Geode Capital Management LLC Sells 27,061 Shares of Denali Therapeutics Inc. (NASDAQ:DNLI)

Geode Capital Management LLC cut its position in Denali Therapeutics Inc. (NASDAQ:DNLI - Free Report) by 0.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,955,477 shares of the company's stock after selling 27,061 shares during the period. Geode Capital Management LLC owned 2.05% of Denali Therapeutics worth $86,109,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. CWM LLC grew its stake in Denali Therapeutics by 43.6% in 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 period. Quest Partners LLC bought a new position in shares of Denali Therapeutics in the 3rd quarter worth $73,000. Assetmark Inc. grew its position in Denali Therapeutics by 18.0% in the 3rd quarter. Assetmark Inc. now owns 3,808 shares of the company's stock valued at $111,000 after purchasing an additional 580 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its position in Denali Therapeutics by 21.6% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,178 shares of the company's stock valued at $152,000 after purchasing an additional 920 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in Denali Therapeutics during the 2nd quarter valued at $194,000. 92.92% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, Director Vicki L. Sato sold 1,020 shares of the stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $30.00, for a total transaction of $30,600.00. Following the completion of the transaction, the director now owns 111,056 shares in the company, valued at approximately $3,331,680. This represents a 0.91 % decrease in their position. 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 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 completion of 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 90 days, insiders have sold 86,578 shares of company stock valued at $2,474,440. Company insiders own 7.90% of the company's stock.

Denali Therapeutics Stock Down 0.2 %

DNLI stock traded down $0.04 during midday trading on Friday, hitting $21.45. The company's stock had a trading volume of 2,810,606 shares, compared to its average volume of 1,062,494. The stock has a market cap of $3.09 billion, a price-to-earnings ratio of -7.77 and a beta of 1.35. The stock's 50-day moving average price is $25.82 and its 200 day moving average price is $24.88. Denali Therapeutics Inc. has a 1 year low of $14.56 and a 1 year high of $33.33.

Denali Therapeutics (NASDAQ:DNLI - Get Free Report) last issued its quarterly 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 in the prior year, the firm earned ($0.72) EPS. As a group, equities analysts forecast that Denali Therapeutics Inc. will post -2.71 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have weighed in on DNLI shares. HC Wainwright reaffirmed a "buy" rating and issued a $90.00 price objective on shares of Denali Therapeutics in a research note on Thursday, November 7th. Stifel Nicolaus upgraded Denali Therapeutics from a "hold" rating to a "buy" rating and set a $37.00 price target for the company in a research note on Monday. Bank of America boosted their price objective on Denali Therapeutics from $25.00 to $29.00 and gave the stock a "buy" rating in a report on Wednesday, September 4th. Raymond James restated a "market perform" rating on shares of Denali Therapeutics in a report on Thursday, October 10th. Finally, Jefferies Financial Group upped their price target on Denali Therapeutics from $40.00 to $45.00 and gave the stock a "buy" rating in a report on Friday, November 1st. Two investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $40.40.

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.