Cinctive Capital Management LP decreased its stake in Denali Therapeutics Inc. (NASDAQ:DNLI - Free Report) by 12.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 130,445 shares of the company's stock after selling 18,649 shares during the quarter. Cinctive Capital Management LP owned approximately 0.09% of Denali Therapeutics worth $2,658,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also modified their holdings of the company. Rhumbline Advisers lifted its stake in Denali Therapeutics by 0.3% in the 4th quarter. Rhumbline Advisers now owns 190,390 shares of the company's stock valued at $3,880,000 after buying an additional 497 shares in the last quarter. PNC Financial Services Group Inc. raised its holdings in shares of Denali Therapeutics by 30.5% during the fourth quarter. PNC Financial Services Group Inc. now owns 3,790 shares of the company's stock valued at $77,000 after acquiring an additional 885 shares during the last quarter. E Fund Management Co. Ltd. lifted its position in shares of Denali Therapeutics by 32.2% in the fourth quarter. E Fund Management Co. Ltd. now owns 9,997 shares of the company's stock valued at $204,000 after acquiring an additional 2,436 shares in the last quarter. Pier Capital LLC boosted its stake in shares of Denali Therapeutics by 1.6% in the third quarter. Pier Capital LLC now owns 168,082 shares of the company's stock worth $4,896,000 after acquiring an additional 2,596 shares during the last quarter. Finally, KBC Group NV increased its position in shares of 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 in the last quarter. Hedge funds and other institutional investors own 92.92% of the company's stock.
Wall Street Analysts Forecast Growth
DNLI has been the topic of several recent research reports. Morgan Stanley started coverage on shares of Denali Therapeutics in a research note on Friday, March 7th. They set an "overweight" rating and a $33.00 target price on the stock. Oppenheimer dropped their price objective 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. Baird R W raised shares of Denali Therapeutics to a "strong-buy" rating in a research note on Tuesday, January 7th. Stifel Nicolaus upgraded Denali Therapeutics from a "hold" rating to a "buy" rating and set a $37.00 price target for the company in a research report on Monday, December 16th. Finally, William Blair reiterated an "outperform" rating on shares of Denali Therapeutics in a research report on Friday, February 28th. Two investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $37.20.
Read Our Latest Research Report on DNLI
Denali Therapeutics Price Performance
Shares of NASDAQ:DNLI traded up $0.09 during midday trading on Tuesday, reaching $11.69. 481,738 shares of the company's stock were exchanged, compared to its average volume of 1,060,386. The stock has a market cap of $1.70 billion, a price-to-earnings ratio of -4.25 and a beta of 1.58. Denali Therapeutics Inc. has a fifty-two week low of $10.57 and a fifty-two week high of $33.33. The firm's 50 day simple moving average is $17.83 and its two-hundred day simple moving average is $22.46.
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 for the quarter, beating analysts' consensus estimates of ($0.75) by $0.08. Equities research analysts predict that Denali Therapeutics Inc. will post -2.71 earnings per share for the current fiscal year.
Denali Therapeutics Company Profile
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Free Report)
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.
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