KLP Kapitalforvaltning AS Makes New Investment in Denali Therapeutics Inc. (NASDAQ:DNLI)

KLP Kapitalforvaltning AS purchased a new position in shares of Denali Therapeutics Inc. (NASDAQ:DNLI) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 26,100 shares of the company’s stock, valued at approximately $532,000.

Several other hedge funds have also made changes to their positions in DNLI. American Century Companies Inc. lifted its position in Denali Therapeutics by 6.5% during the fourth quarter. American Century Companies Inc. now owns 480,529 shares of the company’s stock worth $9,793,000 after buying an additional 29,155 shares during the period. Yiheng Capital Management L.P. lifted its holdings in shares of Denali Therapeutics by 16.7% during the 4th quarter. Yiheng Capital Management L.P. now owns 700,098 shares of the company’s stock worth $14,268,000 after acquiring an additional 100,000 shares during the period. Teacher Retirement System of Texas lifted its holdings in shares of Denali Therapeutics by 18.6% during the 4th quarter. Teacher Retirement System of Texas now owns 38,178 shares of the company’s stock worth $778,000 after acquiring an additional 5,987 shares during the period. Intech Investment Management LLC grew its holdings in Denali Therapeutics by 60.4% in the fourth quarter. Intech Investment Management LLC now owns 47,401 shares of the company’s stock valued at $966,000 after purchasing an additional 17,858 shares during the period. Finally, Cibc World Markets Corp acquired a new position in Denali Therapeutics during the fourth quarter worth approximately $237,000. Institutional investors and hedge funds own 92.92% of the company’s stock.

Denali Therapeutics Price Performance

NASDAQ:DNLI opened at $12.79 on Friday. Denali Therapeutics Inc. has a 1-year low of $12.05 and a 1-year high of $33.33. The stock has a market cap of $1.86 billion, a P/E ratio of -4.63 and a beta of 1.58. The firm has a 50-day moving average of $18.27 and a two-hundred day moving average of $22.84.

Denali Therapeutics (NASDAQ:DNLI) last issued its quarterly earnings results on Thursday, February 27th. The company reported ($0.67) EPS for the quarter, beating analysts’ consensus estimates of ($0.75) by $0.08. As a group, equities analysts expect that Denali Therapeutics Inc. will post -2.71 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Ryan J. Watts sold 29,266 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $20.22, for a total value of $591,758.52. Following the completion of the sale, the chief executive officer now directly owns 260,721 shares in the company, valued at approximately $5,271,778.62. The trade was a 10.09 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 transaction, the director now owns 25,757 shares in the company, valued at $536,003.17. This trade represents a 11.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 44,860 shares of company stock valued at $909,039 in the last ninety days. Corporate insiders own 7.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on DNLI. William Blair reissued an “outperform” rating on shares of Denali Therapeutics in a research note on Friday, February 28th. Morgan Stanley began coverage on Denali Therapeutics in a research report on Friday, March 7th. They set an “overweight” rating and a $33.00 price target for the company. Baird R W upgraded Denali Therapeutics to a “strong-buy” rating in a report on Tuesday, January 7th. Oppenheimer decreased their target price on Denali Therapeutics from $50.00 to $42.00 and set an “outperform” rating for the company in a report on Monday, March 3rd. Finally, Stifel Nicolaus upgraded shares of Denali Therapeutics from a “hold” rating to a “buy” rating and set a $37.00 price target on the stock in a report on Monday, December 16th. Two analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $37.20.

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.