Yiheng Capital Management L.P. Has $6.39 Million Holdings in Denali Therapeutics Inc. $DNLI

Key Points

• Yiheng Capital Management L.P. reduced its holdings in Denali Therapeutics by 32.9% in Q1, now owning 469,981 shares valued at approximately $6.39 million, marking it as the 12th largest position in their portfolio.
• Shares of Denali Therapeutics saw a 4.3% increase in trading, opening at $15.43, despite recent earnings reporting a loss of ($0.72) per share, slightly better than analyst expectations.
• Investors remain optimistic, with three analysts rating it as a Strong Buy while the stock has a consensus rating of "Buy" and an average price target of $33.62.

Yiheng Capital Management L.P. trimmed its stake in Denali Therapeutics Inc. (NASDAQ:DNLI - Free Report) by 32.9% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 469,981 shares of the company's stock after selling 230,117 shares during the period. Denali Therapeutics accounts for about 0.6% of Yiheng Capital Management L.P.'s investment portfolio, making the stock its 12th largest position. Yiheng Capital Management L.P. owned approximately 0.32% of Denali Therapeutics worth $6,389,000 as of its most recent filing with the SEC.

A number of other large investors have also recently added to or reduced their stakes in the stock. Wellington Management Group LLP raised its position in shares of Denali Therapeutics by 15.9% in the first quarter. Wellington Management Group LLP now owns 11,409,598 shares of the company's stock valued at $155,113,000 after purchasing an additional 1,561,647 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in Denali Therapeutics by 42.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,367,234 shares of the company's stock worth $59,373,000 after acquiring an additional 1,308,619 shares during the period. Millennium Management LLC raised its holdings in Denali Therapeutics by 269.4% in the 1st quarter. Millennium Management LLC now owns 1,493,068 shares of the company's stock worth $20,298,000 after acquiring an additional 1,088,844 shares during the period. Northern Trust Corp lifted its position in Denali Therapeutics by 10.7% during the 4th quarter. Northern Trust Corp now owns 1,201,518 shares of the company's stock worth $24,487,000 after acquiring an additional 115,876 shares during the last quarter. Finally, Candriam S.C.A. boosted its holdings in Denali Therapeutics by 3.0% during the first quarter. Candriam S.C.A. now owns 858,162 shares of the company's stock valued at $11,667,000 after acquiring an additional 25,185 shares during the period. Institutional investors own 92.92% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on DNLI. TD Cowen upgraded Denali Therapeutics to a "strong-buy" rating in a research note on Monday, July 28th. Bank of America cut their price target on Denali Therapeutics from $28.00 to $27.00 and set a "buy" rating for the company in a report on Monday, May 19th. Cantor Fitzgerald restated an "overweight" rating on shares of Denali Therapeutics in a research note on Monday. Finally, Morgan Stanley dropped their target price on shares of Denali Therapeutics from $33.00 to $30.00 and set an "overweight" rating on the stock in a research report on Monday, August 18th. Three investment 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 company's stock. According to data from MarketBeat, the stock has an average rating of "Buy" and an average target price of $33.50.

Denali Therapeutics Stock Down 4.7%

NASDAQ DNLI traded down $0.72 on Wednesday, reaching $14.64. The company's stock had a trading volume of 1,672,597 shares, compared to its average volume of 1,956,278. Denali Therapeutics Inc. has a 52 week low of $10.57 and a 52 week high of $33.33. The company has a debt-to-equity ratio of 0.01, a quick ratio of 10.27 and a current ratio of 10.27. The business has a 50-day moving average price of $14.60 and a 200 day moving average price of $14.52.

Denali Therapeutics (NASDAQ:DNLI - Get Free Report) last announced 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 posted ($0.59) EPS. Sell-side analysts expect that Denali Therapeutics Inc. will post -2.71 EPS for the current year.

Insider Buying and Selling

In other Denali Therapeutics news, CEO Ryan J. Watts sold 495,282 shares of Denali Therapeutics stock in a transaction on Wednesday, July 9th. The stock was sold at an average price of $15.00, for a total transaction of $7,429,230.00. Following the completion of 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 legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Carole Ho sold 2,937 shares of the business's stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $13.58, for a total transaction of $39,884.46. Following the completion of the sale, the insider owned 217,391 shares in the company, valued at $2,952,169.78. This represents a 1.33% decrease in their position. The disclosure for this sale can be found here. Insiders sold 501,962 shares of company stock worth $7,520,799 in the last 90 days. 12.50% of the stock is owned by company insiders.

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.