Alyeska Investment Group L.P. Sells 1,721,789 Shares of Denali Therapeutics Inc. $DNLI

Key Points

• Alyeska Investment Group cut its Denali Therapeutics stake by 88.7% in the second quarter, selling 1,721,789 shares and retaining 219,334 shares valued at approximately $5.6 million.
• Denali reported a quarterly loss of $0.68 per share, missing analyst expectations of a $0.51 loss, although revenue of $3.6 million exceeded estimates. Institutional investors own 92.92% of the company.
• Wall Street’s consensus rating remains “Moderate Buy”, with an average price target of $35.85 versus the stock’s reported price of $23.26; analysts’ targets range from $26 to $41.

Alyeska Investment Group L.P. reduced its position in Denali Therapeutics Inc. (NASDAQ:DNLI - Free Report) by 88.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 219,334 shares of the company's stock after selling 1,721,789 shares during the period. Alyeska Investment Group L.P. owned 0.14% of Denali Therapeutics worth $5,641,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of DNLI. Empowered Funds LLC purchased a new stake in shares of Denali Therapeutics during the 2nd quarter valued at about $371,000. Jefferies Financial Group Inc. bought a new stake in shares of Denali Therapeutics in the 2nd quarter worth about $885,000. Capstone Investment Advisors LLC purchased a new position in shares of Denali Therapeutics during the second quarter valued at approximately $539,000. Bank of America Corp DE purchased a new position in Denali Therapeutics during the 2nd quarter valued at $31,660,000. Finally, Odyssean LLC purchased a new stake in shares of Denali Therapeutics during the second quarter valued at $3,217,000. 92.92% of the stock is owned by hedge funds and other institutional investors.

Denali Therapeutics Stock Performance

DNLI stock opened at $23.26 on Wednesday. Denali Therapeutics Inc. has a one year low of $12.58 and a one year high of $27.30. The firm has a market cap of $3.72 billion, a price-to-earnings ratio of -8.19 and a beta of 1.01. 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 50-day simple moving average of $24.58 and a two-hundred day simple moving average of $21.78.

Denali Therapeutics (NASDAQ:DNLI - Get Free Report) last issued its quarterly earnings data on Thursday, August 6th. The company reported ($0.68) EPS for the quarter, missing the consensus estimate of ($0.51) by ($0.17). The firm had revenue of $3.60 million during the quarter, compared to analysts' expectations of $2.15 million. During the same period in the previous year, the company posted ($0.72) EPS. On average, equities analysts forecast that Denali Therapeutics Inc. will post -2.67 EPS for the current fiscal year.

Insider Transactions at Denali Therapeutics

In related news, insider Alexander O. Schuth sold 2,857 shares of the firm's stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $25.07, for a total value of $71,624.99. Following the completion of the transaction, the insider owned 281,763 shares in the company, valued at $7,063,798.41. This trade represents a 1.00% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 9.70% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Robert W. Baird set a $34.00 price target on Denali Therapeutics in a report on Friday, August 7th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Denali Therapeutics in a report on Friday, July 17th. Sanford C. Bernstein reissued a "hold" rating on shares of Denali Therapeutics in a research report on Monday, June 22nd. Stifel Nicolaus set a $41.00 price target on Denali Therapeutics in a research note on Monday, June 22nd. Finally, Wedbush restated an "outperform" rating and issued a $26.00 price objective on shares of Denali Therapeutics in a report on Monday, July 13th. 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. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $35.85.

Denali Therapeutics Profile

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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