Denali Therapeutics Inc. (NASDAQ:DNLI) Shares Bought by Fred Alger Management LLC

Fred Alger Management LLC lifted its holdings in Denali Therapeutics Inc. (NASDAQ:DNLI - Free Report) by 349.1% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 121,316 shares of the company's stock after buying an additional 94,302 shares during the quarter. Fred Alger Management LLC owned about 0.08% of Denali Therapeutics worth $3,534,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. GAMMA Investing LLC grew its holdings in Denali Therapeutics by 879.5% during the second 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 period. CWM LLC grew its stake in shares of Denali Therapeutics by 43.6% during the third quarter. CWM LLC now owns 2,153 shares of the company's stock worth $63,000 after buying an additional 654 shares during the last quarter. Quest Partners LLC bought a new stake in shares of Denali Therapeutics in the third quarter worth $73,000. Assetmark Inc. lifted its holdings in Denali Therapeutics by 18.0% in the third quarter. Assetmark Inc. now owns 3,808 shares of the company's stock valued at $111,000 after buying an additional 580 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. lifted its holdings in 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 valued at $152,000 after buying an additional 920 shares during the period. 92.92% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on DNLI. HC Wainwright reaffirmed a "buy" rating and issued a $90.00 price objective on shares of Denali Therapeutics in a research report on Thursday, November 7th. Jefferies Financial Group raised their price objective 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. Cantor Fitzgerald lowered shares of Denali Therapeutics from an "overweight" rating to a "neutral" rating in a report on Monday, October 7th. Bank of America increased their target price 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, Raymond James reissued a "market perform" rating on shares of Denali Therapeutics in a report on Thursday, October 10th. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $38.90.

Denali Therapeutics Price Performance

Denali Therapeutics stock traded down $0.16 during mid-day trading on Friday, reaching $25.00. 388,118 shares of the company's stock traded hands, compared to its average volume of 939,696. Denali Therapeutics Inc. has a 12-month low of $14.56 and a 12-month high of $33.33. The stock has a 50 day moving average of $27.29 and a two-hundred day moving average of $24.50.

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

Insider Transactions at Denali Therapeutics

In other news, insider Alexander O. Schuth sold 15,558 shares of the stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $29.91, for a total value of $465,339.78. Following the completion of the sale, the insider now directly owns 178,066 shares of the company's stock, valued at approximately $5,325,954.06. This represents a 8.04 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Ryan J. Watts sold 40,000 shares of the stock in a transaction on 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 represents a 14.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 86,578 shares of company stock valued at $2,474,440. 7.90% of the stock is currently owned by corporate 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.