Arizona State Retirement System Has $769,000 Position in Denali Therapeutics Inc. (NASDAQ:DNLI)

Arizona State Retirement System raised its stake in Denali Therapeutics Inc. (NASDAQ:DNLI) by 9.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 33,114 shares of the company’s stock after buying an additional 2,730 shares during the period. Arizona State Retirement System’s holdings in Denali Therapeutics were worth $769,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. GAMMA Investing LLC boosted its holdings in Denali Therapeutics by 879.5% in the second quarter. GAMMA Investing LLC now owns 2,057 shares of the company’s stock valued at $48,000 after acquiring an additional 1,847 shares during the last quarter. PNC Financial Services Group Inc. boosted its stake in shares of Denali Therapeutics by 48.1% in the 4th quarter. PNC Financial Services Group Inc. now owns 2,486 shares of the company’s stock valued at $53,000 after purchasing an additional 807 shares during the last quarter. Fisher Asset Management LLC acquired a new stake in shares of Denali Therapeutics during the fourth quarter worth $59,000. Assetmark Inc. increased its position in shares of Denali Therapeutics by 65.3% during the fourth quarter. Assetmark Inc. now owns 3,550 shares of the company’s stock worth $76,000 after buying an additional 1,402 shares during the period. Finally, Headlands Technologies LLC bought a new position in Denali Therapeutics during the first quarter worth $88,000. Institutional investors and hedge funds own 92.92% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on the stock. JPMorgan Chase & Co. increased their price target on Denali Therapeutics from $28.00 to $29.00 and gave the stock an “overweight” rating in a report on Wednesday, July 10th. HC Wainwright reiterated a “buy” rating and issued a $90.00 target price on shares of Denali Therapeutics in a report on Wednesday, September 4th. Bank of America increased their price target on Denali Therapeutics from $25.00 to $29.00 and gave the stock a “buy” rating in a report on Wednesday, September 4th. Wedbush lowered their price objective on shares of Denali Therapeutics from $30.00 to $26.00 and set an “outperform” rating for the company in a research note on Friday, August 2nd. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $35.00 target price on shares of Denali Therapeutics in a research note on Monday, September 9th. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $38.33.

Denali Therapeutics Trading Up 10.1 %

Shares of DNLI stock opened at $30.77 on Friday. The firm has a fifty day simple moving average of $23.87 and a two-hundred day simple moving average of $21.15. Denali Therapeutics Inc. has a 12 month low of $14.56 and a 12 month high of $31.00. The firm has a market capitalization of $4.41 billion, a PE ratio of -32.05 and a beta of 1.37.

Denali Therapeutics (NASDAQ:DNLI) last posted its earnings results on Thursday, August 1st. The company reported ($0.59) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.68) by $0.09. The business had revenue of $1.00 million during the quarter, compared to analyst estimates of $10.00 million. The company’s revenue was down 99.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.30 EPS. On average, equities analysts predict that Denali Therapeutics Inc. will post -2.54 earnings per share for the current fiscal year.

Insider Activity at Denali Therapeutics

In other Denali Therapeutics news, Director Steve E. Krognes sold 30,000 shares of the firm’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $22.12, for a total transaction of $663,600.00. Following the transaction, the director now directly owns 34,404 shares in the company, valued at approximately $761,016.48. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 7.90% of the stock is owned by insiders.

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.