HighTower Advisors LLC Sells 587 Shares of Denali Therapeutics Inc. (NASDAQ:DNLI)

HighTower Advisors LLC lowered its position in shares of Denali Therapeutics Inc. (NASDAQ:DNLI) by 1.5% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 37,327 shares of the company’s stock after selling 587 shares during the quarter. HighTower Advisors LLC’s holdings in Denali Therapeutics were worth $1,089,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Holocene Advisors LP grew its holdings in shares of Denali Therapeutics by 65.0% in the 3rd quarter. Holocene Advisors LP now owns 97,447 shares of the company’s stock valued at $2,839,000 after acquiring an additional 38,405 shares in the last quarter. Cinctive Capital Management LP boosted its position in Denali Therapeutics by 32.7% during the third quarter. Cinctive Capital Management LP now owns 149,094 shares of the company’s stock valued at $4,343,000 after purchasing an additional 36,771 shares during the last quarter. Erste Asset Management GmbH bought a new position in Denali Therapeutics in the third quarter valued at approximately $792,000. Bellevue Group AG acquired a new position in shares of Denali Therapeutics during the 3rd quarter worth approximately $457,000. Finally, Fred Alger Management LLC raised its stake in shares of Denali Therapeutics by 349.1% during the 3rd quarter. Fred Alger Management LLC now owns 121,316 shares of the company’s stock worth $3,534,000 after purchasing an additional 94,302 shares in the last quarter. 92.92% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms recently weighed in on DNLI. HC Wainwright restated a “buy” rating and set a $90.00 target price on shares of Denali Therapeutics in a report on Thursday, November 7th. Stifel Nicolaus raised shares of Denali Therapeutics from a “hold” rating to a “buy” rating and set a $37.00 price objective for the company in a research report on Monday. Jefferies Financial Group upped their target price on shares of Denali Therapeutics from $40.00 to $45.00 and gave the company a “buy” rating in a report on Friday, November 1st. Cantor Fitzgerald cut Denali Therapeutics from an “overweight” rating to a “neutral” rating in a report on Monday, October 7th. Finally, Raymond James restated a “market perform” rating on shares of Denali Therapeutics in a research note on Thursday, October 10th. Two equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $40.40.

Denali Therapeutics Trading Down 0.3 %

NASDAQ:DNLI opened at $23.22 on Wednesday. The stock has a 50 day simple moving average of $26.21 and a 200 day simple moving average of $24.88. The stock has a market cap of $3.34 billion, a P/E ratio of -8.41 and a beta of 1.35. Denali Therapeutics Inc. has a 1-year low of $14.56 and a 1-year high of $33.33.

Denali Therapeutics (NASDAQ:DNLI) last posted its quarterly earnings data on Wednesday, November 6th. The company reported ($0.63) earnings per share for the quarter, missing the consensus estimate of ($0.60) by ($0.03). During the same period in the previous year, the company posted ($0.72) earnings per share. As a group, sell-side analysts forecast that Denali Therapeutics Inc. will post -2.71 EPS for the current year.

Insider Buying and Selling

In other news, Director Vicki L. Sato sold 1,020 shares of Denali Therapeutics stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $30.00, for a total value of $30,600.00. Following the transaction, the director now owns 111,056 shares in the company, valued at approximately $3,331,680. This trade represents a 0.91 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Alexander O. Schuth sold 15,558 shares of the firm’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $29.91, for a total value of $465,339.78. Following the completion of the sale, the insider now directly owns 178,066 shares in the company, valued at $5,325,954.06. This trade represents a 8.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 86,578 shares of company stock valued at $2,474,440. 7.90% of the stock is owned by company insiders.

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.