JPMorgan Chase & Co. Purchases 14,324 Shares of Denali Therapeutics Inc. (NASDAQ:DNLI)

JPMorgan Chase & Co. raised its position in shares of Denali Therapeutics Inc. (NASDAQ:DNLI - Free Report) by 6.5% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 235,386 shares of the company's stock after purchasing an additional 14,324 shares during the period. JPMorgan Chase & Co. owned approximately 0.16% of Denali Therapeutics worth $6,857,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Victory Capital Management Inc. increased its position in shares of Denali Therapeutics by 163.7% during the 3rd quarter. Victory Capital Management Inc. now owns 39,900 shares of the company's stock valued at $1,162,000 after purchasing an additional 24,767 shares during the last quarter. FMR LLC grew its position in Denali Therapeutics by 3,234.3% during the third quarter. FMR LLC now owns 7,831,378 shares of the company's stock valued at $228,128,000 after acquiring an additional 7,596,508 shares during the last quarter. Algert Global LLC grew its position in Denali Therapeutics by 82.4% during the third quarter. Algert Global LLC now owns 48,630 shares of the company's stock valued at $1,417,000 after acquiring an additional 21,975 shares during the last quarter. Integral Health Asset Management LLC purchased a new position in shares of Denali Therapeutics during the second quarter worth approximately $7,546,000. Finally, Principal Financial Group Inc. lifted its holdings in shares of 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. Institutional investors own 92.92% of the company's stock.

Denali Therapeutics Stock Performance

DNLI stock traded up $0.17 on Thursday, reaching $21.67. The company's stock had a trading volume of 1,302,560 shares, compared to its average volume of 1,198,501. The firm has a market cap of $3.12 billion, a PE ratio of -7.85 and a beta of 1.39. The business has a fifty day simple moving average of $23.48 and a two-hundred day simple moving average of $24.77. Denali Therapeutics Inc. has a 12-month low of $14.56 and a 12-month high of $33.33.

Denali Therapeutics (NASDAQ:DNLI - Get Free Report) last posted its earnings results on Wednesday, November 6th. The company reported ($0.63) 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. As a group, research analysts anticipate that Denali Therapeutics Inc. will post -2.73 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently commented on DNLI. Robert W. Baird initiated coverage on shares of Denali Therapeutics in a research report on Tuesday, January 7th. They issued an "outperform" rating and a $31.00 target price on the stock. Raymond James reiterated a "market perform" rating on shares of Denali Therapeutics in a report on Thursday, October 10th. William Blair reissued an "outperform" rating on shares of Denali Therapeutics in a research note on Wednesday. JPMorgan Chase & Co. reduced their price target on Denali Therapeutics from $28.00 to $24.00 and set an "overweight" rating on the stock in a research report on Tuesday, January 7th. Finally, Baird R W raised Denali Therapeutics to a "strong-buy" rating in a research note on Tuesday, January 7th. Two equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $38.91.

Insiders Place Their Bets

In related news, insider Carole Ho sold 12,255 shares of the firm'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 $247,796.10. Following the completion of the transaction, the insider now owns 178,580 shares of the company's stock, valued at $3,610,887.60. This trade represents a 6.42 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Vicki L. Sato sold 1,020 shares of the business's stock in a transaction on Thursday, November 7th. The stock was 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 directly 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 disclosure for this sale can be found here. Insiders sold 104,518 shares of company stock worth $2,576,982 over the last three months. Company insiders own 7.90% of the company's stock.

About Denali Therapeutics

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.