Denali Therapeutics Inc. (NASDAQ:DNLI) Stake Lifted by Victory Capital Management Inc.

Victory Capital Management Inc. boosted its stake in Denali Therapeutics Inc. (NASDAQ:DNLI) by 163.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 39,900 shares of the company’s stock after buying an additional 24,767 shares during the period. Victory Capital Management Inc.’s holdings in Denali Therapeutics were worth $1,162,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. GAMMA Investing LLC increased its holdings in shares of Denali Therapeutics by 879.5% in the 2nd 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. CWM LLC grew its position in Denali Therapeutics by 43.6% in the 3rd quarter. CWM LLC now owns 2,153 shares of the company’s stock worth $63,000 after purchasing an additional 654 shares during the last quarter. Assetmark Inc. increased its stake in shares of Denali Therapeutics by 18.0% in the third quarter. Assetmark Inc. now owns 3,808 shares of the company’s stock valued at $111,000 after purchasing an additional 580 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Denali Therapeutics by 21.6% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,178 shares of the company’s stock valued at $152,000 after buying an additional 920 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Denali Therapeutics during the second quarter valued at approximately $194,000. 92.92% of the stock is currently owned by institutional investors.

Denali Therapeutics Stock Up 0.7 %

NASDAQ:DNLI opened at $24.68 on Wednesday. The stock has a fifty day simple moving average of $27.76 and a 200 day simple moving average of $24.38. The firm has a market capitalization of $3.55 billion, a price-to-earnings ratio of -8.94 and a beta of 1.40. Denali Therapeutics Inc. has a 1-year low of $14.56 and a 1-year high of $33.33.

Denali Therapeutics (NASDAQ:DNLI) last announced its earnings results on Wednesday, November 6th. The company reported ($0.63) EPS for the quarter, missing the consensus estimate of ($0.60) by ($0.03). During the same period in the prior year, the business posted ($0.72) EPS. Equities analysts predict that Denali Therapeutics Inc. will post -2.69 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO Ryan J. Watts sold 40,000 shares of the firm’s stock in a transaction that occurred on Friday, October 18th. The shares were sold at an average price of $27.69, for a total transaction of $1,107,600.00. Following the completion of the sale, the chief executive officer now directly owns 235,807 shares in the company, valued at approximately $6,529,495.83. This trade represents a 14.50 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Alexander O. Schuth sold 15,558 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $29.91, for a total transaction of $465,339.78. Following the transaction, the insider now directly owns 178,066 shares in the company, valued at $5,325,954.06. The trade was a 8.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 86,578 shares of company stock worth $2,474,440. Corporate insiders own 7.90% of the company’s stock.

Wall Street Analyst Weigh In

DNLI has been the topic of several analyst reports. Citigroup raised their target price on Denali Therapeutics from $26.00 to $32.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. HC Wainwright reissued a “buy” rating and set a $90.00 price target on shares of Denali Therapeutics in a report on Thursday, November 7th. Raymond James restated a “market perform” rating on shares of Denali Therapeutics in a research note on Thursday, October 10th. Wedbush decreased their target price on shares of Denali Therapeutics from $30.00 to $26.00 and set an “outperform” rating for the company in a research report on Friday, August 2nd. Finally, Cantor Fitzgerald downgraded shares of Denali Therapeutics from an “overweight” rating to a “neutral” rating in a research report on Monday, October 7th. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, Denali Therapeutics has a consensus rating of “Moderate Buy” and a consensus price target of $38.90.

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.