Quarry LP Reduces Position in Denali Therapeutics Inc. (NASDAQ:DNLI)

Quarry LP cut its position in Denali Therapeutics Inc. (NASDAQ:DNLI) by 7.1% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,500 shares of the company’s stock after selling 500 shares during the period. Quarry LP’s holdings in Denali Therapeutics were worth $151,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of DNLI. Dimensional Fund Advisors LP increased its position in shares of Denali Therapeutics by 15.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,119,628 shares of the company’s stock valued at $24,030,000 after purchasing an additional 146,394 shares during the last quarter. UBS Group AG increased its position in shares of Denali Therapeutics by 165.3% in the 4th quarter. UBS Group AG now owns 290,985 shares of the company’s stock valued at $6,245,000 after purchasing an additional 181,289 shares during the last quarter. Eagle Asset Management Inc. increased its position in shares of Denali Therapeutics by 9.1% in the 4th quarter. Eagle Asset Management Inc. now owns 315,520 shares of the company’s stock valued at $6,771,000 after purchasing an additional 26,387 shares during the last quarter. Campbell & CO Investment Adviser LLC grew its position in shares of Denali Therapeutics by 277.2% in the 4th quarter. Campbell & CO Investment Adviser LLC now owns 65,105 shares of the company’s stock valued at $1,397,000 after buying an additional 47,847 shares during the last quarter. Finally, Rafferty Asset Management LLC grew its position in shares of Denali Therapeutics by 40.4% in the 4th quarter. Rafferty Asset Management LLC now owns 321,973 shares of the company’s stock valued at $6,910,000 after buying an additional 92,660 shares during the last quarter. 92.92% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently commented on DNLI. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $35.00 target price on shares of Denali Therapeutics in a research report on Monday, September 9th. Bank of America increased their target price 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 dropped their target price on shares of Denali Therapeutics from $30.00 to $26.00 and set an “outperform” rating on the stock in a research report on Friday, August 2nd. Citigroup increased their target price on shares of Denali Therapeutics from $26.00 to $32.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Finally, JPMorgan Chase & Co. increased their target price on shares of Denali Therapeutics from $28.00 to $29.00 and gave the company an “overweight” rating in a research report on Wednesday, July 10th. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, Denali Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus price target of $38.33.

Denali Therapeutics Stock Performance

Shares of Denali Therapeutics stock opened at $29.13 on Tuesday. Denali Therapeutics Inc. has a 1 year low of $14.56 and a 1 year high of $32.13. The company has a market capitalization of $4.15 billion, a P/E ratio of -30.34 and a beta of 1.37. The company’s fifty day moving average is $25.56 and its two-hundred day moving average is $21.87.

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

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.