Millennium Management LLC Acquires 344,056 Shares of Denali Therapeutics Inc. (NASDAQ:DNLI)

Millennium Management LLC lifted its position in Denali Therapeutics Inc. (NASDAQ:DNLI - Free Report) by 571.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 404,224 shares of the company's stock after acquiring an additional 344,056 shares during the period. Millennium Management LLC owned approximately 0.28% of Denali Therapeutics worth $8,238,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of DNLI. Rhumbline Advisers raised its stake in Denali Therapeutics by 0.3% in the fourth quarter. Rhumbline Advisers now owns 190,390 shares of the company's stock valued at $3,880,000 after buying an additional 497 shares during the period. PNC Financial Services Group Inc. grew its position in shares of Denali Therapeutics by 30.5% in the 4th quarter. PNC Financial Services Group Inc. now owns 3,790 shares of the company's stock valued at $77,000 after buying an additional 885 shares during the last quarter. Sterling Capital Management LLC raised its position in shares of Denali Therapeutics by 589.9% in the 4th quarter. Sterling Capital Management LLC now owns 1,773 shares of the company's stock worth $36,000 after acquiring an additional 1,516 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in Denali Therapeutics by 0.8% in the fourth quarter. The Manufacturers Life Insurance Company now owns 208,521 shares of the company's stock worth $4,250,000 after purchasing an additional 1,702 shares during the period. Finally, E Fund Management Co. Ltd. lifted its holdings in shares of Denali Therapeutics by 32.2% in the 4th quarter. E Fund Management Co. Ltd. now owns 9,997 shares of the company's stock worth $204,000 after purchasing an additional 2,436 shares in the last quarter. Institutional investors own 92.92% of the company's stock.

Denali Therapeutics Trading Down 2.5%

Shares of NASDAQ:DNLI traded down $0.34 during midday trading on Friday, hitting $13.20. 198,635 shares of the stock were exchanged, compared to its average volume of 1,275,522. The company has a 50 day moving average price of $13.86 and a 200-day moving average price of $18.71. The stock has a market cap of $1.92 billion, a P/E ratio of -4.78 and a beta of 1.49. Denali Therapeutics Inc. has a twelve month low of $10.57 and a twelve month high of $33.33.

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 (EPS) for the quarter, missing the consensus estimate of ($0.71) by ($0.07). During the same period in the prior year, the business earned ($0.68) EPS. On average, equities research analysts expect that Denali Therapeutics Inc. will post -2.71 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts have issued reports on DNLI shares. Bank of America decreased their target price on Denali Therapeutics from $28.00 to $27.00 and set a "buy" rating for the company in a research report on Monday, May 19th. Oppenheimer dropped their price target on Denali Therapeutics from $50.00 to $42.00 and set an "outperform" rating for the company in a research note on Monday, March 3rd. Cantor Fitzgerald raised shares of Denali Therapeutics from a "neutral" rating to an "overweight" rating in a research report on Thursday, April 10th. William Blair upgraded shares of Denali Therapeutics to a "strong-buy" rating in a report on Thursday, April 24th. Finally, Wedbush dropped their price target on Denali Therapeutics from $32.00 to $30.00 and set an "outperform" rating on the stock in a research note on Wednesday, May 7th. One investment analyst has rated the stock with a hold rating, fourteen have given a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Buy" and an average target price of $33.71.

About Denali Therapeutics

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.