Twinbeech Capital LP Purchases New Position in Denali Therapeutics Inc. (NASDAQ:DNLI)

Twinbeech Capital LP acquired a new position in Denali Therapeutics Inc. (NASDAQ:DNLI - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 254,586 shares of the company's stock, valued at approximately $5,188,000. Twinbeech Capital LP owned approximately 0.18% of Denali Therapeutics at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Barclays PLC grew its stake in shares of Denali Therapeutics by 101.4% during the third quarter. Barclays PLC now owns 255,883 shares of the company's stock valued at $7,454,000 after buying an additional 128,823 shares during the last quarter. SG Americas Securities LLC boosted its stake in shares of Denali Therapeutics by 128.8% during the fourth quarter. SG Americas Securities LLC now owns 11,003 shares of the company's stock valued at $224,000 after purchasing an additional 6,195 shares during the period. KBC Group NV increased its stake in shares of Denali Therapeutics by 75.8% in the fourth 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 period. China Universal Asset Management Co. Ltd. boosted its position in Denali Therapeutics by 10.8% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 30,517 shares of the company's stock valued at $622,000 after buying an additional 2,982 shares during the period. Finally, abrdn plc grew its stake in shares of Denali Therapeutics by 10.6% in the fourth quarter. abrdn plc now owns 402,282 shares of the company's stock worth $8,199,000 after purchasing an additional 38,603 shares during the last quarter. 92.92% of the stock is owned by hedge funds and other institutional investors.

Denali Therapeutics Stock Performance

Shares of NASDAQ:DNLI traded down $0.24 during midday trading on Monday, reaching $13.42. 786,274 shares of the company's stock traded hands, compared to its average volume of 1,100,099. Denali Therapeutics Inc. has a one year low of $10.57 and a one year high of $33.33. The company has a market cap of $1.95 billion, a price-to-earnings ratio of -4.86 and a beta of 1.49. The stock has a 50 day moving average of $13.97 and a 200 day moving average of $19.04.

Denali Therapeutics (NASDAQ:DNLI - Get Free Report) last posted its 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 last year, the company posted ($0.68) EPS. Sell-side analysts predict that Denali Therapeutics Inc. will post -2.71 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have weighed in on DNLI. Wedbush dropped their price objective on Denali Therapeutics from $32.00 to $30.00 and set an "outperform" rating for the company in a report on Wednesday, May 7th. Oppenheimer dropped their price target on Denali Therapeutics from $50.00 to $42.00 and set an "outperform" rating for the company in a research note on Monday, March 3rd. B. Riley reiterated a "buy" rating and issued a $35.00 price target (down previously from $38.00) on shares of Denali Therapeutics in a report on Wednesday, March 5th. Robert W. Baird decreased their price objective on shares of Denali Therapeutics from $30.00 to $29.00 and set an "outperform" rating for the company in a report on Thursday, May 8th. Finally, The Goldman Sachs Group dropped their target price on shares of Denali Therapeutics from $45.00 to $40.00 and set a "buy" rating for the company in a research report on Tuesday, January 28th. One investment analyst has rated the stock with a hold rating, fourteen have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus target price of $33.71.

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.