Denali Therapeutics Inc. $DNLI Shares Purchased by Millennium Management LLC

Key Points

• Millennium Management LLC significantly increased its stake in Denali Therapeutics by 269.4% during the first quarter, acquiring over 1 million additional shares and now holding approximately 1.03% of the company valued at $20.3 million.
• The share price of Denali Therapeutics on NASDAQ: DNLI opened at $14.19, with a 52-week range between $10.57 and $33.33, reflecting volatility in the stock's performance.
• Insider transactions included CEO Ryan J. Watts selling over 495,000 shares, reducing his ownership by 66.18%, which raised concerns about insider sentiment amidst fluctuating stock valuations.

Millennium Management LLC lifted its holdings in shares of Denali Therapeutics Inc. (NASDAQ:DNLI - Free Report) by 269.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,493,068 shares of the company's stock after buying an additional 1,088,844 shares during the quarter. Millennium Management LLC owned about 1.03% of Denali Therapeutics worth $20,298,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of DNLI. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Denali Therapeutics by 4.0% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 88,507 shares of the company's stock worth $1,210,000 after acquiring an additional 3,432 shares during the period. Graham Capital Management L.P. increased its holdings in shares of Denali Therapeutics by 107.7% in the 1st quarter. Graham Capital Management L.P. now owns 43,005 shares of the company's stock worth $585,000 after buying an additional 22,299 shares during the last quarter. DAFNA Capital Management LLC bought a new position in shares of Denali Therapeutics during the 1st quarter valued at $1,739,000. Tema Etfs LLC bought a new position in shares of Denali Therapeutics during the 1st quarter valued at $206,000. Finally, Trexquant Investment LP boosted its position in Denali Therapeutics by 86.7% during the 1st quarter. Trexquant Investment LP now owns 113,224 shares of the company's stock valued at $1,539,000 after buying an additional 52,568 shares during the period. 92.92% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Denali Therapeutics news, insider Carole Ho sold 2,937 shares of the stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $13.58, for a total transaction of $39,884.46. Following the transaction, the insider directly owned 217,391 shares in the company, valued at $2,952,169.78. This represents a 1.33% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Ryan J. Watts sold 495,282 shares of the stock in a transaction dated Wednesday, July 9th. The shares were sold at an average price of $15.00, for a total transaction of $7,429,230.00. Following the sale, the chief executive officer directly owned 253,071 shares of the company's stock, valued at approximately $3,796,065. The trade was a 66.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 501,962 shares of company stock worth $7,520,799 in the last three months. Corporate insiders own 12.50% of the company's stock.

Denali Therapeutics Trading Up 0.9%

Shares of NASDAQ DNLI traded up $0.12 during mid-day trading on Thursday, reaching $13.18. The company had a trading volume of 2,119,725 shares, compared to its average volume of 2,067,321. The business's 50-day moving average is $14.47 and its 200-day moving average is $14.33. The company has a current ratio of 10.27, a quick ratio of 10.27 and a debt-to-equity ratio of 0.01. The stock has a market cap of $1.93 billion, a price-to-earnings ratio of -4.71 and a beta of 1.23. Denali Therapeutics Inc. has a 52 week low of $10.57 and a 52 week high of $33.33.

Denali Therapeutics (NASDAQ:DNLI - Get Free Report) last posted its quarterly earnings results on Monday, August 11th. The company reported ($0.72) EPS for the quarter, topping analysts' consensus estimates of ($0.74) by $0.02. During the same quarter in the prior year, the firm earned ($0.59) earnings per share. Equities analysts expect that Denali Therapeutics Inc. will post -2.71 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on DNLI shares. Morgan Stanley lowered their price target on shares of Denali Therapeutics from $33.00 to $30.00 and set an "overweight" rating for the company in a research report on Monday, August 18th. TD Cowen raised shares of Denali Therapeutics to a "strong-buy" rating in a report on Monday, July 28th. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Denali Therapeutics in a report on Monday, September 8th. Three analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Buy" and an average price target of $33.50.

Denali Therapeutics Company 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.