Denali Therapeutics Inc. (NASDAQ:DNLI) Shares Sold by DekaBank Deutsche Girozentrale

DekaBank Deutsche Girozentrale reduced its stake in shares of Denali Therapeutics Inc. (NASDAQ:DNLI) by 6.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 59,800 shares of the company’s stock after selling 4,410 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in Denali Therapeutics were worth $1,370,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of DNLI. Capital Research Global Investors boosted its holdings in Denali Therapeutics by 107.9% during the first quarter. Capital Research Global Investors now owns 6,049,957 shares of the company’s stock worth $124,145,000 after buying an additional 3,140,429 shares in the last quarter. Norges Bank acquired a new stake in shares of Denali Therapeutics during the 4th quarter valued at about $24,736,000. Baker BROS. Advisors LP increased its stake in shares of Denali Therapeutics by 43.1% in the 1st quarter. Baker BROS. Advisors LP now owns 3,731,695 shares of the company’s stock valued at $76,574,000 after purchasing an additional 1,124,499 shares in the last quarter. Braidwell LP acquired a new position in Denali Therapeutics in the 4th quarter worth about $9,910,000. Finally, Candriam S.C.A. boosted its position in Denali Therapeutics by 62.2% during the second quarter. Candriam S.C.A. now owns 726,499 shares of the company’s stock worth $16,869,000 after purchasing an additional 278,621 shares in the last quarter. Hedge funds and other institutional investors own 92.92% of the company’s stock.

Analysts Set New Price Targets

DNLI has been the topic of a number of research analyst reports. Citigroup lifted their price target on shares of Denali Therapeutics from $26.00 to $32.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Bank of America lifted their price objective on Denali Therapeutics from $25.00 to $29.00 and gave the stock a “buy” rating in a report on Wednesday, September 4th. HC Wainwright reissued a “buy” rating and set a $90.00 target price on shares of Denali Therapeutics in a report on Wednesday, September 4th. Wedbush cut their price objective on shares of Denali Therapeutics from $30.00 to $26.00 and set an “outperform” rating for the company in a report on Friday, August 2nd. Finally, JPMorgan Chase & Co. raised their target price on Denali Therapeutics from $28.00 to $29.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 10th. One analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, Denali Therapeutics currently has an average rating of “Moderate Buy” and a consensus target price of $38.33.

Denali Therapeutics Trading Up 0.9 %

Shares of NASDAQ:DNLI opened at $31.05 on Friday. The firm has a 50 day simple moving average of $24.59 and a 200-day simple moving average of $21.41. Denali Therapeutics Inc. has a twelve month low of $14.56 and a twelve month high of $32.13. The company has a market capitalization of $4.43 billion, a PE ratio of -32.34 and a beta of 1.37.

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

Insider Activity at Denali Therapeutics

In other news, Director Steve E. Krognes sold 30,000 shares of the company’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $22.12, for a total value of $663,600.00. Following the completion of the sale, the director now directly owns 34,404 shares of the company’s stock, valued at $761,016.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 7.90% 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.