Polar Asset Management Partners Inc. Has $285,000 Stock Holdings in Denali Therapeutics Inc. $DNLI

Key Points

• Polar Asset Management Partners Inc. significantly reduced its holdings in Denali Therapeutics Inc. by 96.2%, now owning only 20,952 shares after selling 530,140 shares, valuing their investment at approximately $285,000.
• Institutional investors collectively hold 92.92% of Denali Therapeutics' stock, indicating strong institutional support despite changes in individual fund positions.
• The stock recently opened at $15.43 and reported a quarterly earnings per share of ($0.72), which exceeded analysts' expectations.

Polar Asset Management Partners Inc. lessened its stake in Denali Therapeutics Inc. (NASDAQ:DNLI - Free Report) by 96.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 20,952 shares of the company's stock after selling 530,140 shares during the period. Polar Asset Management Partners Inc.'s holdings in Denali Therapeutics were worth $285,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Caitong International Asset Management Co. Ltd raised its position in Denali Therapeutics by 277.0% in the first quarter. Caitong International Asset Management Co. Ltd now owns 2,111 shares of the company's stock worth $29,000 after purchasing an additional 1,551 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S acquired a new position in Denali Therapeutics in the first quarter worth about $41,000. GF Fund Management CO. LTD. acquired a new position in Denali Therapeutics in the fourth quarter worth about $62,000. Point72 Hong Kong Ltd acquired a new position in Denali Therapeutics in the fourth quarter worth about $65,000. Finally, GAMMA Investing LLC raised its position in Denali Therapeutics by 253.8% in the first quarter. GAMMA Investing LLC now owns 7,953 shares of the company's stock worth $108,000 after purchasing an additional 5,705 shares in the last quarter. Institutional investors own 92.92% of the company's stock.

Denali Therapeutics Price Performance

Shares of Denali Therapeutics stock traded down $0.27 during midday trading on Friday, reaching $14.55. The company had a trading volume of 739,836 shares, compared to its average volume of 1,475,889. The company has a current ratio of 10.27, a quick ratio of 10.27 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $2.13 billion, a price-to-earnings ratio of -5.20 and a beta of 1.23. The stock has a fifty day simple moving average of $14.60 and a 200 day simple moving average of $14.48. Denali Therapeutics Inc. has a 1-year low of $10.57 and a 1-year high of $33.33.

Denali Therapeutics (NASDAQ:DNLI - Get Free Report) last issued its quarterly earnings results on Monday, August 11th. The company reported ($0.72) earnings per share for the quarter, beating analysts' consensus estimates of ($0.74) by $0.02. During the same quarter last year, the business posted ($0.59) earnings per share. As a group, equities research analysts forecast that Denali Therapeutics Inc. will post -2.71 earnings per share for the current year.

Insiders Place Their Bets

In other Denali Therapeutics 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 completion of the sale, the chief executive officer owned 253,071 shares of the company's stock, valued at approximately $3,796,065. The trade was a 66.18% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Alexander O. Schuth sold 2,937 shares of Denali Therapeutics stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $13.58, for a total transaction of $39,884.46. Following the sale, the insider directly owned 242,346 shares of the company's stock, valued at $3,291,058.68. This represents a 1.20% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 501,962 shares of company stock valued at $7,520,799. Company insiders own 12.50% of the company's stock.

Analysts Set New Price Targets

Several research firms recently issued reports on DNLI. TD Cowen raised shares of Denali Therapeutics to a "strong-buy" rating in a research report 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 report on Monday, August 18th. Bank of America dropped their price target 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, Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Denali Therapeutics in a report on Monday. Three analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat.com, Denali Therapeutics currently has a consensus rating of "Buy" and an average target price of $33.50.

Denali Therapeutics Company 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.