E Fund Management Co. Ltd. Cuts Holdings in Denali Therapeutics Inc. (NASDAQ:DNLI)

E Fund Management Co. Ltd. lowered its position in shares of Denali Therapeutics Inc. (NASDAQ:DNLI) by 55.2% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 9,200 shares of the company’s stock after selling 11,352 shares during the quarter. E Fund Management Co. Ltd.’s holdings in Denali Therapeutics were worth $214,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. GAMMA Investing LLC lifted its holdings in Denali Therapeutics by 879.5% during the second quarter. GAMMA Investing LLC now owns 2,057 shares of the company’s stock worth $48,000 after acquiring an additional 1,847 shares during the period. PNC Financial Services Group Inc. raised its stake in shares of Denali Therapeutics by 48.1% during the 4th quarter. PNC Financial Services Group Inc. now owns 2,486 shares of the company’s stock worth $53,000 after purchasing an additional 807 shares during the period. Fisher Asset Management LLC purchased a new position in shares of Denali Therapeutics in the 4th quarter worth about $59,000. Assetmark Inc. grew 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 buying an additional 1,402 shares during the period. Finally, Headlands Technologies LLC purchased a new stake in Denali Therapeutics during the first quarter worth about $88,000. Hedge funds and other institutional investors own 92.92% of the company’s stock.

Insider Activity

In other news, Director Steve E. Krognes sold 30,000 shares of the company’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $22.12, for a total value of $663,600.00. Following the transaction, the director now owns 34,404 shares of the company’s stock, valued at $761,016.48. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 7.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on DNLI shares. Citigroup increased their target price on shares of Denali Therapeutics from $26.00 to $32.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Bank of America raised their target price on Denali Therapeutics from $25.00 to $29.00 and gave the stock a “buy” rating in a research report on Wednesday, September 4th. JPMorgan Chase & Co. boosted their target price on Denali Therapeutics from $28.00 to $29.00 and gave the company an “overweight” rating in a research note on Wednesday, July 10th. Cantor Fitzgerald reiterated an “overweight” rating and set a $35.00 price target on shares of Denali Therapeutics in a research note on Monday, September 9th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $90.00 price objective on shares of Denali Therapeutics in a report on Wednesday, September 4th. One analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $38.33.

Denali Therapeutics Stock Up 0.9 %

Shares of NASDAQ DNLI opened at $31.05 on Friday. The company has a market cap of $4.43 billion, a P/E ratio of -32.34 and a beta of 1.37. Denali Therapeutics Inc. has a 52 week low of $14.56 and a 52 week high of $32.13. The business has a 50-day simple moving average of $24.59 and a two-hundred day simple moving average of $21.41.

Denali Therapeutics (NASDAQ:DNLI) last released its quarterly earnings data on Thursday, August 1st. The company reported ($0.59) EPS for the quarter, beating analysts’ consensus estimates of ($0.68) by $0.09. The firm had revenue of $1.00 million during the quarter, compared to the consensus estimate of $10.00 million. Denali Therapeutics’s revenue was down 99.7% compared to the same quarter last year. During the same quarter last year, the business posted $1.30 earnings per share. Equities research analysts anticipate that Denali Therapeutics Inc. will post -2.54 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.