State of New Jersey Common Pension Fund D Trims Stake in Denali Therapeutics Inc. (NASDAQ:DNLI)

State of New Jersey Common Pension Fund D reduced its holdings in shares of Denali Therapeutics Inc. (NASDAQ:DNLI) by 37.5% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 103,096 shares of the company’s stock after selling 61,979 shares during the period. State of New Jersey Common Pension Fund D owned about 0.07% of Denali Therapeutics worth $2,394,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. PNC Financial Services Group Inc. increased its holdings in Denali Therapeutics by 48.1% during the fourth quarter. PNC Financial Services Group Inc. now owns 2,486 shares of the company’s stock valued at $53,000 after buying an additional 807 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Denali Therapeutics by 5.5% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 26,403 shares of the company’s stock valued at $613,000 after buying an additional 1,372 shares during the last quarter. Assetmark Inc. increased its holdings 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 last quarter. Swiss National Bank increased its holdings in Denali Therapeutics by 0.7% during the first quarter. Swiss National Bank now owns 218,200 shares of the company’s stock valued at $4,477,000 after buying an additional 1,500 shares during the last quarter. Finally, GAMMA Investing LLC increased 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 valued at $48,000 after buying an additional 1,847 shares during the last quarter. 92.92% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Denali Therapeutics news, Director Steve E. Krognes sold 30,000 shares of Denali Therapeutics 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 completion of the transaction, the director now directly owns 34,404 shares of the company’s stock, valued at approximately $761,016.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 7.90% of the company’s stock.

Denali Therapeutics Stock Performance

DNLI opened at $31.05 on Friday. The stock has a market capitalization of $4.43 billion, a price-to-earnings ratio of -32.34 and a beta of 1.37. The company has a fifty day moving average of $24.59 and a 200 day moving average of $21.41. Denali Therapeutics Inc. has a fifty-two week low of $14.56 and a fifty-two week high of $32.13.

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

Analysts Set New Price Targets

DNLI has been the subject of a number of research reports. HC Wainwright reaffirmed a “buy” rating and set a $90.00 target price on shares of Denali Therapeutics in a report on Wednesday, September 4th. Wedbush reduced their price objective on shares of Denali Therapeutics from $30.00 to $26.00 and set an “outperform” rating for the company in a research note on Friday, August 2nd. Bank of America increased their price objective on shares of Denali Therapeutics from $25.00 to $29.00 and gave the stock a “buy” rating in a research note on Wednesday, September 4th. JPMorgan Chase & Co. increased their price objective on shares of Denali Therapeutics from $28.00 to $29.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 10th. Finally, Citigroup increased their price objective on shares of Denali Therapeutics from $26.00 to $32.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $38.33.

Denali Therapeutics 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.