UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Cuts Position in Denali Therapeutics Inc. $DNLI

Key Points

• UBS Asset Management cut its Denali Therapeutics stake by 28.7% in the second quarter, selling 1.27 million shares and retaining about 1.98% of the company. Institutional investors and hedge funds collectively own 92.92% of DNLI.
• Denali reported a quarterly loss of $0.68 per share, missing estimates by $0.17, while revenue of $3.60 million exceeded expectations. The company has a projected full-year loss of $2.67 per share.
• Analysts remain generally positive, with a consensus “Moderate Buy” rating and an average price target of $35.85, versus the reported share price of $22.85.

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC decreased its holdings in shares of Denali Therapeutics Inc. (NASDAQ:DNLI - Free Report) by 28.7% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,161,972 shares of the company's stock after selling 1,270,342 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 1.98% of Denali Therapeutics worth $81,326,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. BlackRock Inc. acquired a new position in shares of Denali Therapeutics during the second quarter worth $360,759,000. Norges Bank acquired a new stake in Denali Therapeutics during the 4th quarter valued at approximately $84,525,000. ADAR1 Capital Management LLC increased its holdings in Denali Therapeutics by 3,490.9% during the 1st quarter. ADAR1 Capital Management LLC now owns 1,871,455 shares of the company's stock worth $35,932,000 after purchasing an additional 1,819,339 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in Denali Therapeutics by 77.3% during the 4th quarter. Goldman Sachs Group Inc. now owns 3,835,803 shares of the company's stock worth $63,329,000 after purchasing an additional 1,672,098 shares during the last quarter. Finally, Temasek Holdings Private Ltd increased its holdings in Denali Therapeutics by 30.9% during the 4th quarter. Temasek Holdings Private Ltd now owns 7,012,974 shares of the company's stock worth $115,784,000 after purchasing an additional 1,657,142 shares during the last quarter. 92.92% of the stock is owned by institutional investors and hedge funds.

Denali Therapeutics Stock Performance

Shares of NASDAQ DNLI opened at $22.85 on Thursday. The company has a quick ratio of 8.32, a current ratio of 8.37 and a debt-to-equity ratio of 0.01. The firm's 50-day moving average price is $24.54 and its two-hundred day moving average price is $21.80. Denali Therapeutics Inc. has a 52-week low of $12.58 and a 52-week high of $27.30. The stock has a market capitalization of $3.65 billion, a P/E ratio of -8.05 and a beta of 1.01.

Denali Therapeutics (NASDAQ:DNLI - Get Free Report) last issued its earnings results on Thursday, August 6th. The company reported ($0.68) EPS for the quarter, missing analysts' consensus estimates of ($0.51) by ($0.17). The business had revenue of $3.60 million during the quarter, compared to the consensus estimate of $2.15 million. During the same period in the prior year, the firm posted ($0.72) EPS. As a group, sell-side analysts forecast that Denali Therapeutics Inc. will post -2.67 earnings per share for the current year.

Insider Transactions at Denali Therapeutics

In related news, insider Alexander O. Schuth sold 2,857 shares of the company's stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $25.07, for a total transaction of $71,624.99. Following the completion of the transaction, the insider directly owned 281,763 shares in the company, valued at $7,063,798.41. This represents a 1.00% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 9.70% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Morgan Stanley increased their target price on Denali Therapeutics from $35.00 to $36.00 and gave the company an "overweight" rating in a research note on Thursday, July 23rd. Wall Street Zen raised shares of Denali Therapeutics from a "sell" rating to a "hold" rating in a report on Saturday, August 8th. Wedbush reiterated an "outperform" rating and set a $26.00 price objective on shares of Denali Therapeutics in a research note on Monday, July 13th. UBS Group raised their price objective on shares of Denali Therapeutics from $25.00 to $34.00 and gave the stock a "buy" rating in a report on Friday, August 7th. Finally, B. Riley Financial boosted their target price on shares of Denali Therapeutics from $30.00 to $35.00 and gave the stock a "buy" rating in a research report on Tuesday, August 25th. Fourteen analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, Denali Therapeutics presently has a consensus rating of "Moderate Buy" and an average target price of $35.85.

Denali Therapeutics Company Profile

Denali Therapeutics is a clinical‐stage biopharmaceutical company focused on developing therapies for neurodegenerative diseases. The company's research leverages a proprietary Blood–Brain Barrier Transport Vehicle (TV) platform designed to enable large molecules, including antibodies and enzymes, to penetrate the central nervous system. Denali's approach includes small molecules, monoclonal antibodies and gene therapy candidates aimed at key drivers of disorders such as Alzheimer's disease, Parkinson's disease, amyotrophic lateral sclerosis (ALS) and frontotemporal dementia.

Among Denali's lead programs is an orally delivered leucine‐rich repeat kinase 2 (LRRK2) inhibitor for Parkinson's disease, and an anti‐TREM2 antibody designed to modulate microglial activity in Alzheimer's patients.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.