Millennium Management LLC Boosts Stock Holdings in Denali Therapeutics Inc. (NASDAQ:DNLI)

Millennium Management LLC raised its holdings in Denali Therapeutics Inc. (NASDAQ:DNLI - Free Report) by 571.8% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 404,224 shares of the company's stock after purchasing an additional 344,056 shares during the quarter. Millennium Management LLC owned 0.28% of Denali Therapeutics worth $8,238,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of DNLI. Vanguard Group Inc. boosted its position in shares of Denali Therapeutics by 7.6% during the fourth quarter. Vanguard Group Inc. now owns 12,021,230 shares of the company's stock valued at $244,993,000 after buying an additional 843,996 shares during the last quarter. FMR LLC lifted its position in shares of Denali Therapeutics by 2.4% during the 4th quarter. FMR LLC now owns 8,019,746 shares of the company's stock worth $163,442,000 after buying an additional 188,368 shares in the last quarter. Alliancebernstein L.P. lifted its position in shares of Denali Therapeutics by 8.8% during the 4th quarter. Alliancebernstein L.P. now owns 3,315,642 shares of the company's stock worth $67,573,000 after buying an additional 268,378 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of Denali Therapeutics by 6.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,058,615 shares of the company's stock worth $62,335,000 after purchasing an additional 188,820 shares during the period. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Denali Therapeutics by 19.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,855,036 shares of the company's stock worth $37,805,000 after purchasing an additional 295,594 shares during the period. Institutional investors and hedge funds own 92.92% of the company's stock.

Wall Street Analysts Forecast Growth

DNLI has been the subject of a number of recent analyst reports. Bank of America reduced 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. Deutsche Bank Aktiengesellschaft started coverage on shares of Denali Therapeutics in a research report on Tuesday, February 11th. They issued a "buy" rating and a $31.00 target price for the company. Cantor Fitzgerald upgraded shares of Denali Therapeutics from a "neutral" rating to an "overweight" rating in a research report on Thursday, April 10th. B. Riley reiterated a "buy" rating and issued a $35.00 target price (down from $38.00) on shares of Denali Therapeutics in a research report on Wednesday, March 5th. Finally, HC Wainwright cut their target price on shares of Denali Therapeutics from $80.00 to $32.00 and set a "buy" rating for the company in a research report on Wednesday, May 7th. One equities research analyst has rated the stock with a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus target price of $33.71.

Denali Therapeutics Stock Up 3.7%

Shares of NASDAQ:DNLI traded up $0.49 during midday trading on Thursday, hitting $13.53. 1,494,102 shares of the stock traded hands, compared to its average volume of 1,104,007. The stock has a market capitalization of $1.96 billion, a PE ratio of -4.92 and a beta of 1.49. The business's 50 day moving average is $13.88 and its two-hundred day moving average is $18.84. Denali Therapeutics Inc. has a one year low of $10.57 and a one year high of $33.33.

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

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.