company, valued at approximately $7,063,798.41. This represents a 1.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 9.70% of the company's stock.
Analysts Set New Price Targets
A number of brokerages have weighed in on DNLI. JPMorgan Chase & Co. initiated coverage on Denali Therapeutics in a research report on Monday, July 13th. They issued an "overweight" rating and a $29.00 price target on the stock. Sanford C. Bernstein restated a "hold" rating on shares of Denali Therapeutics in a research note on Monday, June 22nd. UBS Group upped their target price on shares of Denali Therapeutics from $25.00 to $34.00 and gave the stock a "buy" rating in a report on Friday, August 7th. Wall Street Zen upgraded shares of Denali Therapeutics from a "sell" rating to a "hold" rating in a research report on Saturday, August 8th. Finally, Robert W. Baird set a $34.00 price target on shares of Denali Therapeutics in a report on Friday, August 7th. Fourteen research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, Denali Therapeutics currently has an average rating of "Moderate Buy" and an average price target of $35.85.
Check Out Our Latest Report on Denali Therapeutics
About Denali Therapeutics
(
Free Report)
Denali Therapeutics is a clinical‐stage biopharmaceutical company focused on developing therapies for neurodegenerative diseases. The company's research leverages a proprietary Blood–Brain Barrier Transport Vehicle (TV) platform designed to enable large molecules, including antibodies and enzymes, to penetrate the central nervous system. Denali's approach includes small molecules, monoclonal antibodies and gene therapy candidates aimed at key drivers of disorders such as Alzheimer's disease, Parkinson's disease, amyotrophic lateral sclerosis (ALS) and frontotemporal dementia.
Among Denali's lead programs is an orally delivered leucine‐rich repeat kinase 2 (LRRK2) inhibitor for Parkinson's disease, and an anti‐TREM2 antibody designed to modulate microglial activity in Alzheimer's patients.
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