Corton Capital Inc. acquired a new position in shares of Denali Therapeutics Inc. (NASDAQ:DNLI – Get Rating) in the second quarter, according to its most recent disclosure with the SEC. The firm acquired 15,973 shares of the company's stock, valued at approximately $470,000.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Strs Ohio grew its position in Denali Therapeutics by 9.1% during the second quarter. Strs Ohio now owns 33,700 shares of the company's stock worth $991,000 after buying an additional 2,800 shares during the period. Pier 88 Investment Partners LLC boosted its position in Denali Therapeutics by 130,700.0% during the second quarter. Pier 88 Investment Partners LLC now owns 13,080 shares of the company's stock worth $385,000 after purchasing an additional 13,070 shares in the last quarter. Nisa Investment Advisors LLC grew its holdings in Denali Therapeutics by 581.0% in the second quarter. Nisa Investment Advisors LLC now owns 17,816 shares of the company's stock valued at $524,000 after purchasing an additional 15,200 shares during the last quarter. Swiss National Bank increased its position in shares of Denali Therapeutics by 8.1% in the first quarter. Swiss National Bank now owns 187,700 shares of the company's stock valued at $6,038,000 after buying an additional 14,000 shares in the last quarter. Finally, Eagle Asset Management Inc. raised its stake in shares of Denali Therapeutics by 29.4% during the 2nd quarter. Eagle Asset Management Inc. now owns 263,704 shares of the company's stock worth $7,760,000 after buying an additional 59,854 shares during the last quarter. 74.56% of the stock is currently owned by hedge funds and other institutional investors.
Get Denali Therapeutics alerts:Insider Activity
In related news, Director Marc Tessier-Lavigne sold 8,748 shares of Denali Therapeutics stock in a transaction dated Tuesday, November 1st. The shares were sold at an average price of $30.20, for a total transaction of $264,189.60. Following the sale, the director now directly owns 1,901,608 shares in the company, valued at $57,428,561.60. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Over the last 90 days, insiders have sold 48,748 shares of company stock valued at $1,490,190. Insiders own 12.70% of the company's stock.
Analysts Set New Price Targets
DNLI has been the subject of a number of analyst reports. BTIG Research raised Denali Therapeutics from a "neutral" rating to a "buy" rating and set a $38.00 price target for the company in a report on Wednesday, November 2nd. Bank of America started coverage on shares of Denali Therapeutics in a research note on Wednesday, November 2nd. They set a "buy" rating and a $40.00 price objective on the stock. Morgan Stanley cut their price target on Denali Therapeutics from $67.00 to $60.00 and set an "overweight" rating for the company in a report on Tuesday, November 8th. Cowen started coverage on Denali Therapeutics in a research note on Monday. They issued an "outperform" rating for the company. Finally, Cowen started coverage on shares of Denali Therapeutics in a research note on Monday. They set an "outperform" rating for the company. Eight equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Denali Therapeutics currently has a consensus rating of "Buy" and a consensus price target of $51.17.Denali Therapeutics Stock Performance
Shares of DNLI stock traded down $0.49 during trading hours on Wednesday, hitting $29.97. 11,914 shares of the company were exchanged, compared to its average volume of 600,947. The stock has a market capitalization of $4.07 billion, a price-to-earnings ratio of -12.17 and a beta of 1.46. Denali Therapeutics Inc. has a one year low of $20.24 and a one year high of $48.46. The business's 50-day simple moving average is $30.21 and its two-hundred day simple moving average is $30.21.
Denali Therapeutics (NASDAQ:DNLI – Get Rating) last released its quarterly earnings data on Thursday, November 3rd. The company reported ($0.84) earnings per share for the quarter, missing the consensus estimate of ($0.83) by ($0.01). The business had revenue of $3.56 million for the quarter, compared to analyst estimates of $10.06 million. Denali Therapeutics had a negative return on equity of 33.85% and a negative net margin of 273.34%. As a group, analysts anticipate that Denali Therapeutics Inc. will post -2.6 EPS for the current fiscal year.
About Denali Therapeutics
(Get Rating)
Denali Therapeutics Inc, a biopharmaceutical company, discovers and develops therapeutic candidates for neurodegenerative diseases in the United States. It offers leucine-rich repeat kinase 2 (LRRK2) inhibitor product candidate, including BIIB122/DNL151, a small molecule inhibitor, which is in phase I and phase Ib clinical trials for the treatment of Parkinson's disease.
Further Reading
- Get a free copy of the StockNews.com research report on Denali Therapeutics (DNLI)
- Institutions Sell The Rallies In Toll Brothers Stock
- Low Beta, High Yield Campbell Soup Company Is Mmm Mmm Good
- How to Play Apple and Amazon Heading in 2023
- Ulta Issues A Beautiful FY Outlook, But Is the Stock A Buy Now?
- Should The Bancorp Make Your Small-Cap Watchlist for 2023?
Receive News & Ratings for Denali Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Denali Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.