Wasatch Advisors LP Reduces Stock Position in Denali Therapeutics Inc. (NASDAQ:DNLI)

Wasatch Advisors LP cut its stake in shares of Denali Therapeutics Inc. (NASDAQ:DNLI - Free Report) by 40.6% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 238,881 shares of the company's stock after selling 163,528 shares during the period. Wasatch Advisors LP owned about 0.17% of Denali Therapeutics worth $6,959,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in DNLI. GAMMA Investing LLC raised its position in shares of Denali Therapeutics by 879.5% during the 2nd quarter. GAMMA Investing LLC now owns 2,057 shares of the company's stock worth $48,000 after purchasing an additional 1,847 shares during the last quarter. CWM LLC raised its holdings in shares of Denali Therapeutics by 43.6% during the third quarter. CWM LLC now owns 2,153 shares of the company's stock valued at $63,000 after acquiring an additional 654 shares during the last quarter. Quest Partners LLC purchased a new position in shares of Denali Therapeutics in the third quarter valued at approximately $73,000. Assetmark Inc. boosted its stake in shares of Denali Therapeutics by 18.0% in the third quarter. Assetmark Inc. now owns 3,808 shares of the company's stock worth $111,000 after acquiring an additional 580 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Denali Therapeutics by 21.6% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,178 shares of the company's stock worth $152,000 after acquiring an additional 920 shares during the last quarter. 92.92% of the stock is owned by hedge funds and other institutional investors.

Denali Therapeutics Stock Performance

Shares of Denali Therapeutics stock traded down $0.16 during trading hours on Friday, hitting $25.00. The company's stock had a trading volume of 388,118 shares, compared to its average volume of 939,696. The firm has a fifty day moving average of $27.29 and a 200-day moving average of $24.50. Denali Therapeutics Inc. has a twelve month low of $14.56 and a twelve month high of $33.33.

Denali Therapeutics (NASDAQ:DNLI - Get Free Report) last posted its quarterly earnings results on Wednesday, November 6th. The company reported ($0.63) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.60) by ($0.03). During the same period in the previous year, the firm earned ($0.72) EPS. Equities analysts forecast that Denali Therapeutics Inc. will post -2.69 earnings per share for the current year.

Insider Activity

In related news, Director Vicki L. Sato sold 1,020 shares of the firm's stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $30.00, for a total value of $30,600.00. Following the completion of the sale, the director now owns 111,056 shares in the company, valued at $3,331,680. This trade represents a 0.91 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Steve E. Krognes sold 30,000 shares of the company's stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $29.03, for a total transaction of $870,900.00. Following the transaction, the director now owns 29,096 shares in the company, valued at $844,656.88. The trade was a 50.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 86,578 shares of company stock valued at $2,474,440 in the last three months. 7.90% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research analysts recently commented on DNLI shares. JPMorgan Chase & Co. reduced their price objective on Denali Therapeutics from $29.00 to $28.00 and set an "overweight" rating for the company in a research note on Friday, October 11th. Raymond James reiterated a "market perform" rating on shares of Denali Therapeutics in a research report on Thursday, October 10th. Jefferies Financial Group boosted their price target on shares of Denali Therapeutics from $40.00 to $45.00 and gave the stock a "buy" rating in a research report on Friday, November 1st. Bank of America increased their price objective on shares of Denali Therapeutics from $25.00 to $29.00 and gave the company a "buy" rating in a report on Wednesday, September 4th. Finally, HC Wainwright reissued a "buy" rating and issued a $90.00 target price on shares of Denali Therapeutics in a research note on Thursday, November 7th. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, Denali Therapeutics currently has an average rating of "Moderate Buy" and an average price target of $38.90.

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.