State of New Jersey Common Pension Fund D Sells 25,613 Shares of Denali Therapeutics Inc. (NASDAQ:DNLI)

State of New Jersey Common Pension Fund D lessened its stake in Denali Therapeutics Inc. (NASDAQ:DNLI - Free Report) by 24.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 77,483 shares of the company's stock after selling 25,613 shares during the period. State of New Jersey Common Pension Fund D owned approximately 0.05% of Denali Therapeutics worth $2,257,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in DNLI. EP Wealth Advisors LLC bought a new position in Denali Therapeutics during the first quarter valued at approximately $831,000. Edgestream Partners L.P. bought a new stake in Denali Therapeutics in the first quarter worth $2,301,000. Swiss National Bank boosted its position in Denali Therapeutics by 0.7% during the first quarter. Swiss National Bank now owns 218,200 shares of the company's stock valued at $4,477,000 after buying an additional 1,500 shares during the period. Bayesian Capital Management LP bought a new position in shares of Denali Therapeutics during the first quarter valued at about $447,000. Finally, Capital Research Global Investors increased its holdings in shares of Denali Therapeutics by 107.9% in the first quarter. Capital Research Global Investors now owns 6,049,957 shares of the company's stock worth $124,145,000 after buying an additional 3,140,429 shares during the period. Institutional investors own 92.92% of the company's stock.

Analyst Ratings Changes

Several research firms recently issued reports on DNLI. Jefferies Financial Group raised their price target on Denali Therapeutics from $40.00 to $45.00 and gave the stock a "buy" rating in a research report on Friday, November 1st. Cantor Fitzgerald lowered shares of Denali Therapeutics from an "overweight" rating to a "neutral" rating in a report on Monday, October 7th. Bank of America increased their price target on shares of Denali Therapeutics from $25.00 to $29.00 and gave the company a "buy" rating in a research report on Wednesday, September 4th. Wedbush lowered their price objective on shares of Denali Therapeutics from $30.00 to $26.00 and set an "outperform" rating for the company in a research note on Friday, August 2nd. Finally, JPMorgan Chase & Co. cut their target price on Denali Therapeutics from $29.00 to $28.00 and set an "overweight" rating on the stock in a research note on Friday, October 11th. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $38.90.

Insider Buying and Selling at Denali Therapeutics

In other Denali Therapeutics news, CEO Ryan J. Watts sold 40,000 shares of the firm's stock in a transaction dated Friday, October 18th. The shares were sold at an average price of $27.69, for a total transaction of $1,107,600.00. Following the completion of the sale, the chief executive officer now directly owns 235,807 shares in the company, valued at approximately $6,529,495.83. This trade represents a 14.50 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Steve E. Krognes sold 30,000 shares of the company's stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $29.03, for a total transaction of $870,900.00. Following the completion of the transaction, the director now owns 29,096 shares in the company, valued at approximately $844,656.88. This represents a 50.76 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 86,578 shares of company stock valued at $2,474,440. Corporate insiders own 7.90% of the company's stock.

Denali Therapeutics Trading Down 7.3 %

Shares of NASDAQ DNLI traded down $2.07 during mid-day trading on Friday, hitting $26.38. 347,840 shares of the stock traded hands, compared to its average volume of 1,067,095. The stock has a fifty day moving average price of $28.20 and a 200-day moving average price of $23.91. Denali Therapeutics Inc. has a 52 week low of $14.56 and a 52 week high of $33.33.

Denali Therapeutics (NASDAQ:DNLI - Get Free Report) last released its 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 previous year, the firm earned ($0.72) EPS. Research analysts forecast that Denali Therapeutics Inc. will post -2.69 earnings per share for the current fiscal year.

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.