WINTON GROUP Ltd Decreases Position in Denali Therapeutics Inc. $DNLI

Key Points

• WINTON GROUP Ltd reduced its Denali Therapeutics position by 80.2% in the second quarter, selling 57,079 shares and retaining 14,100 shares valued at approximately $363,000.
• Denali reported a quarterly loss of $0.68 per share, missing analyst expectations of a $0.51 loss, while revenue of $3.60 million exceeded estimates of $2.15 million. The company is expected to post a full-year loss of $2.67 per share.
• Analysts maintain a “Moderate Buy” consensus rating, with an average price target of $35.85 versus the stock’s reported price of $20.06; 13 analysts rate it Buy, two Hold, and one Sell.

WINTON GROUP Ltd decreased its position in Denali Therapeutics Inc. (NASDAQ:DNLI - Free Report) by 80.2% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 14,100 shares of the company's stock after selling 57,079 shares during the period. WINTON GROUP Ltd's holdings in Denali Therapeutics were worth $363,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in shares of Denali Therapeutics during the 2nd quarter worth $26,000. Global Retirement Partners LLC acquired a new stake in Denali Therapeutics in the 2nd quarter valued at about $28,000. Nykredit A S acquired a new stake in Denali Therapeutics in the 2nd quarter valued at about $38,000. Allworth Financial LP purchased a new position in Denali Therapeutics during the 2nd quarter valued at about $47,000. Finally, Fifth Third Bancorp purchased a new position in Denali Therapeutics during the 1st quarter valued at about $55,000. Hedge funds and other institutional investors own 92.92% of the company's stock.

Denali Therapeutics Stock Performance

Shares of DNLI opened at $20.06 on Thursday. Denali Therapeutics Inc. has a 1 year low of $12.58 and a 1 year high of $27.30. The company's 50 day simple moving average is $23.68 and its 200 day simple moving average is $21.89. The company has a market capitalization of $3.21 billion, a price-to-earnings ratio of -7.06 and a beta of 1.01. The company has a debt-to-equity ratio of 0.01, a quick ratio of 8.32 and a current ratio of 8.37.

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

Insider Activity

In other news, insider Alexander O. Schuth sold 2,768 shares of Denali Therapeutics stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $23.44, for a total value of $64,881.92. Following the completion of the sale, the insider owned 278,995 shares of the company's stock, valued at $6,539,642.80. The trade was a 0.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 9.70% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several analysts have issued reports on DNLI shares. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Denali Therapeutics in a report on Friday, July 17th. JPMorgan Chase & Co. began coverage on shares of Denali Therapeutics in a research note on Monday, July 13th. They set an "overweight" rating and a $29.00 price objective for the company. B. Riley Financial lifted their price objective on Denali Therapeutics from $30.00 to $35.00 and gave the stock a "buy" rating in a research report on Tuesday, August 25th. Sanford C. Bernstein reaffirmed a "hold" rating on shares of Denali Therapeutics in a research note on Monday, June 22nd. Finally, Deutsche Bank Aktiengesellschaft increased their target price on Denali Therapeutics from $31.00 to $35.00 and gave the company a "buy" rating in a report on Thursday, July 16th. Thirteen equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Denali Therapeutics currently has an average rating of "Moderate Buy" and an average price target of $35.85.

Denali Therapeutics Profile

Denali Therapeutics Inc is a biotechnology company focused on discovering and developing medicines for patients with neurodegenerative diseases. The company is headquartered in South San Francisco, California, and was founded in 2013 by a team that included Chief Executive Officer Ryan Watts.

Denali's research is built around its blood-brain barrier transport technologies, which are designed to help therapeutic molecules reach the brain. The company applies these technologies to potential treatments for conditions including Parkinson's disease, Alzheimer's disease, amyotrophic lateral sclerosis, lysosomal storage disorders and other neurodegenerative diseases.

Its pipeline has included investigational therapies directed at targets such as LRRK2, TREM2 and RIPK1, as well as enzyme-replacement approaches intended to improve delivery of treatments to the central nervous system.

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