Denali Therapeutics Inc. (NASDAQ:DNLI) Shares Acquired by Y Intercept Hong Kong Ltd

Key Points

• Y Intercept Hong Kong Ltd increased its stake in Denali Therapeutics Inc. by 52.2%, bringing its total holdings to 54,813 shares, valued at approximately $745,000.
• Denali Therapeutics has seen several institutional investors adjust their positions recently, with Vanguard Group Inc. increasing its stake to over 12 million shares valued at nearly $245 million.
• Denali's stock received mixed analyst ratings, with an average target price dropping to $33.71 and a high of $32.00 suggested by one firm, indicating varying levels of confidence in the company's future performance.

Y Intercept Hong Kong Ltd increased its holdings in shares of Denali Therapeutics Inc. (NASDAQ:DNLI - Free Report) by 52.2% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 54,813 shares of the company's stock after purchasing an additional 18,807 shares during the period. Y Intercept Hong Kong Ltd's holdings in Denali Therapeutics were worth $745,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. KLP Kapitalforvaltning AS bought a new position in shares of Denali Therapeutics during the fourth quarter valued at approximately $532,000. SG Americas Securities LLC lifted its position in Denali Therapeutics by 339.6% during the first quarter. SG Americas Securities LLC now owns 48,365 shares of the company's stock valued at $658,000 after acquiring an additional 37,362 shares during the last quarter. Vanguard Group Inc. lifted its position in Denali Therapeutics by 7.6% during the fourth quarter. Vanguard Group Inc. now owns 12,021,230 shares of the company's stock valued at $244,993,000 after acquiring an additional 843,996 shares during the last quarter. Norges Bank purchased a new stake in Denali Therapeutics during the fourth quarter valued at approximately $21,717,000. Finally, Teacher Retirement System of Texas lifted its position in Denali Therapeutics by 18.6% during the fourth quarter. Teacher Retirement System of Texas now owns 38,178 shares of the company's stock valued at $778,000 after acquiring an additional 5,987 shares during the last quarter. 92.92% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on DNLI shares. Bank of America decreased their target price on shares of Denali Therapeutics from $28.00 to $27.00 and set a "buy" rating for the company in a research report on Monday, May 19th. HC Wainwright decreased their target price on shares of Denali Therapeutics from $80.00 to $32.00 and set a "buy" rating for the company in a research report on Wednesday, May 7th. William Blair raised shares of Denali Therapeutics to a "strong-buy" rating in a research report on Thursday, April 24th. Cantor Fitzgerald raised shares of Denali Therapeutics from a "neutral" rating to an "overweight" rating in a research report on Thursday, April 10th. Finally, Robert W. Baird lowered their target price on shares of Denali Therapeutics from $30.00 to $29.00 and set an "outperform" rating for the company in a research note on Thursday, May 8th. One analyst has rated the stock with a hold rating, fourteen have given a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat, Denali Therapeutics currently has an average rating of "Buy" and an average target price of $33.71.

Denali Therapeutics Stock Performance

Denali Therapeutics stock traded up $0.06 during trading on Wednesday, reaching $13.67. The company had a trading volume of 2,060,562 shares, compared to its average volume of 1,299,081. The firm's 50-day simple moving average is $14.20 and its 200 day simple moving average is $16.03. Denali Therapeutics Inc. has a 1-year low of $10.57 and a 1-year high of $33.33. The firm has a market capitalization of $1.99 billion, a PE ratio of -5.12 and a beta of 1.33.

Denali Therapeutics (NASDAQ:DNLI - Get Free Report) last announced 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 business posted ($0.68) EPS. Analysts anticipate that Denali Therapeutics Inc. will post -2.71 EPS for the current year.

Insider Activity

In other news, CEO Ryan J. Watts sold 495,282 shares of the stock in a transaction dated Wednesday, July 9th. The shares were sold at an average price of $15.00, for a total value of $7,429,230.00. Following the completion of the sale, the chief executive officer directly owned 253,071 shares in the company, valued at $3,796,065. This represents a 66.18% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 12.50% of the stock is owned by insiders.

Denali Therapeutics 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.