New York State Common Retirement Fund Lowers Position in Denali Therapeutics Inc. (NASDAQ:DNLI)

New York State Common Retirement Fund decreased its holdings in Denali Therapeutics Inc. (NASDAQ:DNLI - Free Report) by 51.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 70,240 shares of the company's stock after selling 74,484 shares during the period. New York State Common Retirement Fund's holdings in Denali Therapeutics were worth $955,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in DNLI. Norges Bank purchased a new stake in shares of Denali Therapeutics in the 4th quarter valued at approximately $21,717,000. Vanguard Group Inc. grew its stake in shares of Denali Therapeutics by 7.6% in the 4th 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 period. Polar Asset Management Partners Inc. boosted 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 worth $11,231,000 after purchasing an additional 509,992 shares during the period. Balyasny Asset Management L.P. boosted 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 worth $8,480,000 after purchasing an additional 370,966 shares during the period. Finally, Millennium Management LLC boosted its position in shares of Denali Therapeutics by 571.8% during the 4th quarter. Millennium Management LLC now owns 404,224 shares of the company's stock worth $8,238,000 after purchasing an additional 344,056 shares during the period. Hedge funds and other institutional investors own 92.92% of the company's stock.

Insider Buying and Selling

In related news, CEO Ryan J. Watts sold 495,282 shares of Denali Therapeutics stock in a transaction on Wednesday, July 9th. The shares were sold at an average price of $15.00, for a total transaction of $7,429,230.00. Following the sale, the chief executive officer directly owned 253,071 shares in the company, valued at $3,796,065. This trade represents a 66.18% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 12.50% of the stock is owned by corporate insiders.

Denali Therapeutics Trading Down 0.3%

NASDAQ:DNLI traded down $0.04 during midday trading on Monday, hitting $13.63. 1,403,986 shares of the company were exchanged, compared to its average volume of 1,349,646. The company has a fifty day simple moving average of $14.21 and a 200 day simple moving average of $16.04. Denali Therapeutics Inc. has a fifty-two week low of $10.57 and a fifty-two week high of $33.33. The company has a market capitalization of $1.98 billion, a PE ratio of -5.10 and a beta of 1.33.

Denali Therapeutics (NASDAQ:DNLI - Get Free Report) last announced its quarterly earnings results 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 period in the previous year, the business posted ($0.68) EPS. As a group, equities research analysts expect that Denali Therapeutics Inc. will post -2.71 EPS for the current year.

Analysts Set New Price Targets

DNLI has been the subject of a number of research analyst reports. William Blair raised shares of Denali Therapeutics to a "strong-buy" rating in a research report on Thursday, April 24th. Bank of America lowered their price objective 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. Robert W. Baird decreased their price target on shares of Denali Therapeutics from $30.00 to $29.00 and set an "outperform" rating for the company in a research report on Thursday, May 8th. Wedbush decreased their price target on shares of Denali Therapeutics from $32.00 to $30.00 and set an "outperform" rating for the company in a research report on Wednesday, May 7th. Finally, HC Wainwright decreased their price target 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 analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, Denali Therapeutics presently has an average rating of "Buy" and a consensus target price of $33.71.

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.