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

Key Points

• Graham Capital Management L.P. has increased its stake in Denali Therapeutics by 107.7%, now holding 43,005 shares valued at approximately $585,000.
• Several institutional investors have made significant investments in Denali Therapeutics, with Caitong International increasing its stake by 277% and GAMMA Investing LLC by 253.8%.
• Denali Therapeutics received a consensus rating of "Buy" from analysts, with a price target of $33.62, while recent share prices show a 4.3% increase.

Graham Capital Management L.P. lifted its stake in shares of Denali Therapeutics Inc. (NASDAQ:DNLI - Free Report) by 107.7% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 43,005 shares of the company's stock after buying an additional 22,299 shares during the quarter. Graham Capital Management L.P.'s holdings in Denali Therapeutics were worth $585,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also made changes to their positions in DNLI. Wellington Management Group LLP increased its stake in shares of Denali Therapeutics by 15.9% during 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 in the last quarter. Price T Rowe Associates Inc. MD grew its position in shares of Denali Therapeutics by 42.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,367,234 shares of the company's stock valued at $59,373,000 after acquiring an additional 1,308,619 shares during the period. Polar Asset Management Partners Inc. grew its position in shares of Denali Therapeutics by 1,240.9% during the 4th quarter. Polar Asset Management Partners Inc. now owns 551,092 shares of the company's stock valued at $11,231,000 after acquiring an additional 509,992 shares during the period. Balyasny Asset Management L.P. grew its position in shares of Denali Therapeutics by 822.4% during the 4th quarter. Balyasny Asset Management L.P. now owns 416,074 shares of the company's stock valued at $8,480,000 after acquiring an additional 370,966 shares during the period. Finally, Aberdeen Group plc boosted its position in shares of Denali Therapeutics by 88.9% in the first quarter. Aberdeen Group plc now owns 759,815 shares of the company's stock worth $10,330,000 after purchasing an additional 357,533 shares during the period. Institutional investors own 92.92% of the company's stock.

Insider Activity

In other news, 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 value of $7,429,230.00. Following the completion of the sale, the chief executive officer directly owned 253,071 shares in the company, valued at $3,796,065. This represents a 66.18% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Alexander O. Schuth 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 completion of the sale, the insider owned 242,346 shares of the company's stock, valued at $3,291,058.68. This trade represents a 1.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 501,962 shares of company stock worth $7,520,799 over the last three months. Insiders own 12.50% of the company's stock.

Analysts Set New Price Targets

A number of research firms have weighed in on DNLI. Bank of America dropped their price target on shares of Denali Therapeutics from $28.00 to $27.00 and set a "buy" rating for the company in a research report on Monday, May 19th. TD Cowen upgraded Denali Therapeutics to a "strong-buy" rating in a research note on Monday, July 28th. Morgan Stanley dropped their price target on Denali Therapeutics from $33.00 to $30.00 and set an "overweight" rating for the company in a research note on Monday, August 18th. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Denali Therapeutics in a research note on Monday. Three research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus target price of $33.50.

Denali Therapeutics Price Performance

Shares of DNLI traded down $0.58 during mid-day trading on Wednesday, hitting $14.79. 980,482 shares of the company were exchanged, compared to its average volume of 1,475,832. Denali Therapeutics Inc. has a 1-year low of $10.57 and a 1-year 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 company has a 50 day moving average of $14.61 and a 200-day moving average of $14.52. The stock has a market cap of $2.16 billion, a price-to-earnings ratio of -5.28 and a beta of 1.23.

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

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.