Rafferty Asset Management LLC Raises Holdings in Denali Therapeutics Inc. (NASDAQ:DNLI)

Rafferty Asset Management LLC lifted its holdings in shares of Denali Therapeutics Inc. (NASDAQ:DNLI - Free Report) by 20.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 141,310 shares of the company's stock after acquiring an additional 23,629 shares during the quarter. Rafferty Asset Management LLC owned 0.10% of Denali Therapeutics worth $2,880,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Sterling Capital Management LLC increased its position in shares of Denali Therapeutics by 589.9% during the fourth quarter. Sterling Capital Management LLC now owns 1,773 shares of the company's stock valued at $36,000 after acquiring an additional 1,516 shares during the last quarter. Point72 Hong Kong Ltd purchased a new stake in shares of Denali Therapeutics during the fourth quarter valued at approximately $65,000. PNC Financial Services Group Inc. increased its position in shares of Denali Therapeutics by 30.5% during the fourth quarter. PNC Financial Services Group Inc. now owns 3,790 shares of the company's stock valued at $77,000 after acquiring an additional 885 shares during the last quarter. KBC Group NV increased its position in shares of Denali Therapeutics by 75.8% during the fourth quarter. KBC Group NV now owns 6,334 shares of the company's stock valued at $129,000 after acquiring an additional 2,731 shares during the last quarter. Finally, AlphaQuest LLC increased its position in shares of Denali Therapeutics by 177.1% during the fourth quarter. AlphaQuest LLC now owns 6,961 shares of the company's stock valued at $142,000 after acquiring an additional 4,449 shares during the last quarter. 92.92% of the stock is owned by hedge funds and other institutional investors.

Denali Therapeutics Stock Down 1.8%

DNLI stock traded down $0.24 during trading on Friday, reaching $13.42. The company's stock had a trading volume of 786,274 shares, compared to its average volume of 1,100,099. Denali Therapeutics Inc. has a 1 year low of $10.57 and a 1 year high of $33.33. The company has a market capitalization of $1.95 billion, a P/E ratio of -4.86 and a beta of 1.49. The company's fifty day moving average is $13.97 and its 200-day moving average is $19.04.

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 analysts' consensus estimates of ($0.71) by ($0.07). During the same period last year, the firm posted ($0.68) earnings per share. Analysts anticipate that Denali Therapeutics Inc. will post -2.71 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages have weighed in on DNLI. Deutsche Bank Aktiengesellschaft began coverage on Denali Therapeutics in a report on Tuesday, February 11th. They set a "buy" rating and a $31.00 price objective for the company. The Goldman Sachs Group reduced their price objective on Denali Therapeutics from $45.00 to $40.00 and set a "buy" rating for the company in a report on Tuesday, January 28th. Bank of America reduced their price objective on Denali Therapeutics from $28.00 to $27.00 and set a "buy" rating for the company in a report on Monday, May 19th. Morgan Stanley began coverage on Denali Therapeutics in a report on Friday, March 7th. They set an "overweight" rating and a $33.00 price objective for the company. Finally, Cantor Fitzgerald raised Denali Therapeutics from a "neutral" rating to an "overweight" rating in a report on Thursday, April 10th. One investment analyst has rated the stock with a hold rating, fourteen have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, Denali Therapeutics currently has a consensus rating of "Buy" and an average price target 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.