Denali Therapeutics Inc. $DNLI is ADAR1 Capital Management LLC's 10th Largest Position

Key Points

• ADAR1 Capital Management increased its Denali Therapeutics stake by 3,490.9% in the first quarter to 1.87 million shares valued at approximately $35.9 million, making DNLI its 10th-largest holding. Institutional investors collectively own 92.92% of the company.
• Denali shares opened at $24.05 after rising 2%, while the company reported a quarterly loss of $0.69 per share—better than analysts’ expected loss of $0.73. Analysts forecast a full-year loss of $2.73 per share.
• Analyst sentiment remains broadly positive, with a “Moderate Buy” consensus and an average price target of $35.17, compared with recent trading near $24. Denali is developing therapies for neurodegenerative diseases, including Parkinson’s, Alzheimer’s, ALS and frontotemporal dementia.

ADAR1 Capital Management LLC grew its position in Denali Therapeutics Inc. (NASDAQ:DNLI - Free Report) by 3,490.9% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,871,455 shares of the company's stock after acquiring an additional 1,819,339 shares during the quarter. Denali Therapeutics accounts for 2.1% of ADAR1 Capital Management LLC's portfolio, making the stock its 10th biggest holding. ADAR1 Capital Management LLC owned approximately 1.18% of Denali Therapeutics worth $35,932,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the company. Headlands Technologies LLC purchased a new position in shares of Denali Therapeutics in the second quarter valued at $26,000. Johnson Financial Group Inc. purchased a new stake in Denali Therapeutics during the third quarter valued at $29,000. State of Wyoming purchased a new stake in Denali Therapeutics during the second quarter valued at $29,000. Fifth Third Bancorp bought a new position in Denali Therapeutics during the first quarter valued at $55,000. Finally, Aster Capital Management DIFC Ltd bought a new position in Denali Therapeutics during the fourth quarter valued at $57,000. 92.92% of the stock is owned by hedge funds and other institutional investors.

Denali Therapeutics Trading Up 2.0%

Shares of DNLI opened at $24.05 on Wednesday. Denali Therapeutics Inc. has a twelve month low of $12.58 and a twelve month high of $27.30. The company has a market cap of $3.82 billion, a P/E ratio of -8.35 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. The company's fifty day simple moving average is $22.83 and its 200-day simple moving average is $20.96.

Denali Therapeutics (NASDAQ:DNLI - Get Free Report) last released its earnings results on Thursday, May 7th. The company reported ($0.69) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.73) by $0.04. During the same quarter in the prior year, the business posted ($0.78) earnings per share. As a group, analysts expect that Denali Therapeutics Inc. will post -2.73 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Stifel Nicolaus set a $41.00 target price on shares of Denali Therapeutics in a report on Monday, June 22nd. Leerink Partners lowered 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. JPMorgan Chase & Co. started coverage on Denali Therapeutics in a research report on Monday, July 13th. They issued an "overweight" rating and a $29.00 price target for the company. Deutsche Bank Aktiengesellschaft boosted their price objective on Denali Therapeutics from $31.00 to $35.00 and gave the stock a "buy" rating in a research note on Thursday, July 16th. Finally, Wedbush restated an "outperform" rating and set a $26.00 price objective on shares of Denali Therapeutics in a research report on Monday, July 13th. Thirteen analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $35.17.

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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