Point72 Asset Management L.P. Trims Stock Holdings in Denali Therapeutics Inc. (NASDAQ:DNLI)

Point72 Asset Management L.P. decreased its stake in Denali Therapeutics Inc. (NASDAQ:DNLI - Free Report) by 68.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 333,530 shares of the company's stock after selling 719,620 shares during the period. Point72 Asset Management L.P. owned 0.23% of Denali Therapeutics worth $9,716,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in DNLI. GAMMA Investing LLC raised its holdings in Denali Therapeutics by 879.5% during the 2nd 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 last quarter. CWM LLC increased its position 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 period. Quest Partners LLC acquired a new position in Denali Therapeutics in the third quarter valued at $73,000. Assetmark Inc. boosted its position in Denali Therapeutics by 18.0% during the third quarter. Assetmark Inc. now owns 3,808 shares of the company's stock valued at $111,000 after acquiring an additional 580 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its holdings in Denali Therapeutics by 21.6% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,178 shares of the company's stock worth $152,000 after acquiring an additional 920 shares during the period. 92.92% of the stock is currently owned by institutional investors.

Denali Therapeutics Price Performance

Shares of NASDAQ DNLI traded up $1.57 during trading on Friday, hitting $24.89. The stock had a trading volume of 513,278 shares, compared to its average volume of 900,668. The firm has a fifty day moving average of $26.76 and a two-hundred day moving average of $24.67. The company has a market capitalization of $3.58 billion, a PE ratio of -9.02 and a beta of 1.35. Denali Therapeutics Inc. has a 12 month low of $14.56 and a 12 month high of $33.33.

Denali Therapeutics (NASDAQ:DNLI - Get Free Report) last issued its quarterly earnings data on Wednesday, November 6th. The company reported ($0.63) earnings per share (EPS) 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 expect that Denali Therapeutics Inc. will post -2.71 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Alexander O. Schuth sold 15,558 shares of the stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $29.91, for a total transaction of $465,339.78. Following the completion of the transaction, the insider now directly owns 178,066 shares of the company's stock, valued at $5,325,954.06. This represents a 8.04 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Vicki L. Sato sold 1,020 shares of Denali Therapeutics stock in a transaction that occurred 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 sale, the director now directly owns 111,056 shares in the company, valued at $3,331,680. This trade represents a 0.91 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 86,578 shares of company stock valued at $2,474,440 over the last three months. Corporate insiders own 7.90% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on DNLI. JPMorgan Chase & Co. cut their target price on shares of Denali Therapeutics from $29.00 to $28.00 and set an "overweight" rating on the stock in a research note on Friday, October 11th. HC Wainwright reiterated a "buy" rating and issued a $90.00 price target on shares of Denali Therapeutics in a report on Thursday, November 7th. Cantor Fitzgerald downgraded Denali Therapeutics from an "overweight" rating to a "neutral" rating in a report on Monday, October 7th. Bank of America upped their target price on Denali Therapeutics from $25.00 to $29.00 and gave the stock a "buy" rating in a research report on Wednesday, September 4th. Finally, Raymond James reissued a "market perform" rating on shares of Denali Therapeutics in a research report on Thursday, October 10th. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $38.90.

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.