Proficio Capital Partners LLC Makes New $514,000 Investment in Denali Therapeutics Inc. (NASDAQ:DNLI)

Proficio Capital Partners LLC bought a new position in Denali Therapeutics Inc. (NASDAQ:DNLI - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 25,210 shares of the company's stock, valued at approximately $514,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Wellington Management Group LLP increased its position in Denali Therapeutics by 9.2% during the 3rd quarter. Wellington Management Group LLP now owns 10,727,450 shares of the company's stock worth $312,491,000 after purchasing an additional 903,683 shares during the period. FMR LLC boosted its stake in shares of Denali Therapeutics by 3,234.3% in the third quarter. FMR LLC now owns 7,831,378 shares of the company's stock valued at $228,128,000 after buying an additional 7,596,508 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Denali Therapeutics by 63.2% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,749,486 shares of the company's stock worth $109,223,000 after acquiring an additional 1,451,770 shares during the period. Principal Financial Group Inc. raised its position in Denali Therapeutics by 13.8% in the third quarter. Principal Financial Group Inc. now owns 1,238,476 shares of the company's stock worth $36,076,000 after acquiring an additional 149,939 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Denali Therapeutics by 1.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,028,462 shares of the company's stock worth $20,960,000 after purchasing an additional 12,652 shares in the last quarter. Hedge funds and other institutional investors own 92.92% of the company's stock.

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Denali Therapeutics Stock Performance

DNLI traded up $0.39 on Thursday, reaching $14.20. 654,348 shares of the company's stock were exchanged, compared to its average volume of 994,604. The company has a market cap of $2.06 billion, a price-to-earnings ratio of -5.14 and a beta of 1.46. Denali Therapeutics Inc. has a twelve month low of $13.67 and a twelve month high of $33.33. The company's 50 day moving average is $19.34 and its 200-day moving average is $23.39.

Denali Therapeutics (NASDAQ:DNLI - Get Free Report) last announced its earnings results on Thursday, February 27th. The company reported ($0.67) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.75) by $0.08. Sell-side analysts forecast that Denali Therapeutics Inc. will post -2.71 EPS for the current year.

Wall Street Analyst Weigh In

DNLI has been the subject of several recent analyst reports. Baird R W upgraded shares of Denali Therapeutics to a "strong-buy" rating in a research note on Tuesday, January 7th. Deutsche Bank Aktiengesellschaft began coverage on Denali Therapeutics in a research report on Tuesday, February 11th. They issued a "buy" rating and a $31.00 price target for the company. William Blair reissued an "outperform" rating on shares of Denali Therapeutics in a research note on Friday, February 28th. Oppenheimer reduced their price target on shares of Denali Therapeutics from $50.00 to $42.00 and set an "outperform" rating on the stock in a report on Monday, March 3rd. Finally, HC Wainwright raised their price objective on shares of Denali Therapeutics from $80.00 to $87.00 and gave the stock a "buy" rating in a research note on Friday, February 28th. Two analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $37.20.

Insiders Place Their Bets

In other news, Director Vicki L. Sato sold 3,080 shares of the firm's stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $20.91, for a total value of $64,402.80. Following the transaction, the director now directly owns 107,976 shares in the company, valued at approximately $2,257,778.16. This trade represents a 2.77 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Ryan J. Watts sold 29,266 shares of the business's stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $20.22, for a total transaction of $591,758.52. Following the sale, the chief executive officer now directly owns 260,721 shares of the company's stock, valued at approximately $5,271,778.62. This represents a 10.09 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 47,940 shares of company stock valued at $973,442 in the last ninety days. Corporate insiders own 7.90% of the company's stock.

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.