Denali Therapeutics Inc. $DNLI Shares Acquired by Defilade Capital Management L.P.

Key Points

• Defilade Capital Management more than doubled its Denali Therapeutics stake in the first quarter, adding 703,256 shares to own 1.36 million shares valued at approximately $26.1 million, or 0.86% of DNLI.
• Several other major institutions also increased their positions, including ADAR1 Capital, Goldman Sachs, Temasek and T. Rowe Price; institutional investors collectively own 92.92% of the company.
• Denali reported a quarterly loss of $0.69 per share, beating estimates of a $0.73 loss. Analysts maintain a “Moderate Buy” consensus with an average price target of $35.17, compared with the stock’s reported price of $23.02.

Defilade Capital Management L.P. grew its stake in Denali Therapeutics Inc. (NASDAQ:DNLI - Free Report) by 107.1% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,359,969 shares of the company's stock after purchasing an additional 703,256 shares during the period. Denali Therapeutics makes up about 3.7% of Defilade Capital Management L.P.'s holdings, making the stock its 12th largest holding. Defilade Capital Management L.P. owned approximately 0.86% of Denali Therapeutics worth $26,111,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in DNLI. Norges Bank purchased a new stake in Denali Therapeutics in the 4th quarter valued at $84,525,000. ADAR1 Capital Management LLC grew its holdings in shares of Denali Therapeutics by 3,490.9% in the first quarter. ADAR1 Capital Management LLC now owns 1,871,455 shares of the company's stock valued at $35,932,000 after purchasing an additional 1,819,339 shares during the period. Goldman Sachs Group Inc. increased its position in Denali Therapeutics by 77.3% during the fourth quarter. Goldman Sachs Group Inc. now owns 3,835,803 shares of the company's stock worth $63,329,000 after purchasing an additional 1,672,098 shares during the last quarter. Temasek Holdings Private Ltd increased its position in Denali Therapeutics by 30.9% during the fourth quarter. Temasek Holdings Private Ltd now owns 7,012,974 shares of the company's stock worth $115,784,000 after purchasing an additional 1,657,142 shares during the last quarter. Finally, T. Rowe Price Investment Management Inc. raised its stake in Denali Therapeutics by 28.7% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 7,254,132 shares of the company's stock worth $119,766,000 after purchasing an additional 1,615,565 shares during the period. Hedge funds and other institutional investors own 92.92% of the company's stock.

Denali Therapeutics Stock Performance

Shares of DNLI stock opened at $23.02 on Monday. Denali Therapeutics Inc. has a 1-year low of $12.58 and a 1-year high of $27.30. The firm has a market cap of $3.65 billion, a PE ratio of -7.99 and a beta of 1.01. The company has a 50-day moving average of $23.12 and a two-hundred day moving average of $21.09. The company has a debt-to-equity ratio of 0.01, a current ratio of 9.28 and a quick ratio of 9.28.

Denali Therapeutics (NASDAQ:DNLI - Get Free Report) last released its quarterly earnings results on Thursday, May 7th. The company reported ($0.69) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.73) by $0.04. During the same quarter in the previous year, the company earned ($0.78) earnings per share. On average, analysts predict that Denali Therapeutics Inc. will post -2.73 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. JPMorgan Chase & Co. assumed coverage on shares of Denali Therapeutics in a report on Monday, July 13th. They set an "overweight" rating and a $29.00 price target for the company. Sanford C. Bernstein reiterated a "hold" rating on shares of Denali Therapeutics in a report on Monday, June 22nd. Deutsche Bank Aktiengesellschaft increased their price objective on Denali Therapeutics from $31.00 to $35.00 and gave the stock a "buy" rating in a research report on Thursday, July 16th. Weiss Ratings reissued a "sell (d-)" rating on shares of Denali Therapeutics in a research note on Friday, July 17th. Finally, Wedbush restated an "outperform" rating and issued a $26.00 target price on shares of Denali Therapeutics in a research report on Monday, July 13th. Thirteen equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $35.17.

About Denali Therapeutics

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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