Alliancebernstein L.P. Has $42.88 Million Position in Denali Therapeutics Inc. $DNLI

Key Points

• Alliancebernstein L.P. reduced its stake in Denali Therapeutics Inc. by 4.9%, now holding approximately 3.15 million shares worth about $42.88 million.
• Insider trades have been significant, with CEO Ryan J. Watts selling over 495,000 shares, resulting in a 66.18% decrease in his ownership;
• Analysts have varying price targets, with Morgan Stanley lowering its target from $33.00 to $30.00 while the consensus rating remains a "Buy" with a price target of $33.50.

Alliancebernstein L.P. decreased its position in shares of Denali Therapeutics Inc. (NASDAQ:DNLI - Free Report) by 4.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,154,387 shares of the company's stock after selling 161,255 shares during the quarter. Alliancebernstein L.P. owned about 2.17% of Denali Therapeutics worth $42,884,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Caitong International Asset Management Co. Ltd raised its holdings in Denali Therapeutics by 277.0% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 2,111 shares of the company's stock worth $29,000 after buying an additional 1,551 shares during the period. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in Denali Therapeutics during the 1st quarter worth approximately $41,000. GF Fund Management CO. LTD. acquired a new stake in Denali Therapeutics during the 4th quarter worth approximately $62,000. Point72 Hong Kong Ltd acquired a new stake in Denali Therapeutics during the 4th quarter worth approximately $65,000. Finally, GAMMA Investing LLC raised its holdings in Denali Therapeutics by 253.8% during the 1st quarter. GAMMA Investing LLC now owns 7,953 shares of the company's stock worth $108,000 after buying an additional 5,705 shares during the period. Institutional investors own 92.92% of the company's stock.

Wall Street Analysts Forecast Growth

DNLI has been the topic of a number of research reports. Morgan Stanley cut their price objective on shares of Denali Therapeutics from $33.00 to $30.00 and set an "overweight" rating on the stock in a research report on Monday, August 18th. TD Cowen raised shares of Denali Therapeutics to a "strong-buy" rating in a research report on Monday, July 28th. Cantor Fitzgerald reissued an "overweight" rating on shares of Denali Therapeutics in a research report on Monday, September 8th. Finally, Bank of America lowered their target price on shares of Denali Therapeutics from $28.00 to $27.00 and set a "buy" rating on the stock in a report on Monday, May 19th. Three equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of "Buy" and an average target price of $33.50.

Denali Therapeutics Price Performance

DNLI traded down $0.63 on Friday, hitting $14.19. 1,598,993 shares of the stock were exchanged, compared to its average volume of 1,903,711. Denali Therapeutics Inc. has a 12 month low of $10.57 and a 12 month high of $33.33. The business has a 50-day moving average of $14.59 and a two-hundred day moving average of $14.41. The company has a debt-to-equity ratio of 0.01, a current ratio of 10.27 and a quick ratio of 10.27. The firm has a market capitalization of $2.07 billion, a price-to-earnings ratio of -5.07 and a beta of 1.23.

Denali Therapeutics (NASDAQ:DNLI - Get Free Report) last posted its quarterly earnings data on Monday, August 11th. The company reported ($0.72) earnings per share for the quarter, topping the consensus estimate of ($0.74) by $0.02. During the same quarter in the prior year, the firm posted ($0.59) EPS. Sell-side analysts forecast that Denali Therapeutics Inc. will post -2.71 EPS for the current fiscal year.

Insider Transactions at Denali Therapeutics

In other news, insider Carole Ho sold 2,937 shares of the stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $13.58, for a total value of $39,884.46. Following the completion of the transaction, the insider owned 217,391 shares of the company's stock, valued at approximately $2,952,169.78. This represents a 1.33% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Ryan J. Watts sold 495,282 shares of the stock in a transaction dated Wednesday, July 9th. The stock was sold at an average price of $15.00, for a total transaction of $7,429,230.00. Following the completion of the transaction, the chief executive officer directly owned 253,071 shares of the company's stock, valued at $3,796,065. This trade represents a 66.18% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 501,962 shares of company stock valued at $7,520,799. 12.50% of the stock is currently owned by insiders.

Denali Therapeutics Company Profile

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.