Wealthfront Advisers LLC Acquires New Stake in Denali Therapeutics Inc. (NASDAQ:DNLI)

Wealthfront Advisers LLC bought a new position in shares of Denali Therapeutics Inc. (NASDAQ:DNLI - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 19,782 shares of the company's stock, valued at approximately $403,000.

A number of other institutional investors have also added to or reduced their stakes in the company. Quest Partners LLC bought a new position in Denali Therapeutics during the third quarter worth about $73,000. PNC Financial Services Group Inc. lifted its stake in Denali Therapeutics by 30.5% during 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 period. Assetmark Inc. lifted its stake in Denali Therapeutics by 18.0% during the third quarter. Assetmark Inc. now owns 3,808 shares of the company's stock worth $111,000 after purchasing an additional 580 shares during the period. KBC Group NV lifted its stake in Denali Therapeutics by 75.8% during the fourth quarter. KBC Group NV now owns 6,334 shares of the company's stock worth $129,000 after purchasing an additional 2,731 shares during the period. Finally, AlphaQuest LLC lifted its stake in Denali Therapeutics by 177.1% during the fourth quarter. AlphaQuest LLC now owns 6,961 shares of the company's stock worth $142,000 after purchasing an additional 4,449 shares during the period. 92.92% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. JPMorgan Chase & Co. cut their price target on shares of Denali Therapeutics from $28.00 to $24.00 and set an "overweight" rating for the company in a research note on Tuesday, January 7th. Oppenheimer cut their price target on shares of Denali Therapeutics from $50.00 to $42.00 and set an "outperform" rating for the company in a research note on Monday, March 3rd. HC Wainwright lifted their target price on shares of Denali Therapeutics from $80.00 to $87.00 and gave the company a "buy" rating in a research note on Friday, February 28th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Denali Therapeutics in a research note on Tuesday, February 11th. They issued a "buy" rating and a $31.00 target price for the company. Finally, Morgan Stanley initiated coverage on shares of Denali Therapeutics in a research note on Friday, March 7th. They issued an "overweight" rating and a $33.00 target price for the company. Two analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $37.20.

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Insider Activity

In other news, Director Vicki L. Sato sold 3,080 shares of the business's stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $20.91, for a total value of $64,402.80. Following the completion of the transaction, the director now owns 107,976 shares of the company's stock, valued at $2,257,778.16. The trade was a 2.77 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Carole Ho sold 12,255 shares of the business's stock in a transaction on Monday, January 6th. The shares were sold at an average price of $20.22, for a total transaction of $247,796.10. Following the completion of the sale, the insider now directly owns 178,580 shares in the company, valued at $3,610,887.60. This represents a 6.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 47,940 shares of company stock valued at $973,442 in the last quarter. Company insiders own 7.90% of the company's stock.

Denali Therapeutics Stock Performance

DNLI traded down $0.21 during trading on Thursday, reaching $14.61. 521,210 shares of the company's stock were exchanged, compared to its average volume of 998,728. The company's fifty day moving average price is $19.91 and its 200-day moving average price is $23.77. Denali Therapeutics Inc. has a fifty-two week low of $14.01 and a fifty-two week high of $33.33. The firm has a market capitalization of $2.12 billion, a PE ratio of -5.29 and a beta of 1.46.

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 (EPS) for the quarter, beating the consensus estimate of ($0.75) by $0.08. Research analysts forecast that Denali Therapeutics Inc. will post -2.71 earnings per share for the current fiscal 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.