Denali Therapeutics Inc. (NASDAQ:DNLI) Shares Sold by Profund Advisors LLC

Profund Advisors LLC cut its stake in Denali Therapeutics Inc. (NASDAQ:DNLI) by 57.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,373 shares of the company’s stock after selling 39,101 shares during the period. Profund Advisors LLC’s holdings in Denali Therapeutics were worth $682,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the stock. EP Wealth Advisors LLC acquired a new stake in shares of Denali Therapeutics in the 1st quarter valued at about $831,000. Edmond DE Rothschild Holding S.A. lifted its holdings in Denali Therapeutics by 65.9% during the 4th quarter. Edmond DE Rothschild Holding S.A. now owns 165,680 shares of the company’s stock worth $3,555,000 after buying an additional 65,800 shares during the last quarter. Edgestream Partners L.P. acquired a new position in shares of Denali Therapeutics in the 1st quarter worth approximately $2,301,000. Susquehanna Fundamental Investments LLC bought a new stake in shares of Denali Therapeutics in the 1st quarter valued at approximately $4,330,000. Finally, Swiss National Bank raised its position in shares of Denali Therapeutics by 0.7% during the 1st quarter. Swiss National Bank now owns 218,200 shares of the company’s stock valued at $4,477,000 after acquiring an additional 1,500 shares in the last quarter. 92.92% of the stock is currently owned by institutional investors.

Insider Activity at Denali Therapeutics

In other Denali Therapeutics news, Director Steve E. Krognes sold 30,000 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The stock was 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 in the company, valued at $761,016.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 7.90% of the company’s stock.

Denali Therapeutics Stock Performance

NASDAQ:DNLI opened at $30.32 on Wednesday. Denali Therapeutics Inc. has a 1 year low of $14.56 and a 1 year high of $32.13. The business has a fifty day moving average of $25.01 and a 200-day moving average of $21.63. The stock has a market cap of $4.32 billion, a price-to-earnings ratio of -31.58 and a beta of 1.37.

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

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. HC Wainwright reiterated a “buy” rating and set a $90.00 target price on shares of Denali Therapeutics in a research note on Wednesday, September 4th. Bank of America boosted their price objective on shares of Denali Therapeutics from $25.00 to $29.00 and gave the company a “buy” rating in a research report on Wednesday, September 4th. Wedbush cut their target price on shares of Denali Therapeutics from $30.00 to $26.00 and set an “outperform” rating on the stock in a report on Friday, August 2nd. Citigroup upped their target price on Denali Therapeutics from $26.00 to $32.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Finally, JPMorgan Chase & Co. raised 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. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $38.33.

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.