Two Sigma Investments LP Boosts Stake in Denali Therapeutics Inc. (NASDAQ:DNLI)

Two Sigma Investments LP grew its position in Denali Therapeutics Inc. (NASDAQ:DNLI - Free Report) by 80.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 179,884 shares of the company's stock after buying an additional 80,417 shares during the quarter. Two Sigma Investments LP owned 0.12% of Denali Therapeutics worth $3,666,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of DNLI. Norges Bank acquired a new stake in shares of Denali Therapeutics in the fourth quarter valued at $21,717,000. Vanguard Group Inc. grew its stake in Denali Therapeutics by 7.6% during the 4th quarter. Vanguard Group Inc. now owns 12,021,230 shares of the company's stock worth $244,993,000 after purchasing an additional 843,996 shares in the last quarter. Polar Asset Management Partners Inc. grew its stake in Denali Therapeutics by 1,240.9% during the 4th quarter. Polar Asset Management Partners Inc. now owns 551,092 shares of the company's stock worth $11,231,000 after purchasing an additional 509,992 shares in the last quarter. Balyasny Asset Management L.P. grew its stake in Denali Therapeutics by 822.4% during the 4th quarter. Balyasny Asset Management L.P. now owns 416,074 shares of the company's stock worth $8,480,000 after purchasing an additional 370,966 shares in the last quarter. Finally, Millennium Management LLC grew its stake in Denali Therapeutics by 571.8% during the 4th quarter. Millennium Management LLC now owns 404,224 shares of the company's stock worth $8,238,000 after purchasing an additional 344,056 shares in the last quarter. 92.92% of the stock is owned by institutional investors and hedge funds.

Denali Therapeutics Trading Down 2.7%

Shares of Denali Therapeutics stock traded down $0.36 on Friday, hitting $13.18. The stock had a trading volume of 1,205,593 shares, compared to its average volume of 1,112,901. Denali Therapeutics Inc. has a 52-week low of $10.57 and a 52-week high of $33.33. The stock has a market cap of $1.91 billion, a price-to-earnings ratio of -4.78 and a beta of 1.49. The company's 50 day moving average price is $13.84 and its 200 day moving average price is $18.60.

Denali Therapeutics (NASDAQ:DNLI - Get Free Report) last posted its earnings results on Tuesday, May 6th. The company reported ($0.78) earnings per share for the quarter, missing the consensus estimate of ($0.71) by ($0.07). During the same quarter last year, the firm earned ($0.68) earnings per share. Analysts predict that Denali Therapeutics Inc. will post -2.71 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts recently commented on DNLI shares. Robert W. Baird lowered their target price on Denali Therapeutics from $30.00 to $29.00 and set an "outperform" rating for the company in a research note on Thursday, May 8th. Bank of America lowered their target price on Denali Therapeutics from $28.00 to $27.00 and set a "buy" rating for the company in a research note on Monday, May 19th. Deutsche Bank Aktiengesellschaft started coverage on Denali Therapeutics in a research note on Tuesday, February 11th. They set a "buy" rating and a $31.00 target price for the company. William Blair raised Denali Therapeutics to a "strong-buy" rating in a research note on Thursday, April 24th. Finally, Wedbush lowered their target price on Denali Therapeutics from $32.00 to $30.00 and set an "outperform" rating for the company in a research note on Wednesday, May 7th. One equities research analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company 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.