Capital Research Global Investors Sells 2,431,903 Shares of Denali Therapeutics Inc. (NASDAQ:DNLI)

Capital Research Global Investors lowered its stake in shares of Denali Therapeutics Inc. (NASDAQ:DNLI - Free Report) by 30.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,477,211 shares of the company's stock after selling 2,431,903 shares during the period. Capital Research Global Investors owned 3.81% of Denali Therapeutics worth $111,626,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Barclays PLC increased its position in Denali Therapeutics by 101.4% in the third quarter. Barclays PLC now owns 255,883 shares of the company's stock worth $7,454,000 after buying an additional 128,823 shares during the last quarter. Franklin Resources Inc. increased its holdings in Denali Therapeutics by 3.8% in the 3rd quarter. Franklin Resources Inc. now owns 80,041 shares of the company's stock worth $2,148,000 after acquiring an additional 2,901 shares during the last quarter. Principal Financial Group Inc. increased its holdings in Denali Therapeutics by 13.8% in the 3rd quarter. Principal Financial Group Inc. now owns 1,238,476 shares of the company's stock worth $36,076,000 after acquiring an additional 149,939 shares during the last quarter. JPMorgan Chase & Co. raised its stake in Denali Therapeutics by 6.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 235,386 shares of the company's stock valued at $6,857,000 after acquiring an additional 14,324 shares during the period. Finally, SG Americas Securities LLC lifted its holdings in Denali Therapeutics by 128.8% during the fourth quarter. SG Americas Securities LLC now owns 11,003 shares of the company's stock valued at $224,000 after purchasing an additional 6,195 shares during the last quarter. Hedge funds and other institutional investors own 92.92% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. JPMorgan Chase & Co. lowered their price target on shares of Denali Therapeutics from $28.00 to $24.00 and set an "overweight" rating on the stock in a research report on Tuesday, January 7th. Morgan Stanley started coverage on Denali Therapeutics in a report on Friday, March 7th. They issued an "overweight" rating and a $33.00 price target for the company. Bank of America decreased their price objective on Denali Therapeutics from $30.00 to $28.00 and set a "buy" rating on the stock in a research note on Monday, March 10th. Robert W. Baird initiated coverage on Denali Therapeutics in a report on Tuesday, January 7th. They set an "outperform" rating and a $31.00 price objective on the stock. Finally, William Blair reaffirmed an "outperform" rating on shares of Denali Therapeutics in a report on Friday, February 28th. One research analyst has rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Denali Therapeutics has an average rating of "Buy" and an average target price of $37.57.

Denali Therapeutics Stock Up 1.2 %

Shares of Denali Therapeutics stock traded up $0.19 during trading on Friday, hitting $15.68. 1,150,314 shares of the stock traded hands, compared to its average volume of 1,079,048. The firm's fifty day moving average is $15.09 and its 200-day moving average is $20.94. The stock has a market cap of $2.28 billion, a price-to-earnings ratio of -5.68 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.

Denali Therapeutics (NASDAQ:DNLI - Get Free Report) last announced its quarterly earnings data on Thursday, February 27th. The company reported ($0.67) earnings per share for the quarter, topping analysts' consensus estimates of ($0.75) by $0.08. On average, analysts forecast that Denali Therapeutics Inc. will post -2.71 earnings per share for the current fiscal year.

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.