First Trust Advisors LP Has $1.33 Million Stock Position in Denali Therapeutics Inc. (NASDAQ:DNLI)

First Trust Advisors LP boosted its stake in shares of Denali Therapeutics Inc. (NASDAQ:DNLI - Free Report) by 260.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 65,442 shares of the company's stock after purchasing an additional 47,308 shares during the quarter. First Trust Advisors LP's holdings in Denali Therapeutics were worth $1,334,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Sterling Capital Management LLC boosted its holdings in shares of Denali Therapeutics by 589.9% during the fourth quarter. Sterling Capital Management LLC now owns 1,773 shares of the company's stock valued at $36,000 after acquiring an additional 1,516 shares during the period. PNC Financial Services Group Inc. boosted its holdings in shares of Denali Therapeutics by 30.5% during the fourth quarter. PNC Financial Services Group Inc. now owns 3,790 shares of the company's stock valued at $77,000 after acquiring an additional 885 shares during the period. KBC Group NV boosted its holdings in shares of Denali Therapeutics by 75.8% during the fourth quarter. KBC Group NV now owns 6,334 shares of the company's stock valued at $129,000 after acquiring an additional 2,731 shares during the period. AlphaQuest LLC boosted its holdings in shares of Denali Therapeutics by 177.1% during the fourth quarter. AlphaQuest LLC now owns 6,961 shares of the company's stock valued at $142,000 after acquiring an additional 4,449 shares during the period. Finally, E Fund Management Co. Ltd. boosted its holdings in shares of Denali Therapeutics by 32.2% during the fourth quarter. E Fund Management Co. Ltd. now owns 9,997 shares of the company's stock valued at $204,000 after acquiring an additional 2,436 shares during the period. Institutional investors and hedge funds own 92.92% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on DNLI. B. Riley reissued a "buy" rating and set a $35.00 price target (down previously from $38.00) on shares of Denali Therapeutics in a report on Wednesday, March 5th. HC Wainwright reduced their price target on Denali Therapeutics from $80.00 to $32.00 and set a "buy" rating for the company in a research report on Wednesday, May 7th. Bank of America reduced their price target on Denali Therapeutics from $30.00 to $28.00 and set a "buy" rating for the company in a research report on Monday, March 10th. The Goldman Sachs Group reduced their price target on Denali Therapeutics from $45.00 to $40.00 and set a "buy" rating for the company in a research report on Tuesday, January 28th. Finally, William Blair upgraded Denali Therapeutics to a "strong-buy" rating in a research report on Thursday, April 24th. One research 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. Based on data from MarketBeat, the stock has a consensus rating of "Buy" and an average price target of $33.79.

Denali Therapeutics Price Performance

DNLI traded up $0.77 on Monday, hitting $15.14. The company had a trading volume of 80,491 shares, compared to its average volume of 1,088,438. The stock has a market cap of $2.20 billion, a price-to-earnings ratio of -5.49 and a beta of 1.49. The company's fifty day moving average price is $14.27 and its 200 day moving average price is $19.99. Denali Therapeutics Inc. has a 1-year low of $10.57 and a 1-year high of $33.33.

Denali Therapeutics (NASDAQ:DNLI - Get Free Report) last released its 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 business earned ($0.68) earnings per share. On average, sell-side analysts forecast that Denali Therapeutics Inc. will post -2.71 EPS for the current year.

Denali Therapeutics Company 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.