Denali Therapeutics Inc. (NASDAQ:DNLI) Stake Lessened by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D cut its position in shares of Denali Therapeutics Inc. (NASDAQ:DNLI - Free Report) by 37.5% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 103,096 shares of the company's stock after selling 61,979 shares during the quarter. State of New Jersey Common Pension Fund D owned approximately 0.07% of Denali Therapeutics worth $2,394,000 at the end of the most recent quarter.

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

Denali Therapeutics Stock Down 0.8 %

Shares of NASDAQ DNLI traded down $0.25 during trading on Friday, reaching $30.80. 444,506 shares of the stock were exchanged, compared to its average volume of 1,131,900. The business's 50-day moving average price is $24.59 and its 200 day moving average price is $21.41. Denali Therapeutics Inc. has a twelve month low of $14.56 and a twelve month high of $32.13. The company has a market capitalization of $4.39 billion, a price-to-earnings ratio of -32.34 and a beta of 1.37.

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

Analyst Upgrades and Downgrades

Several research firms recently issued reports on DNLI. Bank of America raised their target price on shares of Denali Therapeutics from $25.00 to $29.00 and gave the stock a "buy" rating in a research report on Wednesday, September 4th. HC Wainwright reissued a "buy" rating and issued a $90.00 target price on shares of Denali Therapeutics in a research report on Wednesday, September 4th. Wedbush reduced their price target 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. Citigroup lifted their price target on shares of Denali Therapeutics from $26.00 to $32.00 and gave the company a "buy" rating in a research report on Friday, August 2nd. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating and set a $35.00 price target on shares of Denali Therapeutics in a research report on Monday, September 9th. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $38.33.

Insider Transactions at Denali Therapeutics

In other news, Director Steve E. Krognes sold 30,000 shares of the business's stock in a transaction on Monday, July 1st. The shares were sold at an average price of $22.12, for a total transaction of $663,600.00. Following the transaction, the director now directly owns 34,404 shares of the company's stock, valued at $761,016.48. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate 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.