AlphaQuest LLC Boosts Stake in Denali Therapeutics Inc. $DNLI

Key Points

• AlphaQuest LLC significantly increased its stake in Denali Therapeutics Inc. by 260.0%, now owning 25,060 shares valued at approximately $341,000.
• Several large investors have also expanded their holdings, with institutional investors currently owning 92.92% of the company's stock.
• Wall Street analysts provide a generally positive outlook, with a consensus rating of "Buy" and an average price target of $33.62 for the stock.

AlphaQuest LLC raised its holdings in shares of Denali Therapeutics Inc. (NASDAQ:DNLI - Free Report) by 260.0% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 25,060 shares of the company's stock after purchasing an additional 18,099 shares during the period. AlphaQuest LLC's holdings in Denali Therapeutics were worth $341,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. Price T Rowe Associates Inc. MD increased its position in Denali Therapeutics by 42.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,367,234 shares of the company's stock valued at $59,373,000 after buying an additional 1,308,619 shares in the last quarter. Candriam S.C.A. boosted its holdings in Denali Therapeutics by 3.0% in the first quarter. Candriam S.C.A. now owns 858,162 shares of the company's stock worth $11,667,000 after acquiring an additional 25,185 shares in the last quarter. Groupama Asset Managment grew its stake in shares of Denali Therapeutics by 31.1% in the first quarter. Groupama Asset Managment now owns 144,488 shares of the company's stock worth $2,136,000 after acquiring an additional 34,281 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S bought a new position in shares of Denali Therapeutics during the first quarter valued at $41,000. Finally, Hsbc Holdings PLC increased its holdings in shares of Denali Therapeutics by 73.7% during the first quarter. Hsbc Holdings PLC now owns 58,003 shares of the company's stock valued at $779,000 after acquiring an additional 24,613 shares in the last quarter. 92.92% of the stock is owned by institutional investors.

Denali Therapeutics Stock Performance

DNLI stock traded up $0.18 on Tuesday, hitting $15.45. The company had a trading volume of 5,357,105 shares, compared to its average volume of 1,685,901. The company has a current ratio of 10.27, a quick ratio of 10.27 and a debt-to-equity ratio of 0.01. Denali Therapeutics Inc. has a 12-month low of $10.57 and a 12-month high of $33.33. The stock has a market cap of $2.26 billion, a price-to-earnings ratio of -5.52 and a beta of 1.23. The stock's 50-day simple moving average is $14.50 and its 200 day simple moving average is $14.74.

Denali Therapeutics (NASDAQ:DNLI - Get Free Report) last released its quarterly earnings results on Monday, August 11th. The company reported ($0.72) earnings per share for the quarter, beating the consensus estimate of ($0.74) by $0.02. During the same period in the prior year, the firm earned ($0.59) EPS. As a group, equities research analysts expect that Denali Therapeutics Inc. will post -2.71 earnings per share for the current fiscal year.

Insider Buying and Selling at Denali Therapeutics

In other Denali Therapeutics news, CEO Ryan J. Watts sold 495,282 shares of the firm's stock in a transaction dated Wednesday, July 9th. The stock was sold at an average price of $15.00, for a total value of $7,429,230.00. Following the transaction, the chief executive officer directly owned 253,071 shares of the company's stock, valued at approximately $3,796,065. This trade represents a 66.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Alexander O. Schuth sold 2,937 shares of the business's 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 sale, the insider owned 242,346 shares of the company's stock, valued at approximately $3,291,058.68. This represents a 1.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 501,962 shares of company stock valued at $7,520,799. 12.50% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. TD Cowen upgraded shares of Denali Therapeutics to a "strong-buy" rating in a research note on Monday, July 28th. Bank of America dropped their target price on shares of Denali Therapeutics from $28.00 to $27.00 and set a "buy" rating on the stock in a research note on Monday, May 19th. HC Wainwright reduced their price target on shares of Denali Therapeutics from $80.00 to $32.00 and set a "buy" rating for the company in a research report on Wednesday, May 7th. Morgan Stanley decreased their price objective on shares of Denali Therapeutics from $33.00 to $30.00 and set an "overweight" rating for the company in a report on Monday, August 18th. Finally, Wedbush cut their target price on Denali Therapeutics from $32.00 to $30.00 and set an "outperform" rating on the stock in a research note on Wednesday, May 7th. Three equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of "Buy" and a consensus price target of $33.62.

Denali Therapeutics 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.