Rafferty Asset Management LLC Buys 23,629 Shares of Denali Therapeutics Inc. (NASDAQ:DNLI)

Rafferty Asset Management LLC increased its stake in Denali Therapeutics Inc. (NASDAQ:DNLI - Free Report) by 20.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 141,310 shares of the company's stock after buying an additional 23,629 shares during the quarter. Rafferty Asset Management LLC owned about 0.10% of Denali Therapeutics worth $2,880,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the stock. Vanguard Group Inc. lifted its position in Denali Therapeutics by 7.6% in the fourth quarter. Vanguard Group Inc. now owns 12,021,230 shares of the company's stock worth $244,993,000 after buying an additional 843,996 shares during the last quarter. FMR LLC increased its stake in Denali Therapeutics by 2.4% in the fourth quarter. FMR LLC now owns 8,019,746 shares of the company's stock worth $163,442,000 after purchasing an additional 188,368 shares during the period. Alliancebernstein L.P. increased its stake in Denali Therapeutics by 8.8% in the fourth quarter. Alliancebernstein L.P. now owns 3,315,642 shares of the company's stock worth $67,573,000 after purchasing an additional 268,378 shares during the period. Price T Rowe Associates Inc. MD increased its stake in Denali Therapeutics by 6.6% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,058,615 shares of the company's stock worth $62,335,000 after purchasing an additional 188,820 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in Denali Therapeutics by 19.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,855,036 shares of the company's stock worth $37,805,000 after purchasing an additional 295,594 shares during the period. 92.92% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts have weighed in on the company. B. Riley reiterated a "buy" rating and issued a $35.00 target price (down previously from $38.00) on shares of Denali Therapeutics in a research note on Wednesday, March 5th. Morgan Stanley assumed coverage on Denali Therapeutics in a research note on Friday, March 7th. They issued an "overweight" rating and a $33.00 target price on the stock. Bank of America reduced their target price on Denali Therapeutics from $28.00 to $27.00 and set a "buy" rating on the stock in a research note on Monday. HC Wainwright reduced their target price on Denali Therapeutics from $80.00 to $32.00 and set a "buy" rating on the stock in a research note on Wednesday, May 7th. Finally, William Blair upgraded Denali Therapeutics to a "strong-buy" rating in a research note on Thursday, April 24th. One equities research analyst has rated the stock with a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of "Buy" and a consensus price target of $33.71.

Denali Therapeutics Price Performance

Shares of DNLI stock opened at $13.91 on Tuesday. Denali Therapeutics Inc. has a 1-year low of $10.57 and a 1-year high of $33.33. The stock's 50-day moving average is $14.07 and its 200 day moving average is $19.46. The company has a market cap of $2.02 billion, a P/E ratio of -5.04 and a beta of 1.49.

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

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.

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