Point72 Asset Management L.P. lifted its stake in Denali Therapeutics Inc. (NASDAQ:DNLI - Free Report) by 64.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 548,739 shares of the company's stock after purchasing an additional 215,209 shares during the period. Point72 Asset Management L.P. owned about 0.38% of Denali Therapeutics worth $11,183,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of DNLI. Sterling Capital Management LLC lifted its holdings in Denali Therapeutics by 589.9% during the 4th quarter. Sterling Capital Management LLC now owns 1,773 shares of the company's stock worth $36,000 after buying an additional 1,516 shares during the last quarter. Point72 Hong Kong Ltd purchased a new stake in Denali Therapeutics during the 4th quarter worth about $65,000. PNC Financial Services Group Inc. lifted its holdings in Denali Therapeutics by 30.5% during the 4th quarter. PNC Financial Services Group Inc. now owns 3,790 shares of the company's stock worth $77,000 after buying an additional 885 shares during the last quarter. KBC Group NV lifted its holdings in Denali Therapeutics by 75.8% during the 4th quarter. KBC Group NV now owns 6,334 shares of the company's stock worth $129,000 after buying an additional 2,731 shares during the last quarter. Finally, AlphaQuest LLC lifted its holdings in Denali Therapeutics by 177.1% during the 4th quarter. AlphaQuest LLC now owns 6,961 shares of the company's stock worth $142,000 after buying an additional 4,449 shares during the last quarter. 92.92% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
A number of analysts have issued reports on the company. Morgan Stanley assumed coverage on Denali Therapeutics in a report on Friday, March 7th. They set an "overweight" rating and a $33.00 price target for the company. Robert W. Baird decreased their price target on Denali Therapeutics from $30.00 to $29.00 and set an "outperform" rating for the company in a report on Thursday, May 8th. B. Riley reaffirmed a "buy" rating and set a $35.00 price target (down from $38.00) on shares of Denali Therapeutics in a report on Wednesday, March 5th. Bank of America reduced their target price on Denali Therapeutics from $28.00 to $27.00 and set a "buy" rating for the company in a report on Monday, May 19th. Finally, HC Wainwright reduced their target price on Denali Therapeutics from $80.00 to $32.00 and set a "buy" rating for the company in a report 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 stock. According to MarketBeat.com, the company presently has an average rating of "Buy" and an average target price of $33.71.
Check Out Our Latest Stock Report on Denali Therapeutics
Denali Therapeutics Stock Down 1.8%
DNLI stock traded down $0.24 during trading on Friday, hitting $13.42. The company had a trading volume of 786,274 shares, compared to its average volume of 1,100,099. The firm has a market cap of $1.95 billion, a PE ratio of -4.86 and a beta of 1.49. Denali Therapeutics Inc. has a 1-year low of $10.57 and a 1-year high of $33.33. The firm has a 50-day moving average price of $13.97 and a 200-day moving average price of $19.12.
Denali Therapeutics (NASDAQ:DNLI - Get Free Report) last issued its quarterly earnings results 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 quarter in the previous year, the business posted ($0.68) earnings per share. Sell-side analysts anticipate that Denali Therapeutics Inc. will post -2.71 earnings per share for the current year.
About Denali Therapeutics
(
Free Report)
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.
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