BlackRock Inc. lessened its stake in Denali Therapeutics Inc. (NASDAQ:DNLI – Get Rating) by 2.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,598,212 shares of the company’s stock after selling 186,420 shares during the period. BlackRock Inc. owned about 6.33% of Denali Therapeutics worth $263,880,000 as of its most recent SEC filing.
Other institutional investors also recently bought and sold shares of the company. State Street Corp lifted its position in Denali Therapeutics by 26.4% in the first quarter. State Street Corp now owns 3,826,792 shares of the company’s stock valued at $123,108,000 after purchasing an additional 799,221 shares during the last quarter. Millennium Management LLC purchased a new position in shares of Denali Therapeutics in the second quarter valued at about $18,992,000. Point72 Asset Management L.P. bought a new position in shares of Denali Therapeutics during the third quarter valued at about $19,427,000. Clarius Group LLC boosted its holdings in shares of Denali Therapeutics by 813.8% during the third quarter. Clarius Group LLC now owns 260,604 shares of the company’s stock worth $7,998,000 after purchasing an additional 232,085 shares during the period. Finally, Woodline Partners LP grew its stake in shares of Denali Therapeutics by 389.3% in the first quarter. Woodline Partners LP now owns 256,678 shares of the company’s stock worth $8,257,000 after purchasing an additional 204,224 shares during the last quarter. 67.26% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
DNLI has been the topic of a number of recent analyst reports. SVB Leerink reiterated an “outperform” rating and issued a $50.00 price objective on shares of Denali Therapeutics in a research report on Monday, January 30th. Cowen began coverage on shares of Denali Therapeutics in a report on Monday, December 5th. They issued an “outperform” rating for the company. Evercore ISI reduced their price target on shares of Denali Therapeutics from $80.00 to $50.00 and set an “outperform” rating on the stock in a research report on Tuesday, February 28th. Wedbush lowered their price objective on shares of Denali Therapeutics from $46.00 to $38.00 and set an “outperform” rating for the company in a report on Tuesday, February 28th. Finally, Morgan Stanley reduced their target price on Denali Therapeutics from $65.00 to $61.00 and set an “overweight” rating on the stock in a report on Wednesday, March 1st. Thirteen research analysts have rated the stock with a buy rating, According to data from MarketBeat, Denali Therapeutics currently has a consensus rating of “Buy” and an average price target of $54.58.
Denali Therapeutics Stock Down 3.8 %
Denali Therapeutics (NASDAQ:DNLI – Get Rating) last released its quarterly earnings results on Monday, February 27th. The company reported ($0.75) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.77) by $0.02. The firm had revenue of $10.28 million for the quarter, compared to the consensus estimate of $11.29 million. Denali Therapeutics had a negative return on equity of 35.67% and a negative net margin of 300.55%. The company’s revenue for the quarter was down 17.8% on a year-over-year basis. During the same period last year, the business posted ($0.62) EPS. As a group, analysts expect that Denali Therapeutics Inc. will post -3.42 earnings per share for the current year.
Insider Buying and Selling
In other Denali Therapeutics news, insider Carole Ho sold 2,913 shares of the company’s stock in a transaction that occurred on Wednesday, January 4th. The shares were sold at an average price of $28.69, for a total transaction of $83,573.97. Following the completion of the sale, the insider now directly owns 175,500 shares of the company’s stock, valued at $5,035,095. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Denali Therapeutics news, insider Carole Ho sold 2,913 shares of the company’s stock in a transaction dated Wednesday, January 4th. The stock was sold at an average price of $28.69, for a total value of $83,573.97. Following the completion of the sale, the insider now owns 175,500 shares in the company, valued at $5,035,095. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Steve E. Krognes sold 2,970 shares of Denali Therapeutics stock in a transaction dated Thursday, January 5th. The shares were sold at an average price of $28.44, for a total value of $84,466.80. Following the transaction, the director now directly owns 146,498 shares in the company, valued at $4,166,403.12. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 91,020 shares of company stock valued at $2,689,975. 12.70% of the stock is owned by insiders.
About Denali Therapeutics
Denali Therapeutics, Inc is a biopharmaceutical company, which engages in the development and commercialization of a portfolio of product candidates for neurodegenerative diseases. Its product pipeline includes LRRK2, RIPK1, TREM2, and Tau. The company was founded by Ryan J. Watts, Marc Tessier-Lavigne, and Alexander Schuth on October 14, 2013 and is headquartered in San Francisco, CA.
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