Candriam S.C.A. Trims Holdings in Denali Therapeutics Inc. $DNLI

Key Points

• Candriam S.C.A. cut its stake in Denali Therapeutics by 5.7% in the first quarter, selling 66,534 shares and ending with 1,099,845 shares valued at about $21.1 million.
• Denali’s stock was trading around $25.68, near its 52-week high of $27.30, with a market cap of about $4.08 billion and strong liquidity metrics, including a current ratio of 9.28.
• The company reported a smaller-than-expected quarterly loss of ($0.69) per share, beating consensus estimates, while analysts currently maintain a Moderate Buy rating with an average target price of $34.25.

Candriam S.C.A. decreased its holdings in shares of Denali Therapeutics Inc. (NASDAQ:DNLI - Free Report) by 5.7% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,099,845 shares of the company's stock after selling 66,534 shares during the period. Candriam S.C.A. owned approximately 0.69% of Denali Therapeutics worth $21,117,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Foresite Capital Management VI LLC acquired a new stake in shares of Denali Therapeutics during the third quarter worth $14,520,000. Capricorn Fund Managers Ltd purchased a new position in Denali Therapeutics during the 4th quarter worth $1,027,000. Holocene Advisors LP lifted its stake in shares of Denali Therapeutics by 677.8% in the 3rd quarter. Holocene Advisors LP now owns 3,135,712 shares of the company's stock worth $45,531,000 after acquiring an additional 2,732,540 shares during the period. Baillie Gifford & Co. boosted its holdings in shares of Denali Therapeutics by 6.2% in the fourth quarter. Baillie Gifford & Co. now owns 12,310,889 shares of the company's stock valued at $203,253,000 after acquiring an additional 719,304 shares in the last quarter. Finally, Boxer Capital Management LLC purchased a new stake in shares of Denali Therapeutics in the third quarter valued at about $3,630,000. 92.92% of the stock is owned by institutional investors and hedge funds.

Denali Therapeutics Price Performance

Shares of NASDAQ:DNLI traded down $1.53 during midday trading on Friday, hitting $25.68. 1,383,081 shares of the stock were exchanged, compared to its average volume of 1,763,467. The stock has a market cap of $4.08 billion, a P/E ratio of -8.92 and a beta of 0.96. The company has a current ratio of 9.28, a quick ratio of 9.28 and a debt-to-equity ratio of 0.01. Denali Therapeutics Inc. has a twelve month low of $12.58 and a twelve month high of $27.30. The company has a 50 day moving average price of $21.79 and a 200-day moving average price of $20.36.

Denali Therapeutics (NASDAQ:DNLI - Get Free Report) last issued its quarterly earnings data on Thursday, May 7th. The company reported ($0.69) EPS for the quarter, beating analysts' consensus estimates of ($0.73) by $0.04. During the same quarter last year, the firm earned ($0.78) earnings per share. On average, research analysts forecast that Denali Therapeutics Inc. will post -2.77 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. Weiss Ratings restated a "sell (d-)" rating on shares of Denali Therapeutics in a research report on Monday, April 20th. Wedbush cut their target price on Denali Therapeutics from $25.00 to $23.00 and set an "outperform" rating for the company in a research note on Friday, May 8th. Wall Street Zen raised Denali Therapeutics from a "strong sell" rating to a "sell" rating in a report on Saturday, May 9th. Morgan Stanley reduced their target price on Denali Therapeutics from $40.00 to $35.00 and set an "overweight" rating for the company in a report on Friday, May 22nd. Finally, Leerink Partners cut their price target on shares of Denali Therapeutics from $40.00 to $35.00 and set an "outperform" rating for the company in a report on Wednesday, April 22nd. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Denali Therapeutics presently has a consensus rating of "Moderate Buy" and an average target price of $34.25.

Denali Therapeutics Company 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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