Fmr LLC Purchases 7,596,508 Shares of Denali Therapeutics Inc. (NASDAQ:DNLI)

FMR LLC grew its position in shares of Denali Therapeutics Inc. (NASDAQ:DNLI - Free Report) by 3,234.3% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 7,831,378 shares of the company's stock after purchasing an additional 7,596,508 shares during the quarter. FMR LLC owned about 5.44% of Denali Therapeutics worth $228,128,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Victory Capital Management Inc. raised its stake in shares of Denali Therapeutics by 163.7% in the third quarter. Victory Capital Management Inc. now owns 39,900 shares of the company's stock worth $1,162,000 after purchasing an additional 24,767 shares during the last quarter. Candriam S.C.A. raised its position in Denali Therapeutics by 62.2% in the 2nd quarter. Candriam S.C.A. now owns 726,499 shares of the company's stock valued at $16,869,000 after buying an additional 278,621 shares during the last quarter. Integral Health Asset Management LLC bought a new position in Denali Therapeutics during the 2nd quarter valued at $7,546,000. Algert Global LLC boosted its holdings in Denali Therapeutics by 82.4% during the 3rd quarter. Algert Global LLC now owns 48,630 shares of the company's stock worth $1,417,000 after acquiring an additional 21,975 shares during the last quarter. Finally, Rhumbline Advisers grew its stake in shares of Denali Therapeutics by 13.3% in the 2nd quarter. Rhumbline Advisers now owns 194,859 shares of the company's stock worth $4,525,000 after acquiring an additional 22,900 shares in the last quarter. 92.92% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Denali Therapeutics

In other Denali Therapeutics news, Director Steve E. Krognes sold 30,000 shares of the firm'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 sale, the director now owns 29,096 shares in the company, valued at $844,656.88. This trade represents a 50.76 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Ryan J. Watts sold 40,000 shares of Denali Therapeutics stock in a transaction dated Friday, October 18th. The stock was sold at an average price of $27.69, for a total value of $1,107,600.00. Following the sale, the chief executive officer now directly owns 235,807 shares of the company's stock, valued at approximately $6,529,495.83. This trade represents a 14.50 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 86,578 shares of company stock valued at $2,474,440. Company insiders own 7.90% of the company's stock.

Denali Therapeutics Trading Down 3.5 %

Shares of DNLI traded down $0.89 during midday trading on Tuesday, hitting $24.74. 112,533 shares of the company traded hands, compared to its average volume of 1,062,831. The stock has a 50-day moving average of $27.20 and a 200-day moving average of $24.57. Denali Therapeutics Inc. has a one year low of $14.56 and a one year 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) earnings per share for the quarter, missing analysts' consensus estimates of ($0.60) by ($0.03). During the same period last year, the company earned ($0.72) EPS. On average, equities analysts forecast that Denali Therapeutics Inc. will post -2.69 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts recently weighed in on DNLI shares. Jefferies Financial Group raised their price target on shares of Denali Therapeutics from $40.00 to $45.00 and gave the company a "buy" rating in a research report on Friday, November 1st. HC Wainwright reissued a "buy" rating and set a $90.00 target price on shares of Denali Therapeutics in a research report on Thursday, November 7th. Cantor Fitzgerald lowered Denali Therapeutics from an "overweight" rating to a "neutral" rating in a report on Monday, October 7th. JPMorgan Chase & Co. dropped their price target on Denali Therapeutics from $29.00 to $28.00 and set an "overweight" rating on the stock in a report on Friday, October 11th. Finally, Raymond James reiterated a "market perform" rating on shares of Denali Therapeutics in a research note on Thursday, October 10th. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $38.90.

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.