Teachers Retirement System of The State of Kentucky Has $2.49 Million Stock Position in Denali Therapeutics Inc. (NASDAQ:DNLI)

Teachers Retirement System of The State of Kentucky lessened its holdings in Denali Therapeutics Inc. (NASDAQ:DNLI - Free Report) by 11.5% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 183,392 shares of the company's stock after selling 23,732 shares during the period. Teachers Retirement System of The State of Kentucky owned about 0.13% of Denali Therapeutics worth $2,494,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in DNLI. Victory Capital Management Inc. grew its position in Denali Therapeutics by 8.1% in the first quarter. Victory Capital Management Inc. now owns 41,627 shares of the company's stock worth $566,000 after buying an additional 3,119 shares during the last quarter. DekaBank Deutsche Girozentrale increased its position in Denali Therapeutics by 7.4% during the first quarter. DekaBank Deutsche Girozentrale now owns 64,210 shares of the company's stock worth $935,000 after acquiring an additional 4,410 shares during the period. VELA Investment Management LLC boosted its stake in Denali Therapeutics by 77.6% during the first quarter. VELA Investment Management LLC now owns 27,771 shares of the company's stock worth $378,000 after buying an additional 12,136 shares in the last quarter. SG Americas Securities LLC lifted its position in shares of Denali Therapeutics by 339.6% during the 1st quarter. SG Americas Securities LLC now owns 48,365 shares of the company's stock worth $658,000 after buying an additional 37,362 shares during the period. Finally, Breakwater Capital Group bought a new stake in Denali Therapeutics during the 1st quarter worth approximately $204,000. 92.92% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Robert W. Baird reduced their price target on Denali Therapeutics from $30.00 to $29.00 and set an "outperform" rating on the stock in a research report on Thursday, May 8th. Wedbush reduced their price target on Denali Therapeutics from $32.00 to $30.00 and set an "outperform" rating for the company in a report on Wednesday, May 7th. Bank of America cut their target price on shares of Denali Therapeutics from $28.00 to $27.00 and set a "buy" rating for the company in a research note on Monday, May 19th. Cantor Fitzgerald raised shares of Denali Therapeutics from a "neutral" rating to an "overweight" rating in a research report on Thursday, April 10th. Finally, HC Wainwright reduced their price objective on shares of Denali Therapeutics from $80.00 to $32.00 and set a "buy" rating on the stock in a research note on Wednesday, May 7th. One analyst has rated the stock with a hold rating, fourteen have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus price target of $33.71.

Denali Therapeutics Price Performance

NASDAQ:DNLI traded down $0.16 during trading hours on Thursday, reaching $14.31. 1,311,160 shares of the company traded hands, compared to its average volume of 1,474,903. The firm's 50-day moving average is $14.22 and its 200-day moving average is $16.24. Denali Therapeutics Inc. has a 1-year low of $10.57 and a 1-year high of $33.33. The stock has a market cap of $2.08 billion, a P/E ratio of -5.36 and a beta of 1.33.

Denali Therapeutics (NASDAQ:DNLI - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The company reported ($0.78) earnings per share for the quarter, missing the consensus estimate of ($0.71) by ($0.07). During the same period in the previous year, the business posted ($0.68) EPS. As a group, research analysts predict that Denali Therapeutics Inc. will post -2.71 earnings per share for the current year.

Insider Transactions at Denali Therapeutics

In related 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 sale, the chief executive officer directly owned 253,071 shares of the company's stock, valued at $3,796,065. The trade was a 66.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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.