Artisan Partners Limited Partnership Reduces Position in Denali Therapeutics Inc. (NASDAQ:DNLI)

Artisan Partners Limited Partnership decreased its stake in Denali Therapeutics Inc. (NASDAQ:DNLI - Free Report) by 3.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,054,523 shares of the company's stock after selling 36,495 shares during the quarter. Artisan Partners Limited Partnership owned approximately 0.73% of Denali Therapeutics worth $21,491,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Quest Partners LLC acquired a new stake in Denali Therapeutics during the 3rd quarter valued at $73,000. PNC Financial Services Group Inc. increased its stake in shares of Denali Therapeutics by 30.5% in the fourth quarter. PNC Financial Services Group Inc. now owns 3,790 shares of the company's stock valued at $77,000 after buying an additional 885 shares in the last quarter. KBC Group NV raised 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 valued at $129,000 after buying an additional 2,731 shares during the last quarter. AlphaQuest LLC raised its holdings in shares of Denali Therapeutics by 177.1% in 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 last quarter. Finally, E Fund Management Co. Ltd. lifted its position in Denali Therapeutics by 32.2% during the 4th quarter. E Fund Management Co. Ltd. now owns 9,997 shares of the company's stock worth $204,000 after buying an additional 2,436 shares in the last quarter. 92.92% of the stock is currently owned by institutional investors.

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Analyst Ratings Changes

DNLI has been the subject of several recent research reports. HC Wainwright boosted their price objective on Denali Therapeutics from $80.00 to $87.00 and gave the stock a "buy" rating in a report on Friday, February 28th. William Blair reissued an "outperform" rating on shares of Denali Therapeutics in a research note on Friday, February 28th. Robert W. Baird assumed coverage on shares of Denali Therapeutics in a research note on Tuesday, January 7th. They issued an "outperform" rating and a $31.00 price objective on the stock. The Goldman Sachs Group dropped their target price on shares of Denali Therapeutics from $45.00 to $40.00 and set a "buy" rating for the company in a research report on Tuesday, January 28th. Finally, Bank of America decreased their price objective on Denali Therapeutics from $30.00 to $28.00 and set a "buy" rating for the company in a research note on Monday, March 10th. Two equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Denali Therapeutics presently has a consensus rating of "Moderate Buy" and a consensus price target of $37.20.

Denali Therapeutics Stock Up 12.4 %

Shares of NASDAQ DNLI traded up $1.53 during trading hours on Wednesday, reaching $13.82. 1,157,446 shares of the stock traded hands, compared to its average volume of 1,148,484. The company has a market capitalization of $2.01 billion, a P/E ratio of -5.01 and a beta of 1.46. The company's 50-day simple moving average is $18.67 and its two-hundred day simple moving average is $22.97. Denali Therapeutics Inc. has a 52-week low of $12.05 and a 52-week high of $33.33.

Denali Therapeutics (NASDAQ:DNLI - Get Free Report) last posted 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. As a group, sell-side analysts forecast that Denali Therapeutics Inc. will post -2.71 earnings per share for the current fiscal year.

Insider Buying and Selling at Denali Therapeutics

In related news, CEO Ryan J. Watts sold 29,266 shares of the company's stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $20.22, for a total transaction of $591,758.52. Following the completion of the transaction, the chief executive officer now owns 260,721 shares in the company, valued at $5,271,778.62. This represents a 10.09 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 transaction of $64,402.80. Following the transaction, the director now directly owns 107,976 shares in the company, valued at approximately $2,257,778.16. The trade was a 2.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 47,940 shares of company stock worth $973,442. 7.90% of the stock is currently owned by insiders.

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.