Woodline Partners LP Acquires New Position in Denali Therapeutics Inc. (NASDAQ:DNLI)

Woodline Partners LP bought a new stake in shares of Denali Therapeutics Inc. (NASDAQ:DNLI - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 100,000 shares of the company's stock, valued at approximately $2,038,000. Woodline Partners LP owned about 0.07% of Denali Therapeutics at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Sterling Capital Management LLC increased its position in shares of Denali Therapeutics by 589.9% during the 4th quarter. Sterling Capital Management LLC now owns 1,773 shares of the company's stock valued at $36,000 after purchasing an additional 1,516 shares during the last quarter. Point72 Hong Kong Ltd purchased a new stake in shares of Denali Therapeutics during the 4th quarter valued at $65,000. PNC Financial Services Group Inc. increased its position in shares of Denali Therapeutics by 30.5% during the 4th quarter. PNC Financial Services Group Inc. now owns 3,790 shares of the company's stock valued at $77,000 after purchasing an additional 885 shares during the last quarter. KBC Group NV increased its position in shares of Denali Therapeutics by 75.8% during the 4th quarter. KBC Group NV now owns 6,334 shares of the company's stock valued at $129,000 after purchasing an additional 2,731 shares during the last quarter. Finally, AlphaQuest LLC increased its position in shares of Denali Therapeutics by 177.1% during the 4th quarter. AlphaQuest LLC now owns 6,961 shares of the company's stock valued at $142,000 after purchasing an additional 4,449 shares during the last quarter. 92.92% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have recently weighed in on DNLI. Robert W. Baird cut their price target 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. Cantor Fitzgerald upgraded Denali Therapeutics from a "neutral" rating to an "overweight" rating in a research note on Thursday, April 10th. Bank of America cut their price target 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. William Blair upgraded Denali Therapeutics to a "strong-buy" rating in a research note on Thursday, April 24th. Finally, Oppenheimer cut 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. One analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, Denali Therapeutics currently has an average rating of "Buy" and a consensus price target of $33.71.

Denali Therapeutics Stock Performance

NASDAQ DNLI traded down $0.31 during trading hours on Friday, hitting $13.23. The company had a trading volume of 234,382 shares, compared to its average volume of 1,108,722. Denali Therapeutics Inc. has a 52 week low of $10.57 and a 52 week high of $33.33. The firm has a 50 day simple moving average of $13.86 and a 200 day simple moving average of $18.71. The firm has a market capitalization of $1.92 billion, a price-to-earnings ratio of -4.79 and a beta of 1.49.

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

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.