Fisher Asset Management LLC Invests $59,000 in Denali Therapeutics Inc. (NASDAQ:DNLI)

Fisher Asset Management LLC acquired a new position in shares of Denali Therapeutics Inc. (NASDAQ:DNLI) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 2,733 shares of the company’s stock, valued at approximately $59,000.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. CWM LLC lifted its position in Denali Therapeutics by 216.7% during the fourth quarter. CWM LLC now owns 2,011 shares of the company’s stock valued at $43,000 after purchasing an additional 1,376 shares during the period. Assetmark Inc. lifted its position in Denali Therapeutics by 65.3% during the fourth quarter. Assetmark Inc. now owns 3,550 shares of the company’s stock valued at $76,000 after purchasing an additional 1,402 shares during the period. Brandywine Managers LLC acquired a new position in Denali Therapeutics during the fourth quarter valued at $206,000. Quest Partners LLC acquired a new position in Denali Therapeutics during the fourth quarter valued at $214,000. Finally, Victory Capital Management Inc. lifted its position in Denali Therapeutics by 27.0% during the fourth quarter. Victory Capital Management Inc. now owns 15,348 shares of the company’s stock valued at $329,000 after purchasing an additional 3,267 shares during the period. 92.92% of the stock is currently owned by institutional investors and hedge funds.

Denali Therapeutics Trading Down 1.7 %

Shares of NASDAQ DNLI opened at $22.00 on Thursday. Denali Therapeutics Inc. has a 12-month low of $14.56 and a 12-month high of $30.79. The stock has a market cap of $3.14 billion, a PE ratio of -22.92 and a beta of 1.37. The company has a 50-day moving average of $19.18 and a 200 day moving average of $19.24.

Denali Therapeutics (NASDAQ:DNLI) last announced its quarterly earnings data on Tuesday, May 7th. The company reported ($0.68) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.69) by $0.01. Denali Therapeutics had a negative net margin of 36.51% and a negative return on equity of 11.46%. During the same quarter in the previous year, the firm posted ($0.80) earnings per share. On average, sell-side analysts forecast that Denali Therapeutics Inc. will post -2.78 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on DNLI. UBS Group decreased their target price on shares of Denali Therapeutics from $70.00 to $32.00 and set a “buy” rating for the company in a research report on Tuesday, April 9th. Wedbush cut their price objective on shares of Denali Therapeutics from $31.00 to $30.00 and set an “outperform” rating for the company in a report on Wednesday, May 8th. Stifel Nicolaus cut their price objective on shares of Denali Therapeutics from $26.00 to $22.00 and set a “hold” rating for the company in a report on Wednesday, May 8th. The Goldman Sachs Group cut their price objective on shares of Denali Therapeutics from $73.00 to $50.00 and set a “buy” rating for the company in a report on Thursday, February 29th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $95.00 price objective on shares of Denali Therapeutics in a report on Wednesday, May 8th. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $40.22.

Insider Activity at Denali Therapeutics

In related news, Director Jennifer E. Cook sold 1,458 shares of the company’s stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $21.73, for a total transaction of $31,682.34. Following the completion of the sale, the director now owns 20,038 shares of the company’s stock, valued at approximately $435,425.74. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Denali Therapeutics news, Director Steve E. Krognes sold 92,500 shares of the business’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $20.50, for a total value of $1,896,250.00. Following the transaction, the director now directly owns 47,341 shares in the company, valued at approximately $970,490.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jennifer E. Cook sold 1,458 shares of the business’s stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $21.73, for a total transaction of $31,682.34. Following the completion of the transaction, the director now owns 20,038 shares in the company, valued at $435,425.74. The disclosure for this sale can be found here. In the last quarter, insiders sold 95,624 shares of company stock valued at $1,958,403. Corporate insiders own 7.90% of the company’s stock.

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.