ClariVest Asset Management LLC Sells 24,784 Shares of Denali Therapeutics Inc. (NASDAQ:DNLI)

ClariVest Asset Management LLC lessened its stake in shares of Denali Therapeutics Inc. (NASDAQ:DNLI - Free Report) by 51.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 22,964 shares of the company's stock after selling 24,784 shares during the quarter. ClariVest Asset Management LLC's holdings in Denali Therapeutics were worth $533,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Pier 88 Investment Partners LLC raised its position in Denali Therapeutics by 73.6% in the second quarter. Pier 88 Investment Partners LLC now owns 69,370 shares of the company's stock worth $1,611,000 after acquiring an additional 29,400 shares in the last quarter. Letko Brosseau & Associates Inc. bought a new stake in shares of Denali Therapeutics in the 2nd quarter worth approximately $264,000. Candriam S.C.A. raised its holdings in shares of Denali Therapeutics by 62.2% in the 2nd quarter. Candriam S.C.A. now owns 726,499 shares of the company's stock worth $16,869,000 after purchasing an additional 278,621 shares in the last quarter. Arizona State Retirement System lifted its stake in Denali Therapeutics by 9.0% during the second quarter. Arizona State Retirement System now owns 33,114 shares of the company's stock valued at $769,000 after purchasing an additional 2,730 shares during the last quarter. Finally, TD Asset Management Inc boosted its holdings in Denali Therapeutics by 4.5% during the second quarter. TD Asset Management Inc now owns 179,152 shares of the company's stock worth $4,160,000 after buying an additional 7,766 shares in the last quarter. Institutional investors own 92.92% of the company's stock.

Denali Therapeutics Stock Up 10.1 %

Shares of DNLI traded up $2.81 during trading hours on Friday, reaching $30.77. The company's stock had a trading volume of 2,696,905 shares, compared to its average volume of 1,135,224. The company has a 50 day moving average of $23.68 and a two-hundred day moving average of $21.05. The firm has a market cap of $4.41 billion, a price-to-earnings ratio of -30.62 and a beta of 1.37. Denali Therapeutics Inc. has a 1-year low of $14.56 and a 1-year high of $31.00.

Denali Therapeutics (NASDAQ:DNLI - Get Free Report) last released its quarterly earnings data on Thursday, August 1st. The company reported ($0.59) earnings per share for the quarter, beating the consensus estimate of ($0.68) by $0.09. The company had revenue of $1.00 million during the quarter, compared to analyst estimates of $10.00 million. The firm's quarterly revenue was down 99.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.30 EPS. As a group, analysts forecast that Denali Therapeutics Inc. will post -2.54 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have issued reports on DNLI. Bank of America upped their price target on Denali Therapeutics from $25.00 to $29.00 and gave the company a "buy" rating in a report on Wednesday, September 4th. Citigroup upped their target price on Denali Therapeutics from $26.00 to $32.00 and gave the company a "buy" rating in a report on Friday, August 2nd. JPMorgan Chase & Co. lifted their price target on Denali Therapeutics from $28.00 to $29.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 10th. HC Wainwright reaffirmed a "buy" rating and set a $90.00 price objective on shares of Denali Therapeutics in a research note on Wednesday, September 4th. Finally, Wedbush dropped their target price on shares of Denali Therapeutics from $30.00 to $26.00 and set an "outperform" rating on the stock in a research report on Friday, August 2nd. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $38.33.

Insider Transactions at Denali Therapeutics

In other news, Director Steve E. Krognes sold 30,000 shares of Denali Therapeutics stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $22.12, for a total transaction of $663,600.00. Following the completion of the sale, the director now directly owns 34,404 shares in the company, valued at approximately $761,016.48. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 7.90% of the company's stock.

Denali Therapeutics Company 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.