ADAR1 Capital Management LLC Sells 30,953 Shares of Denali Therapeutics Inc. $DNLI

Key Points

• ADAR1 Capital Management LLC sold 30,953 shares of Denali Therapeutics Inc. in Q1 2023, reducing its holdings by 69.1% to 13,873 shares, valued at approximately $189,000.
• Insider sales included Carole Ho and Alexander O. Schuth, each selling 2,937 shares at an average price of $13.58, leading to a decrease in their ownership by about 1.33% and 1.20% respectively.
• Denali Therapeutics' stock price opened at $15.45, with a market cap of $2.26 billion and earnings per share reported at ($0.72), surpassing analyst expectations.

ADAR1 Capital Management LLC cut its holdings in Denali Therapeutics Inc. (NASDAQ:DNLI - Free Report) by 69.1% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 13,873 shares of the company's stock after selling 30,953 shares during the quarter. ADAR1 Capital Management LLC's holdings in Denali Therapeutics were worth $189,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. SG Americas Securities LLC lifted its stake in shares of Denali Therapeutics by 339.6% in the first quarter. SG Americas Securities LLC now owns 48,365 shares of the company's stock worth $658,000 after acquiring an additional 37,362 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Denali Therapeutics by 4.2% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 85,075 shares of the company's stock worth $1,733,000 after acquiring an additional 3,411 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in Denali Therapeutics in the first quarter worth approximately $254,000. GAMMA Investing LLC increased its holdings in Denali Therapeutics by 253.8% in the first quarter. GAMMA Investing LLC now owns 7,953 shares of the company's stock worth $108,000 after purchasing an additional 5,705 shares in the last quarter. Finally, Trexquant Investment LP increased its holdings in Denali Therapeutics by 86.7% in the first quarter. Trexquant Investment LP now owns 113,224 shares of the company's stock worth $1,539,000 after purchasing an additional 52,568 shares in the last quarter. 92.92% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on DNLI shares. Morgan Stanley lowered their target price on Denali Therapeutics from $33.00 to $30.00 and set an "overweight" rating for the company in a report on Monday, August 18th. Bank of America lowered their target price on Denali Therapeutics from $28.00 to $27.00 and set a "buy" rating for the company in a report on Monday, May 19th. Finally, TD Cowen upgraded Denali Therapeutics to a "strong-buy" rating in a report on Monday, July 28th. Three equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus target price of $33.62.

Denali Therapeutics Stock Up 4.3%

Denali Therapeutics stock traded up $0.64 during trading on Friday, hitting $15.43. 4,188,340 shares of the company were exchanged, compared to its average volume of 1,835,296. The business's 50 day moving average is $14.55 and its 200 day moving average is $14.60. Denali Therapeutics Inc. has a 52 week low of $10.57 and a 52 week high of $33.33. The company has a market capitalization of $2.26 billion, a P/E ratio of -5.51 and a beta of 1.23. 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 (NASDAQ:DNLI - Get Free Report) last announced its quarterly earnings results on Monday, August 11th. The company reported ($0.72) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.74) by $0.02. During the same period in the prior year, the company posted ($0.59) EPS. Analysts predict that Denali Therapeutics Inc. will post -2.71 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Carole Ho sold 2,937 shares of the stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $13.58, for a total transaction of $39,884.46. Following the sale, the insider owned 217,391 shares of the company's stock, valued at approximately $2,952,169.78. This represents a 1.33% decrease in their position. 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 stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $13.58, for a total value of $39,884.46. Following the sale, the insider directly owned 242,346 shares in the company, valued at $3,291,058.68. This trade represents a 1.20% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 501,962 shares of company stock valued at $7,520,799. Insiders own 12.50% of the company's stock.

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.