Polar Asset Management Partners Inc. Acquires 509,992 Shares of Denali Therapeutics Inc. (NASDAQ:DNLI)

Polar Asset Management Partners Inc. lifted its stake in shares of Denali Therapeutics Inc. (NASDAQ:DNLI - Free Report) by 1,240.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 551,092 shares of the company's stock after buying an additional 509,992 shares during the period. Polar Asset Management Partners Inc. owned about 0.38% of Denali Therapeutics worth $11,231,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in DNLI. Norges Bank bought a new position in Denali Therapeutics during the fourth quarter valued at $21,717,000. Vanguard Group Inc. increased 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 period. Balyasny Asset Management L.P. boosted its holdings in Denali Therapeutics by 822.4% in the 4th quarter. Balyasny Asset Management L.P. now owns 416,074 shares of the company's stock valued at $8,480,000 after purchasing an additional 370,966 shares during the period. Millennium Management LLC grew its position in Denali Therapeutics by 571.8% during the fourth quarter. Millennium Management LLC now owns 404,224 shares of the company's stock worth $8,238,000 after buying an additional 344,056 shares in the last quarter. Finally, Stempoint Capital LP lifted its position in Denali Therapeutics by 107.2% during the fourth quarter. Stempoint Capital LP now owns 584,328 shares of the company's stock valued at $11,909,000 after purchasing an additional 302,278 shares during the last quarter. Hedge funds and other institutional investors own 92.92% of the company's stock.

Denali Therapeutics Trading Down 2.9%

Shares of NASDAQ:DNLI traded down $0.40 during midday trading on Friday, hitting $13.15. 420,863 shares of the stock were exchanged, compared to its average volume of 1,109,526. Denali Therapeutics Inc. has a twelve month low of $10.57 and a twelve month high of $33.33. The stock has a market cap of $1.91 billion, a P/E ratio of -4.76 and a beta of 1.49. The company has a 50 day moving average price of $13.86 and a 200-day moving average price of $18.71.

Denali Therapeutics (NASDAQ:DNLI - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The company reported ($0.78) EPS for the quarter, missing analysts' consensus estimates of ($0.71) by ($0.07). During the same quarter in the previous year, the firm earned ($0.68) earnings per share. On average, equities research analysts expect that Denali Therapeutics Inc. will post -2.71 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on DNLI. Wedbush dropped their target price on Denali Therapeutics from $32.00 to $30.00 and set an "outperform" rating for the company in a research report on Wednesday, May 7th. Cantor Fitzgerald upgraded shares of Denali Therapeutics from a "neutral" rating to an "overweight" rating in a research report on Thursday, April 10th. Morgan Stanley assumed coverage on Denali Therapeutics in a report on Friday, March 7th. They issued an "overweight" rating and a $33.00 price objective on the stock. William Blair raised shares of Denali Therapeutics to a "strong-buy" rating in a research report on Thursday, April 24th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on Denali Therapeutics in a research report on Tuesday, February 11th. They set a "buy" rating and a $31.00 price objective on the stock. 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, the stock presently has a consensus rating of "Buy" and a consensus 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.