Norges Bank Makes New $21.72 Million Investment in Denali Therapeutics Inc. (NASDAQ:DNLI)

Norges Bank purchased a new position in Denali Therapeutics Inc. (NASDAQ:DNLI - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 1,065,608 shares of the company's stock, valued at approximately $21,717,000. Norges Bank owned about 0.74% of Denali Therapeutics at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the company. PNC Financial Services Group Inc. boosted its position in Denali Therapeutics by 30.5% in the fourth quarter. PNC Financial Services Group Inc. now owns 3,790 shares of the company's stock worth $77,000 after purchasing an additional 885 shares during the last quarter. KBC Group NV boosted its holdings in shares of Denali Therapeutics by 75.8% in the fourth quarter. KBC Group NV now owns 6,334 shares of the company's stock worth $129,000 after buying an additional 2,731 shares during the last quarter. AlphaQuest LLC grew its position in Denali Therapeutics by 177.1% during the fourth quarter. AlphaQuest LLC now owns 6,961 shares of the company's stock valued at $142,000 after buying an additional 4,449 shares during the period. E Fund Management Co. Ltd. increased its holdings in Denali Therapeutics by 32.2% during the fourth quarter. E Fund Management Co. Ltd. now owns 9,997 shares of the company's stock valued at $204,000 after buying an additional 2,436 shares during the last quarter. Finally, SG Americas Securities LLC raised its position in Denali Therapeutics by 128.8% in the fourth quarter. SG Americas Securities LLC now owns 11,003 shares of the company's stock worth $224,000 after acquiring an additional 6,195 shares during the period. Institutional investors own 92.92% of the company's stock.

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Denali Therapeutics Stock Performance

NASDAQ:DNLI traded up $0.20 during trading hours on Friday, reaching $12.70. The stock had a trading volume of 1,626,428 shares, compared to its average volume of 1,078,596. The stock has a market capitalization of $1.84 billion, a PE ratio of -4.60 and a beta of 1.58. Denali Therapeutics Inc. has a 52 week low of $10.57 and a 52 week high of $33.33. The company has a 50 day moving average price of $16.53 and a two-hundred day moving average price of $21.83.

Denali Therapeutics (NASDAQ:DNLI - Get Free Report) last announced its quarterly earnings results on Thursday, February 27th. The company reported ($0.67) earnings per share for the quarter, topping the consensus estimate of ($0.75) by $0.08. Equities research analysts predict that Denali Therapeutics Inc. will post -2.71 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on DNLI shares. The Goldman Sachs Group reduced their price objective on Denali Therapeutics from $45.00 to $40.00 and set a "buy" rating for the company in a research note on Tuesday, January 28th. Cantor Fitzgerald upgraded Denali Therapeutics from a "neutral" rating to an "overweight" rating in a research report on Thursday. Stifel Nicolaus raised Denali Therapeutics from a "hold" rating to a "buy" rating and set a $37.00 price objective on the stock in a research report on Monday, December 16th. Deutsche Bank Aktiengesellschaft started coverage on shares of Denali Therapeutics in a research note on Tuesday, February 11th. They set a "buy" rating and a $31.00 target price on the stock. Finally, Bank of America dropped their price target on shares of Denali Therapeutics from $30.00 to $28.00 and set a "buy" rating for the company in a research report on Monday, March 10th. One equities research analyst has 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 MarketBeat.com, the stock has a consensus rating of "Buy" and an average target price of $37.57.

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.