Proficio Capital Partners LLC Makes New $514,000 Investment in Denali Therapeutics Inc. (NASDAQ:DNLI)

Proficio Capital Partners LLC acquired a new stake in Denali Therapeutics Inc. (NASDAQ:DNLI) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 25,210 shares of the company’s stock, valued at approximately $514,000.

Several other large investors also recently made changes to their positions in the stock. Y Intercept Hong Kong Ltd boosted its holdings in shares of Denali Therapeutics by 160.5% in the 4th quarter. Y Intercept Hong Kong Ltd now owns 36,006 shares of the company’s stock valued at $734,000 after buying an additional 22,183 shares during the last quarter. State of New Jersey Common Pension Fund D boosted its holdings in shares of Denali Therapeutics by 11.3% in the 4th quarter. State of New Jersey Common Pension Fund D now owns 86,243 shares of the company’s stock valued at $1,758,000 after buying an additional 8,760 shares during the last quarter. Rhumbline Advisers boosted its holdings in shares of Denali Therapeutics by 0.3% in the 4th quarter. Rhumbline Advisers now owns 190,390 shares of the company’s stock valued at $3,880,000 after buying an additional 497 shares during the last quarter. Empowered Funds LLC acquired a new stake in shares of Denali Therapeutics in the 4th quarter valued at approximately $379,000. Finally, abrdn plc boosted its holdings in shares of Denali Therapeutics by 10.6% in the 4th quarter. abrdn plc now owns 402,282 shares of the company’s stock valued at $8,199,000 after buying an additional 38,603 shares during the last quarter. Institutional investors and hedge funds own 92.92% of the company’s stock.

Denali Therapeutics Price Performance

DNLI stock opened at $16.69 on Monday. The stock has a market capitalization of $2.42 billion, a price-to-earnings ratio of -6.05 and a beta of 1.46. The business’s fifty day moving average price is $20.80 and its two-hundred day moving average price is $24.30. Denali Therapeutics Inc. has a fifty-two week low of $14.01 and a fifty-two week high of $33.33.

Denali Therapeutics (NASDAQ:DNLI) last posted its quarterly earnings data on Thursday, February 27th. The company reported ($0.67) earnings per share for the quarter, topping the consensus estimate of ($0.75) by $0.08. Research analysts expect that Denali Therapeutics Inc. will post -2.71 EPS for the current year.

Insider Buying and Selling

In related news, Director Vicki L. Sato sold 3,080 shares of the firm’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $20.91, for a total value of $64,402.80. Following the transaction, the director now owns 107,976 shares in the company, valued at approximately $2,257,778.16. This trade represents a 2.77 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Steve E. Krognes sold 3,339 shares of the firm’s stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $20.81, for a total value of $69,484.59. Following the completion of the transaction, the director now owns 25,757 shares in the company, valued at $536,003.17. The trade was a 11.48 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 47,940 shares of company stock worth $973,442. Company insiders own 7.90% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. William Blair reissued an “outperform” rating on shares of Denali Therapeutics in a report on Friday, February 28th. Deutsche Bank Aktiengesellschaft initiated coverage on Denali Therapeutics in a research note on Tuesday, February 11th. They issued a “buy” rating and a $31.00 price target on the stock. The Goldman Sachs Group dropped their price target on Denali Therapeutics from $45.00 to $40.00 and set a “buy” rating on the stock in a research note on Tuesday, January 28th. JPMorgan Chase & Co. dropped their price target on Denali Therapeutics from $28.00 to $24.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 7th. Finally, Stifel Nicolaus upgraded Denali Therapeutics from a “hold” rating to a “buy” rating and set a $37.00 price target on the stock in a research note on Monday, December 16th. Two equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $37.27.

About Denali Therapeutics

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.